Do you have to have a merchant account to accept credit cards?

You do not, you can also utilize a payment facilitator (Payfac)

How can you accept credit card payments without a reader?

Yes, you can also enter card information within apps on your phone manually, or send invoices with payment gateways for customers.

Can I accept credit card payments if I don’t have a formal business entity?

In most cases you will need a business entity and a variety of other proof you are accepting payments on behalf of a business to accept these payment types.

What’s the least expensive way to receive credit card payments?

Utilizing a merchant account is often seen as the least costly way to accept these transactions. 

About the Author

Kal Salem

Kal Salem

MA Accounting - Arizona State University

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. Kal started his career in public accounting supporting SEC, regulatory, and both internal and external audits. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA...

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