Saturday, April 19, 2008

Process credit cards at the flea market

If you have a business in a flea market, you have the ability to accept customers with credit cards. Credit card holders spend more money on their cards, so you can target them to increase your business size. You will be able to give them the option to swipe their cards on site and increase your sales volume.

Many people start up their small scale business in the flea market and they don’t have adequate funds and compare different credit cards companies to open a merchant account with a bank. You have to purchase expensive equipment from the credit card company to be able to swipe the customer’s card at your flea market booth. Since you have just started up your business, you need to spend on other important things that will keep your business rolling. If you have a booth in the flea market and you want to target the credit card holders, you will be able to do that by using a satellite internet connection to send the credit card details to the processor. All this will be done by paying a nominal fee.

You can use a telephone to process the credit card payments from your customers. You can get a merchant account that allows you to use their toll free number; you will enter your personal account number to verify your business, and then you will enter the credit card details of your customer. The transaction will be processed and will instantly tell you if the credit card account has the funds available for their purchase and you can proceed with the sale. It’s a very easy process and you can increase your sales volume by targeting on the credit card customers. You will enter the customer’s credit card number on the order form and keep it for your documentation. Just in case, if the transaction didn’t get through because of some technical problems or due to some other reasons, you will be able to enter the information again and process the transaction.

The fee for this type of transaction is also very nominal. You don’t have to compare different credit card companies and buy their expensive equipments for swiping customer’s cards. You may pay a joining fee of $5 and enroll your business, and then there may be another charge of $100 to set the account and a $5 monthly fee. When you are processing credit cards by phone, you will get a discount of at least 3% to 4% on each transaction.

This method is much easier especially when you have just started your business in the flea market and need money to create stock. Without having any profit, you may not be able to afford spending money on the electronic gadget from the credit card company. Later, when your business is doing well and you have increased your sales volume, you always have this option and compare credit cards companies for this feature.

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