When it comes to choosing a credit card processing vendor, there are no shortage of options. And somewhere between the services, the fees, and your individual payment acceptance needs is the perfect credit card processing company.
Seven questions that can help you make a decision
Businesses should consider the efficiency, quantity, and quality of the services a vendor provides, so ask:
- Can your system accept all major credit and debit cards? Are there cards it cannot accept?
- Are all cards processed at the same rate or fee? If not, what are the differences?
- Do you offer mobile solutions for on-the-go transactions?
- What protections to you offer in the event of a data breach?
- What kinds of customer support do you offer?
- Will your program integrate with my business’s POS or office management/financial software?
- What are all the potential fees my business could incur–and does this include a cancellation fee?
Each of these questions deserves an honest response. Before you choose a processing vendor, have a frank discussion about the services offered, and especially about the fees you will be charged.