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Monday, June 13, 2005

Accept credit cards by phone!

I have written before about how invaluable it has been to have merchant account and the ability to accept credit cards for my business. That point struck home last month when I set up the digital product downloads for my site and was able to effortlessly do it with the existing merchant account. I have a virtual account - meaning, I put the information into a secure web site and 2-3 days later, my regular checking account gets the funds. This has allowed me to offer discounts for pre-payment (GREAT cash flow booster) and take projects that would not have been possible without a credit card (client doesn't have the funds in cash and wants to invest in their business). It also has allowed me to take "rush" jobs without waiting for a check to arrive.

Well, there is another type of credit card processing service available which lets you accept credit cards by touch tone phone - don't even need a computer! I haven't personally tried it out but I thought I'd share what I found in case it is the right option for you. It sounds really simple - dial a number, enter your pin, enter the credit card and transaction info. The prices and fees are comparable to the other merchant accounts I've looked at. And you aren't locked into a contract with hidden fees, from what I can tell.

If anyone uses this, and has good or bad experiences to share, let me know - it sounds like a pretty cool option for credit card processing for micro businesses!