A friend asked me to sell some unwanted concert tickets on eBay last week, and they sold for about twenty percent less than the face value but at least she got something back, However when we added up all the fees that were charged I started to think about getting myself set up to accept credit cards online. The Paypal charge for taking a £155 payment was more than£6, I know if I had my own merchant account I should be able to improve upon that rate.

Anyone starting an online business will eventually need to get organised to take cards so you may as well find out how. The difficulty is that if you go to one of the large card processor they will put you in a Catch 22 situation by demanding references and evidence of a track record. Of course, a new business does not have these. And if you do get accepted watch out for hefty startup fees and high commission. Look around and you will find merchants who are happy he take on new companies with no upfront fees. Remember, customers spend more when they pay by card so make sure you can take their cash!