Checklist for taking payments in your business

This checklist will help you start, whether launching a brand new business or adding a point of (POS) system. If you have any questions, Clover is here to help.

Steps to take payment

  1. Create a merchant account.
  2. Select a service provider for payment.
  3. Understanding payment gateways
  4. Get ready for contactless payment.
  5. Get Onboarding Support
  6. Integrate other apps
  7. Report your results

The Checklist

Create a merchant account.

You’ll need the following:

  • merchant account is a type of particular bank account that allows Small Businesses to accept payments via credit cards, debit cards, or mobile wallets. Merchant accounts (or equivalent third-party accounts) are needed for card acceptance.
  • Online application for a merchant account using a POS system.

Select a payment service provider.

Payment processing is also known as a payment services provider. It facilitates communication between the merchant and the credit card network. What to consider before choosing a payment processing company:

  • Industry – Certain PSPs have features specific to certain industries, such as restaurants, retail stores, and service businesses.
  • Size of your company – some PSPs charge a different rate for larger businesses than solopreneur ventures.
  • Budget – Payment processing companies use a wide range of pricing models. Our guide, “Credit Card Processing: What is it and how does it Work,” can be found here.
  • Clover accepts all major credit cards, debit cards, gift cards, and contactless payments.
  • Clover charges transaction fees that start at 2.3% + 10. C/. This is one of the lowest rates in the industry.
  • Security – Choose a vendor who are PCI and EMV-compliant.

Understanding payment gateways

gateway transmits payment data securely to the processor to complete the payment lifecycle. It can also be used to authorize card-not-present transactions. This is mainly done for eCommerce sites. Imagine it as a virtual point of sale for your business. Consider these factors:

  • Some merchant account providers do not have a payment portal. Some providers use third-party payment portals, which can be problematic if you have a dispute.
  • Selecting a merchant account from one provider and a payment portal from another may be the best option. Payment gateways can process integrated payments securely, reducing errors and speeding up transaction processing.

Prepare for contactless payment.

Today, more than half of US consumers prefer contactless payments. Digital receipts can be used to complete contactless payments, making the process touch-free. Follow these simple steps:

  • Open the Sale App on your Clover device.
  • Enter the amount of your sale, and then click Charge.
  • Enter an identification number if you have enabled the prompt for invoice numbers or your custom identifier. Then tap Continue.
  • Hold the card over the EMV logo.
  • As needed, ask the customer to enter their PIN or sign.
  • Tap Verify if the customer has signed to accept their signature.
  • Tap on the “Void Transaction” button to cancel a payment.
  • Tap Done

Get Onboarding Support

  • Assure that your partner offers you and your team onboarding training and support.

Integrate with other applications.

  • Ensure the payment processor offers additional tools, features, and apps to help you run your business.

Report your results and analyze them.

  • Ensure you are familiar with your payment processor’s reporting and analytics tools.


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