Accept Credit Card Payments Online Instantly with Same-Day Approval

You can accept credit card payments online instantly with same-day approval, and it's easier than you think. In fact, many payment gateways offer same-day approval for merchants, allowing them to start processing payments within hours of application.

This means you can start selling online and accepting credit card payments quickly, without having to wait for days or weeks for approval. Same-day approval also means you can get started with online sales and marketing sooner, giving you a head start on your competition.

With same-day approval, you can start processing credit card payments online in as little as 24 hours, depending on the payment gateway you choose. This is especially useful for businesses that need to start selling online quickly, such as during a holiday shopping season or for a special promotion.

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You can start accepting credit card payments online instantly with Square, which has a basic and intuitive setup designed to quickly onboard new businesses. Square allows merchants to set up an account online and start accepting payments within minutes.

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Square's virtual terminal enables you to take credit card payments online, send customers invoices they can pay online, or use Tap to Pay to accept in-person contactless payments with just your smartphone.

With Square, you can start taking payments anywhere, anytime with flexible, low-fee payment options. Square is a third-party processor and comprehensive payment ecosystem that allows new businesses to accept credit card payments without a merchant account.

Here's a comparison of Square's setup process and payment options with SimplyPayMe's:

Square's setup process is designed to be quick and easy, allowing you to start accepting payments immediately. Square's payment options are flexible and low-fee, making it a great choice for new businesses.

Suggestion: Does Square Accept Credit Cards

To set up an account for instant credit card payment processing, you'll typically need to submit documents and undergo a credit check, which can take three to six business days. This is the case with traditional merchant account providers.

Consider reading: How to Create Payment Link for Bank Account

You can opt for an instant merchant account, which allows you to start taking payments and transferring funds in the same business day, but be aware that third-party processors may come with trade-offs.

If you have an established business, you may be able to negotiate competitive rates with a traditional merchant account provider. Some providers, like Helcim, offer low-cost interchange-plus processing with no monthly fee, while others, like Payment Depot, are an affordable option for growing businesses.

Here are some options to consider:

If you're looking for a merchant account provider that offers same-day approval, Payment Nerds is a great option. They offer fast account approvals to all merchants, but approvals are even faster if your business has a great track record.

For established businesses with excellent credit, Payment Nerds can potentially offer same-day approvals. Payment Nerds is a newer merchant account provider from the founder of Payment Cloud, and it caters to businesses of all risk levels.

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Payment Nerds offers a full set of features for all types of merchants, including dedicated merchant accounts, PCI compliance, and high-risk accounts. They can accommodate Canadian businesses for international accounts.

If you're looking for a provider that accepts high-risk businesses, Payment Nerds is a good choice. They have a low, flat-rate pricing model, and there's no monthly fee or long-term contract.

Here's a comparison of Payment Nerds' plans:

Payment Nerds also offers extra costs for manually entered cards, international cards, and currency conversion.

Setting up an account with improved security is a top priority. This is where credit cards shine, minimizing the risks of theft and human error associated with handling cash.

One of the most significant benefits of using credit cards is that they reduce the need for cash handling. This, in turn, minimizes the risks of theft and human error.

Fraud protection is also a major advantage of using credit cards. Credit card companies often provide fraud detection and protection services to safeguard your account.

Having a credit card with robust fraud protection can give you peace of mind, especially when shopping online or making transactions over the phone.

Consider reading: How to Track Credit Card Payments Using Excel

Instant merchant account approval is possible, but it's essential to understand the trade-offs involved. Traditional merchant account providers take 3 to 6 business days to approve a merchant account, while instant merchant accounts can approve you in the same business day.

Using a third-party processor like Square, Stripe, or PayPal can expedite the approval process, but you'll be aggregated into a large pool of merchants. High-risk businesses won't be able to use these services, and account stability issues are common.

Some popular payment processing companies that offer same-day approval include Stax, Wave Payments, Stripe Payments, Square, Payment Nerds, Helcim, and PayPal. These companies have varying requirements and fees, so it's crucial to research and compare them.

Here's a brief overview of each:

PayPal is a good option for instant access to funds, but it's more expensive than other third-party processors. With PayPal, funds are available in your account almost as soon as the transaction is complete, and you can spend the money online anywhere that PayPal is accepted.

Instant merchant account approval can be a convenient option for businesses that need to start accepting payments quickly. However, it's essential to weigh the pros and cons and choose a provider that meets your specific needs.

Payment processors are the backbone of online transactions, and choosing the right one can make a huge difference in your business. Helcim, for example, offers a zero-cost payment processing option for US businesses, with no monthly fee and competitive transaction fees. This can be a game-changer for small businesses and startups.

Some payment processors, like Stripe, have massive feature sets and offer instant deposits, making them a great option for businesses that need to get up and running quickly. However, not all payment processors are created equal, and some may have limitations, such as not being suitable for high-risk industries.

When evaluating payment processors, consider factors like transaction fees, monthly fees, and startup fees. Some payment processors, like PaymentCloud, offer zero-cost credit card processing programs, but be aware that these programs may have limitations and requirements.

Related reading: Credit Card Processing Recurring Payments

Stripe is a popular payment processor that offers a range of features and benefits for online businesses. It has a massive feature set that includes integrated payment platform, link payments, virtual terminal, and anti-fraud protection.

Stripe has a reputation for quickly iterating on features and being one of the more inventive payment processors in the business. Its features include Stripe Payments, Link payments, Stripe Virtual Terminal, Stripe Radar anti-fraud protection, and Stripe Terminal API & card readers for card-present transactions.

One of the best things about Stripe is that it has no monthly fees, making it a cost-effective option for businesses. However, it's worth noting that it's not suitable for high-risk industries.

Stripe's pricing is transparent, with a flat rate of 2.9% + $0.30 per online credit/debit transaction, plus an additional 0.5% for manually entered transactions. For in-person transactions via Stripe Terminal, the rate is 2.7% + $0.05. Additionally, there's a +1.5% fee for international cards and +1% for currency conversion if required.

If you're an eCommerce business, Stripe is a good option for you. It's a payment gateway focused on eCommerce transactions, and its approval process is fast and relatively easy. However, be aware that there's a seven-day delay in receiving your first deposit, or longer for high-risk merchants.

Here are some key features of Stripe:

Note: This is not an exhaustive list, but it highlights some of the key features of Stripe.

Helcim is a payment processor that offers a range of features for businesses, including full-service merchant accounts, proprietary card readers, and mobile processing. Helcim accounts come with a full range of essential payment processing features, all included at no extra cost.

One of the key benefits of Helcim is that its processing costs decrease with business growth, making it a great option for growing businesses. Helcim also accepts international payments and offers month-to-month pricing.

Helcim is not suitable for high-risk industries, and its pricing can be expensive for very low-volume businesses. However, for mid- to high-volume businesses, Helcim offers competitive pricing and a range of features.

Here are some of the key features of Helcim:

Helcim's pricing is as follows:

Helcim is a great option for businesses that need to quickly transfer funds to their bank account, as it offers next-business-day deposits as standard for $10/month.

Accepting credit card payments online can open up new markets and improve operations overall. It allows businesses to reach a wider customer base.

Payment flexibility is a key benefit of accepting credit card payments, allowing customers to use their preferred payment method and improve customer satisfaction. This can lead to increased customer loyalty and retention.

Accepting credit card payments is essential for ecommerce and mobile transactions, catering to those who prefer to shop online. This is especially important for businesses that want to tap into the growing online market.

Here are some of the benefits of accepting credit card payments online:

Minimizing costs and streamlining the payment process is crucial for businesses. Choosing an all-in-one payment processor that offers a free payment processing account and a free website can help achieve this.

Expand your knowledge: Take Payments Online for Free

Traditional accounts can be a cost-effective option for merchants who process high volumes of transactions. A traditional merchant account is a type of bank account that requires an application and approval process.

For merchants who consistently process over $20,000 per month, a traditional merchant account can be the least expensive option. This type of account usually offers more competitive rates than all-in-one ecommerce platforms.

Merchant account providers like Helcim, Square, and Payment Depot offer affordable options for merchants. Helcim, for example, has no monthly fee and offers automated volume discounts, making it a competitive option for established online, in-person, and multichannel payments.

Here's a comparison of the monthly fees for traditional merchant accounts from various providers:

Keep in mind that these fees can vary depending on the type of payments you're receiving and the provider you choose.

You can pass on credit card processing fees to your customers, but be aware that this might not be the most customer-friendly approach.

Some payment processors automatically discount rates as your business grows, such as Helcim.

If you're not using extra services, features, or tools provided by your payment processor, make sure you're not paying for them.

Peer-to-peer payments like Zelle don't charge transaction fees and offer fast access to funds.

To minimize chargebacks, use chargeback prevention tools and take steps to reduce chargebacks and fraud in your business.

By implementing these strategies, you can reduce the fees you pay for credit card processing and keep more of your hard-earned money.

Additional reading: Business Cash Card

Traditional accounts can be a great option for businesses that process a high volume of transactions, but it's essential to understand the fees involved.

Helcim offers a low-cost interchange-plus processing model with no monthly fee, and it has automated volume discounts that make it competitively priced for established online, in-person, and multichannel payments of all sizes.

The fees for Helcim are broken down as follows: online transaction fees are interchange plus 0.15% + 15 cents to 0.5% + 25 cents, card-present transaction fees are interchange plus 0.15% + 6 cents to interchange plus 0.4% + 8 cents, and the chargeback fee is $15 reversible.

Square is another popular option, but it charges a flat rate of 2.9% + 30 cents per online transaction, and 2.6% + 10 cents per card-present transaction. The chargeback fee is waived up to $250 per month.

Payment Depot offers a custom interchange-plus rate for both online and card-present transactions, but it charges a flat fee of $25 for chargebacks.

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Here's a comparison of the fees for these three traditional merchant account providers:

Traditional merchant accounts can be a bit confusing, but let's break down the costs involved. Monthly fees can range from $0 to $99-$199, depending on the provider. For example, Helcim and Square both offer $0 monthly fees, but Payment Depot charges $0 for US businesses only.

Online transaction fees are typically higher than card-present transaction fees. For instance, Helcim charges interchange plus 0.15% + 15 cents to 0.5% + 25 cents, while Square charges 2.9% + 30 cents per transaction. Payment Depot charges custom interchange plus rates for online transactions.

Card-present transaction fees are usually cheaper than online transaction fees. Helcim charges interchange plus 0.15% + 6 cents to interchange plus 0.4% + 8 cents, while Square charges 2.6% + 10 cents per transaction.

Chargeback fees can range from $15 to $25, depending on the provider. For example, Helcim charges $15 reversible, while Payment Depot charges $25 for US businesses only.

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Here's a summary of the fees involved in traditional merchant accounts:

Keep in mind that these fees can vary depending on the provider and the type of payments you're receiving. It's essential to understand the costs involved in traditional merchant accounts to make informed decisions about your business.