Help Your Business Grow By Partnering with The Right Credit Card Processor

If you’re in the market for a new credit card processor, now is the time to be selective and discriminating; after all, given the current economic turmoil, it shouldn’t surprise you that it’s a buyer’s market – the perfect opportunity for you to acquire superior payment processing, or simply to improve on existing processing for your patrons’ credit card purchases. What are some factors to take into account when shopping around for a new credit card processor?

Technical Specifications

Most brick-and-mortar outlets are typically compatible with credit card processors from a technical standpoint, requiring merely Internet access. However, if you’ll be arranging online processing for a retail website, verify whether the credit card processor’s software is compatible with your existing shopping cart.

Budgeting: Fees, Penalties, and Pricing Structure

Decide how much you’re willing to spend for the right credit card processor before you take the plunge. Many companies today charge for server access and payment gateway fees, while others charge an initial start-up fee and perhaps an installation fee on top of your monthly service charge. Additionally, some credit card processors will charge a fixed percentage on each transaction.

Fraud Protection

Ensure that your business will be protected from troublesome and problematic transactions like those involving identity theft. More importantly, consider that, when a customer or client of yours has such a negative experience in your store – as unfair as it may be – they will forever associate that trouble with your business, and not your credit card processor, as they should.

Local Or International?

If you plan on processing international transactions, understand that the fees involved will typically far surpass local charges. So if your business doesn’t focus on international patrons and their transactions, you should sign on with a credit card processor in your local market. Further, figure out which major credit card brands you’ll be accepting before you fully commit to a credit card processor contractually

Customer Support

Seek high-quality, 24-hour assistance for help with your processing issues. As a highly technical industry and service, your credit card processor should be there for you in case things go awry; this way, you’ll solve problems far more quickly and easily.

Finding the right credit card processor for you, out of the seemingly infinite sea of credit card processing companies out there, demands patience, strategy, and above all – caution. Consider all of the above issues when you’re thinking of partnering with a certain credit card processor, and you’ll end up happy with your decision in the long run.