It is not possible to run an online or e-commerce business successfully without being able to accept payments made by credit cards. Processing credit cards includes a number of things such as verifying the expiry date of a consumer’s credit card, credit card number and other such information associated with credit cards.

If you are a start up or small business owner, you can opt for “free credit card processing”. Unlike normal credit card processing, free processing of credit cards will not involve monthly fees, secure server, minimum transaction fees, consumer service fees, gateway fees and software required for processing of credit cards. 

Most of the free credit card processing companies charge a nominal fee for processing every transactions or a small percentage of the monthly base. Therefore, if you opt for free credit card processing, you will save huge amounts of money every month. However, free credit card processing does not work as well as the merchant accounts. Regular credit card processing involves licence fee payment, minimum fee, statement fee, discount fee and other such fees.

If you have decided that free processing of credit card is what you can afford, then make an effort to visit a credit card processing firm in order to understand the type of transactions that take place while a credit card is being processed. The other option available for you is the “third party credit card processor” which costs lesser when compared to merchant accounts at start with.

There are a number of free credit-card processing firms that do not involve the creation of merchant accounts. Currently, there are many businesses over the internet that utilise the services of free credit card processing, and include CCBill, iBill, V-Share, ShareIt.

Do free credit card terminals exist in reality?

“You do not get something for nothing” goes an old saying. This especially holds true in the case of free credit card terminals. When firms specify about free terminals, it does not mean that they are totally free. It actually implies that there are no up-front costs involved. However, processors that provide free terminals recover the up-front costs by charging you with other fees such as annual fee, minimum monthly fee and terminations fee.

In a way, one can say that merchants are cheated by the providers of the so-called “free credit card terminals”. Also, the processing equipment will never be yours since merchants are allowed to use the equipment only till the trader has an association with the processing firm. You cannot use the equipment with other service providers as the program of the terminal will not work.

Once you plan to terminate the account, you are supposed to return the equipment according to the terms specified in the agreement. Since you have used the machine for a considerable time period, the machine would be worn out. For this, you will have to shell out a penalty that ranges from &595 - $795. Hence, the total costs incurred will be very high. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.