Credit Card Processing Business Plan Sample Template


Starting a credit card business can be financially rewarding especially when you get things right.

However, with establishing a successful credit card business comes enormous logistic and operational challenges that need to be surmounted.

Due to delicate nature of the business, which involves financial transactions, it is necessary that the right attitude and preparation need to be put in place.

Although daunting, at the on-set, this business if diligently and patiently established can make the big difference financially and otherwise.


What Type of Credit Card Business Do You Intend Starting?

This is a burning question that will need an answer. If you plan on starting a card issuing (general purpose) credit card business, then, this requires huge resources (financial). In this type of business, banks are normally involved.

It involves giving out loans and credit to people through the issuance of this credit card, which normally has certain repayment interests.

Popular credit card companies such as MasterCard or Visa normally require financial institutions to become their member before issuing cards bearing their logo and using their technology.

On the other hand if the type credit card business is that of the issuance of cards through marketing with the issuer’s brands, then it will do well to consult the financial institution whose credit cards you are marketing.

Sometimes, an agreement between the marketer and issuer might be entered into which may involve the card bearing the marketer’s identity.

Whatever the case, it will do well to have a full understanding of the type of credit card business to start.

Here is a sample business plan for starting a credit card business.

  • Knowing Who to Work With

This is an important factor to consider when starting a credit card business. But what does “knowing who to work with” mean? It simply means that before starting your credit card company, a good knowledge of the credit card company to use is essential. Still don’t understand?

Take for instance a credit card business is to be established; there are notable credit card companies such as Visa and MasterCard which both have global acceptance. Knowing the right credit card business that will work well for the company is very essential.

  • Be Credit Worthy; Own a Working Business

This point should not be taken lightly. Credit card originating companies usually take the financial strength and worthiness of their partners/affiliates very seriously. This means that before thinking of starting a credit card business, the individual must have had a sound financial history, and ability to adequately fund and run his/her business with minimal disruptions.

  • Marketing is Golden

After having secured the rights and permissions of starting the credit card business, it is pertinent to not that establishing the credit card business in itself is not enough to start yielding profits.

It is very necessary to ensure that an efficient marketing system is put into place. It will do well if the service of an experienced marketing specialist is hired. Such experience will benefit the credit card business immensely, as an efficient marketing structure is developed to achieve the widest coverage.

TV and radio adverts, fliers and handbills among several other marketing strategies can be taken advantage of. The secret is, the more people get to know about your business, the greater the chances of your credit card company succeeding, as it ramps up patronage considerably.

  • Setting Up an Incentive Program Will Help

Setting up an incentive program for your credit card business will greatly impact on profitability. In the case of the replenishment of pre-paid credit cards, you should not allow your customers to have replenishment issues.

Immediately the credit cards need replenishment, these should be provided at friendly rates to users. Also, significantly reducing fees charged to new clients on transactions could be the magic to attracting new clients.

Once clients notice a discount in your credit card service, they would market your business by telling friends, families and acquaintances about the deal they get from your business.

  • Your Workforce Determines Your Altitude

This is true for any business concern including a credit card business. It will do well to hire a vibrant workforce that share in the business’ passion. Once the workforce has a strong commitment to the business, the sky is the limit!

However, this is not enough, hiring people with the right skills and attitude is important. People possessing the necessary experience and have demonstrated considerable understanding of how the credit card business works should form the bulk of your workforce.

  • Have Your Unique Design

Although the originators logo will be on the credit card, the flexibility of having your own special design put on the credit card will make users develop as level of confidence on the capability of your credit card business to fulfil their credit desires. It is important that this should not be taken for granted as impression counts significantly.

There you have it! To start a credit card business, a lot of logistics and preparations need to be put in place to ensure the smooth take off of business operations. It should be ensured that customer satisfaction is taken in high regard, as failure to do so will result in losing clients.