Maurice Verrelli the President of Axxess Payments. Maurice Verrelli said Let’s face it. When you go into a store or business, it is easy to forget to check those stickers on the door which denote what types of payment are accepted at this establishment. One of the reasons it’s easy to forget to look is that we are becoming more accustomed to restaurants, retail outlets, and convenience stores accepting cash, debit, and credit. What was once deemed a perk is becoming increasingly widespread to the point we don’t give it a second thought.
Cash, of course, is a time-honoured tradition. But the question becomes those who limit themselves to cash and / or cheque may be shutting themselves off to a sizeable chunk of the market. If someone isn’t carrying cash on them, but are quite interested in your product, you might have just sent them elsewhere. If you employ workers who collect cash “out in the field,” your trust of the employee is the only insurance you really have. And with cheques, the trust issue goes to the person signing it. With payment processing options, commercial life can be simpler, more reliable, and more straightforward.

This involves setting up a merchant account, which essentially is a bank account that allows the world of business to accept payments via debit and / or credit cards. An ever-larger number of businesses are going this route, literally the wireless route, since the flexibility and security of this arrangement, as well as the open cash-flow possibilities, are proving attractive to small business owners, nonprofits, medium sized businesses, and everyone in between.

One of the decisions that then becomes key is whether to set up an e-commerce arrangement or go for a more modest third party online payment processor. Common hosted payment processing services that people are familiar with include, PayPal, and Google Checkout. Choosing a third party online payment processor is generally the quickest avenue but can cost significantly more, as they take a percentage of your sales, on top of a processing fee. 

Something that is becoming increasingly clear is that yesterday’s convenience can quickly transform into today’s necessity.