How to Accept Credit Card Payments Over the Phone

By Lynn Keller

  • Overview

    When you need to accept credit card payments over the phone you will need to get a merchant account provider. Keep reading to find out how to evaluate these providers and get the service you need without overpaying. Fees can vary so an overview is provided for commonly charged fees. This should enable you to choose the best provider for your needs.
    VeriFone Vx510
    • Step 1

      Choose a few merchant account providers to compare. These will either be the banks that are extending the credit or sellers that work with the banks. One of the first things to consider is cost. Most providers will charge at least a monthly fee, a fee per transaction, a percentage of each transaction, set up fee and a charge back fee.
    • Step 2

      Consider whether the provider is willing to install the equipment, if needed, or offers help when needed. Another aspect to think of is whether the equipment used to read the credit cards is purchased or leased. If the equipment is purchased, it is good to know if it can be used with other services. It is also important to inquire about a warranty in case the equipment breaks.


    • Step 3

      To verify that the providers are good quality businesses, additional information may be found at the Better Business Bureau or the Merchant Service Bureau. It may be beneficial to do an Internet search on the providers to see if any customer complaints are mentioned in blogs or elsewhere.
    • Step 4

      Understand that the final decision to make is what services you need from the provider. For credit card over the phone service, the terminal can be wired or wireless. A cell phone may be used for some wireless terminals.
    • Step 5

      Contact the chosen provider to finalize the details. If ordering over the Internet the equipment will, most likely, be shipped. If a simple terminal is selected just for phone transactions, it may be as easy as plugging it in and following the instructions on the display.
    • Skill: Moderately Easy
    • Warning:
    • Make sure that your provider lists what bank is underwriting the line of credit and verify that is it FDIC insured.

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