Answer Base

What do i need to do to enable my business to accept payments by credit card? this would be over the phone, not on line or in person. who do i speak to? what are the charges? what equipment will i need? not sure if the costs outweigh the benefit of being able to deal with companies who i would not want to give trade credit to! thanks

Is your business a web based business? do you sell off a website? paypal offer high rates for their services and often cause problems with payments regarding user accs etc. i would not recommend them. i have a retail company and are currently started our online shop - we have been recommended a company called worldpay. however, in our shops we use a company called streamline who are affiliated with the high street bank natwest. they charge different amounts depending on the method - i.e. a debit card is charged 55pence per transaction no matter what the transaction amoutn is. however, with credit cards we are charged up to 3 per cent of the sale by the processors. we then pay a monthly rental for the card terminal of approximately £25. you can take payments over the phone with these terminals easily - and they print out a neat receipt to then send to your client. i would advise you go and see your business bank manager (if you have a business acc) and discuss the options. however - remember you do not have to use the processor affiliated with your bank and use this to your advantage. all of the rates are negotiable so shop around and play them off eachother. hope this has helped.