Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Charge It

Posted by: Rod Kurtz on April 11, 2006

Many customers love to pay with plastic, and accepting credit cards can sometimes be the difference between making or losing a sale.

Credit card services are competitive, so shop around for the best deal. Your search should turn up banks as well as independent sales organizations (ISOs) that provide merchant services for credit cards.

Once you narrow your search to a few providers, get copies of their merchant contracts. Look the contracts over carefully with a critical eye toward answering these questions:

1. What is the discount rate?
2. How much of a reserve is required to be maintained?
3. How quickly will your bank account be credited with credit card deposits?
4. How much are monthly fees?
5. How much are transaction fees?
6. What equipment is required, and what are the costs?
7. Can equipment be purchased rather than leased?

Avoid contracts with high monthly rates, low rates coupled with high up-front fees, or costly equipment leases. And as always, don’t sign any agreement until you understand every detail.

Gene Fairbrother
ShopTalk 800® Business Consultant
National Association for the Self-Employed

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!