How to Accept Credit and Debit Card Payments [Small Business Guide] | Platinum Payment Systems

6 Min Read

As a small business owner, it can be a bit overwhelming to deal with credit and debit card payments. It’s just usually not something that you ever think about unless you need it done. But, fear not! There are plenty of ways that you can accept card payments from your customers.

This is true whether you’re a freelancer looking for a secure way to get paid for your consultant work, an e-commerce entrepreneur looking for a payment processor that can handle large transaction volumes or whatever else!

The only key concern here is making sure that the payment options you’re offering are secure. After all, according to the Association of Certified Fraud Examiners, almost 50% of small business owners suffer from fraud at least once in their business lifecycle, with every occurrence costing them an average of $114,000 to resolve!

If you want to learn more about how to accept credit and debit card payments safely, continue reading!


Over 75% of consumers worldwide prefer to pay with their debit or credit card.

This is true whether they are paying in person (where a physical card reader and a merchant account is used to process payments) or online (where the sale goes through a secure virtual payment gateway, compliant to PCI standards.)

Merchant processors like Platinum Payment Systems are a big help in facilitating both kinds of transactions, and more, by providing merchants with all the necessary hardware, software, and support that they need to start accepting payments as soon as possible and as safely as possible (for both the merchant and consumer.)

Now that we’ve established that, we can proceed with the step-by-step break down of what you need to do to start accepting payments when working with a merchant processor like Platinum Payment Systems (PlatPay):


1. Choose a Processor for YOUR Business

The best processor for your business depends on what kind of business you’re looking to establish or have established. For example, for most small online businesses, accepting payments with processors like PayPal or Square is the standard. They’re perfect for businesses that have low transaction volumes and low risks. But, because of their higher-than-average credit card processing fees, they’re definitely not the best choice for businesses that are expecting high volume transactions in the future.

In comparison, you have processors like Platinum Payment Systems, who are specifically marketed towards high-volume and high-risk clients with their low rates (which are, on average, 10-20% lower than other solutions in the market).

If you’re struggling to choose a processor that’s right for you, consider the following characteristics that make for a great processor:

    Excellent Customer Service

    Up-to-Date Payment Processing Technology

    Competitive Credit Card Processing Ratios

2. Identify What Type of Processing Equipment You Want

Next, you need to determine what kind of payment processing equipment you need for your type of business. Are you thinking of starting up a small shop and selling your products only at a physical location? Then, a regular credit card swiper is probably all you’ll need.

Or maybe you want to accept payments online? Or through mobile devices? There is processing equipment for those types of transactions as well – and loads more being invented to keep up with the changing economy! For example, because of the global pandemic, there’s been a rise in popularity of instantaneous no-touch mobile processing that uses Near-Field Communication (NFC) technology that allows customers to not have to come into contact with a terminal when using their credit card or their debit card.

In any case, decide what kind of transactions you’re hoping to accept through your business and discuss the matter with your chosen payment processor, as they should be able to help you with the rest.

3. Review Your Service Agreement

Once you decide which processor you want to work with and what kind of transactions you want to accept, the only thing left to do is to review your contract.

Don’t complete an application with a processor until you have read the fine print of your agreement. Make sure that you’re aware of your processor’s fee structures and perhaps shop around a little and compare the quotes of other companies.

Once you have signed your application, prepare to wait for a couple of days for your processor to review said application. When they’ve approved your application, your processor should then set you up with everything you need to start accepting credit and debit card payments as soon as possible!


Share This Article