Credit Card Processing

In America today, 66% of in-store sales happen through credit/debit cards. This number will only increase as cards become more and more omnipresent and people stop carrying cash around. In such a scenario, if you are a small retail business, a cash-only policy can spell major trouble. Without a credit card processing facility in place, you will miss out on many transactions, and your revenue will only reach a fraction of its true potential.


As a retailer, you need to approach an acquirer who will provide you with the equipment and software needed to process credit card payments. After a customer purchases something from you through a credit card, the acquirer contacts the issuing bank (the customer’s bank to which the credit card belongs) for the payment. The acquirer’s fee is pre-decided with you. The acquirer takes their fee and deposits the balance into your account. After this, the acquirer splits the fee with the credit card association (Visa, MasterCard, etc.) that was used.


So what are the benefits of having a credit card processing facility for your business?


  1. Credit card payments are so ubiquitous these days. A business that only accepts checks/cash runs a major risk of losing out on business.
  2. Impulsive purchases, especially for higher ticket items, are often done through credit cards since its unlikely customers will carry that much cash with them. Thus, having a credit card processing facility increases your chances of such additional revenue.
  3. Transactions are quick and seamless; reducing delays in checks clearing and the hassle of dealing with a lot of cash.
  4. Checks are more prone to fraud; since credit cards have a secure electronic mechanism, there is much less danger of frauds occurring when compared to checks.


 But what about the fact that credit card processing is costly, especially for a small retailer? To understand this better, you need to be aware of the two types of fees associated with credit card processing- Wholesale fees and Markup fees. Wholesale fees are fixed and non-negotiable as they are paid to the customer’s bank and the credit card association. Markup fees, on the other hand, refer to the fee which is charged by the acquirer who provides you with the credit card processing facility. That’s why markup fees vary significantly from one acquirer to the next and should be the main consideration when it comes to deciding who the acquirer should be.


 Why Gold Card Capital’s credit card processing facility?


  • Discount and easy access to all Loan Products
  • Access to fully integrated credit card processing savings program
  • Processing rates provided at Wholesale Fee with a loan product
  • No Upfront Fees
  • Specialize in Clover POS Systems

Take control of your credit card processing account today contact us immediately to learn more