Choosing your Credit Card Payment Processing Provider
Many small business owners are hesitant to simply accept bank cards because they are afraid every one of the fees and equipment costs, but fees are not the only thing to consider when you are buying a payment processor.
First, think about the sort of company you wish to do business with. You can find banks offering services that allow you to accept bank cards 소액결제 현금화, in addition to independent sales organizations and, sometimes, the credit card company itself.
The main advantage of working together with the same bank that’s your other business accounts is that it is easier for you yourself to cope with, and there may be someone local who you can call when you yourself have problems.
On the other hand, independent sales organizations do have more experience and are often more flexible in the forms of businesses they will work with.
When you’re looking around and researching the various packages that payment processing companies provide, here are a few things you need to focus on:
*Reliability: Does the network have lots of downtime? What happens once the network goes down? What kind of support structure do they’ve in position? Is there someone you can call 24/7?
*Products: What different varieties of payment processing products are available? Can they help you select what’s right for you personally?
*Extras: Does this method also process electronic gift cards, electronic checks or other methods of payment?
The greatest factor that a lot of people use to choose the merchant account company they want to choose, however, could be the price. There are lots of different fees related to accepting bank cards, including an application fee, the discount rate (a percentage of every sale), transaction fees and fees for sales made within the Internet or the phone.
There are also fees for statements, for not meeting the absolute minimum number of sales and for almost any returns or refunds you process.
Look carefully at all the different varieties of fees each company collects and what the rate is. If you’re expecting people to produce lots of small purchases with bank cards at your business, you may try to find the company with the cheapest transaction fee. If on the other hand your credit card payments is likely to be high, you might be more thinking about a lower discount rate. It will depend on which your priorities are.
One last thing you’ll want to consider whenever choosing a payment processing system is imagine if any costs you’ll incur from renting or buying equipment. Some companies offer free equipment for credit card processing, which may be a big positive that significantly reduces your up-front costs.