Credit Card Processing for Small Business

Accepting credit card payments will do your business some good and reap more profit, since many consumers prefer to make their purchase without shelling out their cash.

If you are a small business owner and have not yet investigated credit card processing for small business owners then you are really missing out on some revenue.

There is a large portion of the population in Australia that will not do business with you unless you accept a credit card. They want to pay you – but they want to pull out their plastic and charge their purchase and if you don’t let them they will go elsewhere and put money in your competitor’s pockets. Don’t let this happen to you. Start accepting credit cards and earn more money.

Business Credit Card from Citibank

The CitiBusiness credit card will help you streamline reporting on your purchases for your business. Separating personal transactions from business transactions will make it easier for reporting at tax time. The CitiBusiness credit card is a great card to consider for your business.

• $149(half-price annual fee in the first year) annual fee
• 0% p.a. for 4 months (reverts to 20.74% p.a.) on purchases
• 0% p.a. for 4 months on balance transfers
• Cash Advance Rate of 21.49% p.a.
• 55 days interest free
• Minimum Income Requirement of $30,000 p.a.

Read the Citibank CitiBusiness Gold terms and conditions.

Credit card processing for small business owners

Here is some information about what you can expect when you decide to get credit card processing for small business owners.

Start-up costs

The biggest cost to expect when you’re first getting started is the terminal, which is used to swipe the credit cards. Terminals that have printers are worth between $200 and $600, wireless terminals go for $600-$1000 and basic terminals are cheaper at $150-$300. If you do not have the cash to outlay for a terminal, you also have the option of leasing one. The price on this can be as low as $35 per month.

If you are taking credit card transactions without the physical card you can get PC software for about $150. Card verification can be done over the phone with some providers.

Some companies will charge an application fee when you first apply for credit card processing for small business. These fees can be anywhere up to $200 and you need to make sure that they are refundable if you are not approved for an account. Activation fees and set up fees may also apply. Before you sign up for anything make sure you understand all that is involved and read the fine print on the contract first.

Costs that are recurring

You will be charged a small percentage for each transaction made at your place of business and this is called the discount rate. It will be determined based on volume types of transactions, the average sales ticket and an evaluating risk for the company.

The merchant bank also charges a fee per transaction. This is usually about $.20-$.30 for transactions with a card and $.30-$.50 for transactions without one.

There are a lot of other fees and charges that can be added to these as well, so check out the different companies and see what they are charging.

You have the right to negotiate a price when you are setting up credit card processing for small business owners. The fees can add up very quickly, so compare prices and get the best deal.

Check out today's featured offers:

Westpac Low Rate	Citibank Clear Platinum	Qantas AMEX Discovery	ANZ Platinum
0% p.a. for 6 months on purchases & balance transfers	2.9% p.a. for 12 months on balance transfers	$0 annual fee Up to 10,000 Bonus QFF Points	0% p.a. for 6 months on purchases & balance transfers

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%