How do I switch over card payments after buying a business?

Customers do not think about who processes their card. They only notice when the terminal stops working. For a shop, restaurant or service business, a gap in card payments on the first day can mean lost sales and a poor first impression. Settle the plan with the seller and your payment provider well before closing, not in the days after.

A new account or the old one

The usual choice is between opening a merchant account in your own name and asking the processor to move the seller’s account to you. A fresh account keeps your records clean and leaves the seller’s history behind. Taking over the existing one may be faster, but the processor will set its own conditions and may want to review you as a new customer. Ask what each route requires.

Terminals, software and ownership

Find out whether the terminals and point-of-sale system are owned, leased or rented from the processor, and whether the contract can be transferred. List them in the purchase documents so nothing is left out by accident. Check who holds the login to the software, and have the seller hand over administrator access on closing day.

Time the cut-over with closing day

Aim to have your account live on the first trading day, and run a test transaction before doors open. Make sure deposits land in your bank account from that date forward. Card sales are paid out after a delay, so some pre-closing takings will still reach the seller. Agree in writing how that money, and any later chargebacks or refunds on earlier sales, will be passed back and forth.

Online payment links

If the business takes payments through a website, invoice links or an app, check which account each one is tied to. Update the details, test each link and tell regular customers if an invoice now looks different. See our page on taking over a business after closing for the wider checklist.