Opening a business in Virginia? Get card payments sorted before your first customer.

Whether you are opening a restaurant in Richmond, a shop in Roanoke, a salon in Norfolk, or a service business anywhere in the Commonwealth, this page covers what equipment to plan for, what a merchant account application asks for, how long things usually take, and what to ask any processor before you sign.

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What to get right

Match the POS to how your business actually runs

Different businesses need different things from a point-of-sale system. Restaurants need tip adjustment, split checks, and a way to keep tables turning without waiting on a card reader. Retail shops need inventory tracking, barcode scanning, and a clean process for returns and exchanges. Salons and spas need appointment booking, deposits for no-show protection, and tips that go to the right stylist. Service businesses, from contractors to consultants, often need invoicing, card-on-file billing, and a way to take payment on site from a phone or tablet. Write down how a typical sale works for you before you look at equipment, and choose around that.

Have your paperwork in order before you apply

A merchant account application usually asks for your legal business name and entity type, your EIN (or Social Security number for some sole proprietors), a business bank account for deposits, a government-issued ID for each owner, and a description of what you sell and how. In Virginia, LLCs and corporations are registered with the State Corporation Commission, and if you sell taxable goods you will typically register with the Virginia Department of Taxation. Most cities and counties also require a local business license, so check with your local commissioner of the revenue or business license office for what applies to you.

Understand how you will be charged

Pricing is where many new owners get surprised later. Ask for pricing in writing and make sure you understand every line. TouchSuite uses interchange-plus pricing, which means you pay the card networks' actual cost plus a fixed margin, so you can see what goes to the networks and what goes to us. If you would rather eliminate processing cost, a cash discount program is also available, though you should check that it fits your customers and how you price.

Connect payments to the rest of your tools

If you plan to sell online, use accounting or ERP software, or keep a customer list for repeat business, think about how those connect to your POS from the start. With a TouchSuite merchant account, our ERP, CRM, and e-commerce integrations are included at no monthly fee, which saves you from re-entering sales by hand or juggling separate systems.

How it works

  1. Set up the business basics. Form your business entity, get your EIN, open a business bank account, and handle state and local registrations. Timelines for registrations vary, so check with the State Corporation Commission and your city or county office early, ideally several weeks before you plan to open.
  2. Talk through your setup with us. Tell us what kind of business you are opening, how you expect customers to pay, and what software you already use. If you have run a business before, send us your most recent processing statement and we will show you, line by line, what you are paying and beat it, or tell you honestly that we cannot.
  3. Apply and get approved. Submit your application with your entity details, EIN, bank account information, and owner ID. Approval time depends on your business type and how complete the application is, so having everything ready helps. Qualifying merchants receive free terminals and POS hardware with no upfront cost.
  4. Start taking payments. Most merchants are processing within 24 to 48 hours of approval. Leave yourself time before opening day to set up your menu or product list, run a few test transactions, and train anyone who will use the system.

Questions to ask a processor

What is the contract length, and what happens if I want to leave?

Ask every processor this directly and get the answer in writing. TouchSuite accounts are month-to-month, and you can cancel anytime with no fees.

How exactly will I be charged for each transaction?

Ask for a written breakdown of pricing, not just a single headline number. With TouchSuite you get interchange-plus pricing: the card networks' actual cost plus a fixed margin. If eliminating processing cost matters more to you, ask about our cash discount program.

How soon will I be able to accept cards?

It depends on when you apply and how complete your paperwork is. Most TouchSuite merchants are processing within 24 to 48 hours of approval, so apply well before opening day rather than the week of.

Will the system handle the specific way my business works?

Be specific when you ask. A restaurant should ask about tip adjustment and split checks, a salon about appointments and deposits, a retailer about inventory and returns, and a service business about invoicing and taking payment on site. If a processor cannot answer clearly, keep looking.

Does it connect to my accounting, online store, or customer software?

Ask what integrations exist and whether they carry extra monthly charges. With a TouchSuite merchant account, our ERP, CRM, and e-commerce integrations are included at no monthly fee.

What do I need to know about Virginia sales tax and local licensing for my POS?

Your POS should be set up to apply the correct sales tax for where you sell, and requirements can depend on your locality. Check with the Virginia Department of Taxation and your city or county office for what applies to your business, then configure your system to match.

Planning your Virginia opening?

Tell us what you are opening and when, and we will walk you through the equipment, the application, and the pricing in plain terms. If you already process cards, send your latest statement and we will tell you honestly whether we can do better.

An email or a phone number is enough.

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TouchSuite · 800-793-3250 · Month-to-month, cancel anytime, no fees.