sglee
asked on
taking credit card payments over the phone
Hi,
I am considering accepting credit card payments over the phone for the service that I provide.
I only received checks as a form of payment in the past and I like to change it so that if someone reads me their credit card number over the phone, I like to go to some website and enter the CC# and amount and the charged amount would be transferred to my bank account automatically.
I could have called my bank for help first, but I wanted to get experts take on this as to what would be most cost effective way of doing this. Often Banks will try to sell me their services or packages for their benefits.
I estimate the average number of transaction would be once a day (or less than 30 times a month)
Thanks.
I am considering accepting credit card payments over the phone for the service that I provide.
I only received checks as a form of payment in the past and I like to change it so that if someone reads me their credit card number over the phone, I like to go to some website and enter the CC# and amount and the charged amount would be transferred to my bank account automatically.
I could have called my bank for help first, but I wanted to get experts take on this as to what would be most cost effective way of doing this. Often Banks will try to sell me their services or packages for their benefits.
I estimate the average number of transaction would be once a day (or less than 30 times a month)
Thanks.
ASKER CERTIFIED SOLUTION
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SOLUTION
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ASKER
@Dave
So there are two processes involved here: (1) Merchant Services (2) Credit card processing service
Am I correct to assume that I have to buy 'Merchant Services' from my bank and that I don't have control over that.
But I can pick and choose 'credit card processing service' company that will work with my bank or I have to use whomever my bank recommends as?
So there are two processes involved here: (1) Merchant Services (2) Credit card processing service
Am I correct to assume that I have to buy 'Merchant Services' from my bank and that I don't have control over that.
But I can pick and choose 'credit card processing service' company that will work with my bank or I have to use whomever my bank recommends as?
SOLUTION
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@sglee - Thanks and I was happy to help.
ASKER
I am interested in knowing "processes" or "mechanism" that I have to have in place, not what I would need to do with the information that I collected.