Business Idea

Start A Credit Card (Atm Card) Processing Business

About

Starting a credit card (ATM card) processing business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell credit card processing, or selling credit card processing online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a credit card (ATM card) processing business ➜

Key stats

market size
$722B
starting costs
$26.9K
gross margin
3%
avg product price
$180
time to build
6 months
growth
SEO
time investment
Full time

About

Starting a credit card (ATM card) processing business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell credit card processing, or selling credit card processing online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a credit card (ATM card) processing business ➜

Key stats

market size
$722B
starting costs
$26.9K
gross margin
3%
avg product price
$180

 

time to build
6 months
growth
SEO
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $563 $5,200
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $2,300
Other Expenses $0 $800
Total Startup Costs $7,529 $46,361

Successful Businesses

Business URL Rank
Alliant Credit Union alliantcreditunion.org #51,178
payUSAtax payusatax.com #97,923
Helcim helcim.com #99,208
PesoPay pesopay.com #144,101
Florida Credit Union flcu.org #164,368
San Mateo Credit Union smcu.org #246,906
Nilson Report nilsonreport.com #342,104
Leaders Merchant Services leadersmerchantservices.com #434,815
Islanders Bank islandersbank.com #619,975
Best Credit Card Processing Services, Merchant Services, Cash Advance, High Risk Processing Companies topcreditcardprocessors.com #680,981
Global Processing Systems gprocessing.com #1,334,257

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Meaningful business connections You never know who you will meet as a credit card (ATM card) processing business. This could be the start of an incredible business opportunity!
Control of workload With starting a credit card (ATM card) processing business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Unlimited income potential With starting a credit card (ATM card) processing business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
Predictable income stream Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.
Time commitment With starting a credit card (ATM card) processing business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Difficult to build trust with your customer With starting a credit card (ATM card) processing business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.
Strict regulations With any credit card (ATM card) processing business, there are strict rules and regulations as it relates to processing your product. You must follow these regulations specifically, or significant legal issues could occur.
Complex development process. The development process for a credit card (ATM card) processing business can be quite complex, which may cause delays and challenges when launching and growing your product.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 3

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.