[David John]

If you want to accept credit card payments for your business, you'll need to enlist the help of a credit card processing company, also known as merchant services provider. There are many merchant services providers that can help all types of businesses with their payment processing needs.

Once you sign up with a company, they'll provide you with a specialized code, also known as a merchant identification number (MID), that identifies your business. That special code is unique to your business only, so you never have to worry that anyone else will access it.

The merchant services provider will then provide you with the equipment you need to process credit and, if you desire, debit cards. Bear in mind that there are other types of payment forms, as well. More and more customers are using pre-paid cards, gift cards and more. You and your merchant service agent provider will determine what forms of payment you will accept.

As the merchant, your processing fees are determined based on how often you accept non-cash payments. Usually, the card network will base their service fees on a percentage of your sales. Sometimes, this isn't the case, however. You'll learn your merchant services provider's detailed fee setup during your initial meeting.