How to Accept Credit Card Payments In-Store

April 30, 2018

Are you opening a new business that needs to accept credit card payments? Or, maybe you’ve run a cash-only business for long enough to know that fewer people than ever before use cash, and it's time to switch it up.

No matter the reason, it’s important to know how to accept credit card payments correctly in your store. The process is actually quite simple, and you may already be a few steps ahead of yourself.

Setting up a Bank Account

Before you even process a payment, you need to a bank account set up to deposit that money to. Almost all banks offer a unique business-banking account options that may work for you. These accounts offer different perks than standard consumer bank accounts, such as higher limits on transactions, fewer restrictions on amounts in and out, and more.  Given that this will be the place transactions are settled into, it’s important to have an account with the perks you want.   

Choose A Payment Processing Company 

There are several payment processors on the market, which means that you need to some research to select the right option for your business. Take the time to weigh your options, and speak to representatives from multiple payment processors to learn more about what differentiates them before you make your final decision. If you’re thinking long term, consider companies that offer you more than just payment terminals, like options for ecommerce transactions, in-app payments, or even extra products like gift cards.

Choose the Best Payment Terminal

Once you’ve selected a payment processor, take the time to learn about the payment terminals they have available. There’s an expansive variety of terminals on the market today, so ask yourself the following:

  • Do you need a physical terminal, or a virtual terminal?
  • Do you need a mobile-friendly solution?
  • Do you need a wireless terminal, or a countertop terminal?
  • Does your terminal need to have short or long distance connection options?
  • Do you need more than one terminal?

Once you know the answers to these questions, get in touch with your chosen payment processor to get set up with the terminal that fits your criteria.

Install and Go!

Installing your terminals may be as simple as plugging in and turning on, or may require a visit from a field service technician for some additional support. Installation and set up requirements will be explained to you when you open your account, and can always be clarified by sending an email or making a call to your payment processor.

Once installed and set up, you’re ready to start accepting credit card payments! Make sure that you train yourself and your employees on proper terminal use and the correct card acceptance procedures, and display in-store signage to let your customers know the ways they can pay.

It’s important that you know how to accept credit card payments in your store. To learn more about how to accept these payments safely, take a look at our Q&A with Brian Prentice, Moneris' Chief Risk Officer, or An Overview of Moneris’ Online Fraud Protection Tools.


The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.

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