If your business is poised for growth, don't be held back by a fear of technology if you don't know how to accept credit cards by phone. E-commerce is the way to go if you want to stay ahead of the competition and grow your customer base. Even if your company does not own a piece of technical equipment, now is the time to jump on the bandwagon to take advantage of easy ways to increase your profits.

To accept credit cards by phone, you will first need to get a merchant account. This is a special account offered by various financial lenders and institutions to reliable merchants that are looking to grow their business. A merchant account provides linkages between your business and customers' credit payments via a bank processing system that ensures timely receipts and secure transmissions. These can be handled in many different ways, such as through a credit card processor sitting on a cashier's counter, a Website credit processor, a wireless unit, or as discussed here, a telephone credit processing program. When you get approved for a merchant account, you will be able to choose the most appropriate service for your business, and many companies are opting telephone ordering services that provide a secure means of paying by credit card during a toll-free phone call that is often automated.

You will need to get the best deal on a merchant account before you can accept credit cards by phone. Shop for fees, terms, and products, since these accounts can be very competitive and some are laced with seemingly hidden costs, such as an application fee, gateway fee, and annual membership fee, among others. Once you find out what you will have to pay for a set-up and how much it will cost to put in a phone ordering and payment system, you will be able to negotiate a deal that will optimize your assets without jeopardizing your investment. You may want to use a toll-free number or even more than one number. It may be automated or you might choose to staff the phone line with a friendly customer service representative. It is important to make sure the line is secure so customers can feel safe about ordering and paying by credit card while on the phone with your company.

To accept credit cards by phone, ask your merchant account representative about the various options that you can choose from. Find out how much each one costs both in terms of direct and indirect expenses. Some may be billed at a certain rate per transaction, while others are charged an overall low percentage fee. It might even be a good idea to find out if your customers will want to order and pay be phone, because if not, your investment could dry up quickly. Be sure not to purchase more equipment or support than you need to get started. You can always add more features later as the business grows.

When you install a digital credit processing system, get ready to accept credit cards by phone.