The Merchant’s Guide to Instant Credit Card Processing & Deposits

Access Your Funds Quickly via Instant Money Transfers

These days it seems like time is a luxury as businesses continue to adapt amid the global pandemic; it’s difficult to see what the future holds. The experts at our payment processing company are sharing a merchant’s guide to instant credit card processing, money transfers, and deposits to help make things a little easier for business owners.

In the modern era, paper checks and snail-mail invoices are becoming almost archaic, so you may want to reconsider how to process credit cards, deposit cash, and think about ways to accept payment on a WordPress website, for instance. Even with strategies to improve cash flow in a post-pandemic world, implementing an efficient method to process payments that integrates seamlessly with the checkout feature of a site is vital to the success of a business.

As more and more people pay for goods and services on the internet, especially since people are encouraged to maintain physical distance due to the pandemic, businesses must accept credit card payments online, which has never before been easier to set up. Whether having access to your business funds immediately is necessary for daily operations or if it’s a preference, it’s important to set up instant credit card processing as well as instant money transfers and deposits.

What Is Instant Credit Card Processing?

While typical credit card transactions require a few days to process, instant credit card processing occurs, well, instantly. Simplifying the payment process makes it more convenient for customers, which can translate into increased sales for your business.

Keep in mind, however, that because of the simplicity of instant payment processing, the level of support offered by the payment processing company is also decreased. Instead, support is available as more of a self-service feature via FAQs and articles on their website.

 

How Do Instant Deposits Work?

Controlling cash flow, including credit and debit card sales, is vital for the survival of a business. But note that there is more work involved at the initial swipe of the card before the money is deposited into your account. Money needs to be moved from the bank of the cardholder to your bank when a credit card is used to pay for goods and services.

Despite the automation of money transfers, they aren’t necessarily instant. This has more to do with the process different banks use to send and receive money, which can take several days.

In the instance of instant deposits, the payment processing company fronts the money to you as fast as possible; however, you have to pay additional or higher fees for this perk. Instant payment processing companies are able to do this, even with high-risk merchant accounts, because they can expect the payment from the cardholder’s issuing bank.

 

Chargeback Risks with Instant Money Transfers

Unfortunately, a customer may request a chargeback after the payment has already been deposited into your bank account. While the issuing bank will investigate the claim, there’s a possibility that the money will be removed from your account and you’ll likely be charged an additional fee.

Too many chargebacks can lead to account suspension, which may limit your instant credit card processing options, but there are plenty of ways to combat high chargeback rates.

 

How First Card Payments Can Help with Instant Credit Card Processing

If you haven’t switched to online payment processing, our expert team at First Card Payments will teach you how to accept credit card payments online as well as how to set up instant money transfers. We will walk you through the process step-by-step and offer high-risk credit card processing tips to give your business the best chance at success and growth. You need to work on these systems as soon as possible.

When you are ready to get started with online payments and instant credit card processing, contact our customer support center and speak with a merchant processing expert. Call us at (877) 441-6801 to sign up for a new merchant account and save 25% instantly.