Performing A Merchant Account Comparison
Performing a merchant account comparison the right way, you are much better able to make the right decision regarding the eventual merchant account service provider you’ll partner with to make all your payment-processing needs flow smoothly – and minimize any potential risks you may experience with fraud. As a business owner, you’re very likely already familiar with some of the basics of screening potential merchant services via merchant account comparisons, so it comes as no surprise that you should take into account several different factors regarding the performance, reputability, and ultimately, the suitability of your candidates.
But what are some of the criteria by which one may judge prospective providers through a merchant account comparison? Take these factors under consideration when you’re shopping around:
Payment Structure: Although you may think most business owners and entrepreneurs would be the first kinds of people to give this some thought, the truth is that, with merchant account comparisons, you have to look at how often you’ll be paying into the service, and how that relates to the everyday function of your business. Is the payment structure based on the volume of sales? Is it just a flat, monthly rate?
Fees: This is one aspect of a merchant account comparison that we consider the most important. So many merchants end up paying out gargantuan cancellation and late fees to their merchant account providers, and often, they have no clue about the surprising fees before they’re issued. Be sure to thoroughly look over your contract terms and conditions during your merchant account comparison.
Compatibility: While this is somewhat intertwined with the first two aspects of our merchant account comparison guide, you have to look into other – more people-oriented – factors, like how your potential provider communicates with its clientele, how much assistance they’ll provide, should you have a question or concern, and the overall alignment of your business goals with the provider you end up choosing. During your comparison, this constitutes the bulk of the work – but it’s well worth it.
If you have any more questions on the topic of merchant account comparisons, or if you’ve already made the comparisons and decided that Vision Payment Solutions is your best option, then pick up the phone and call us today at the number above. You’ll be able to speak with a real human being – and get answers to your questions in no time. Give VPS a try, and throw your old merchant account comparisons out the window.