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How to start a credit card business

how to start a credit card business

Things You'll Need


Choose a location for setting up your credit card processing business. You may operate the business out of a commercial office location or even out of your home, as long as you maintain proper security to ensure customer privacy. If you plan to set up this business out of your home, create a dedicated office location for your work.

Contact local banks to present your business plan. Banks are an essential part of credit card processing, so you will need to work with a bank or banks to get your business going. Present the bank with your business plan, and let it know that you are starting a business to operate as an authorized agent of the bank's in-house processing service. This means that you will be working with the bank as a contracted agent instead of an employee. Focus on working with only one bank at first.

Purchase the equipment that you will need to process credit card transactions. Find out if the bank requires specific types of equipment and software. The most common credit card processing machine is Verifone, but the bank might prefer something else. Credit card processing software includes programs from Intuit and Verifone. Ask the bank for its preference; if it lacks one, read reviews carefully before making your purchase. You will also need to purchase a wireless terminal and a pin pad, as well as reliable anti-virus software.

Become part of the Cardholder Information Security Program. This program will provide you with education in working as a credit card processor, and it will provide your business with credibility.

Contact local business owners to let them know about your business. Visit these businesses in person, and explain how you operate your business. Creating relationships with these business owners can create consistent, long-term business for you.

Category: Credit

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