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Choosing a Credit Card Processor: Merchant Services

If you are a small business owner, it is essential to think about payment accessibility. How many customers you can cater to will affect the extent of your business. With people being dependent on credit and debit cards, it is crucial that you’ll be able to accept them. For these merchant services, credit card payment processors will help you get that boost of sales that you need.

Now, there is still pressure on choosing the correct credit card payment processor for your business. There are many factors that you should consider, including fees, set-up time, types of payments accepted, and accessibility of customer support.

Why are these factors important? These are the reasons why.

Fees & Costs Required

Different processors charge different fees. The most common ones are:

  • Application fees - These may include set-up charges and the equipment that they will provide.
  • Gateway access fees - The data of the transactions need a payment gateway so that it can get connected with the credit card companies.
  • Monthly statement fees - Some processors charge for the costs of mailing you your billing statement every month.
  • Early termination fees - If you are unsatisfied with your client and you want to opt out of the contract, many companies charge a few hundred or thousands for it.

Time To Set Up

Credit card processors need some installment time before you and your employees will be able to use them. It is essential to know how simple or how complicated the process would be and if you can do it on your own right away.

Payment Methods Accepted

It is hard to turn away customers just because you can’t accept the payment method they are using. Depending on the business that you operate, it is important that you have a system that can accept credit cards, prepaid cards, gift cards, and an electronic transfer machine.

Customer Support

As credit card processors depend on technology and the machine, you will have some issues with them eventually. Sometimes, you may have questions on how things work, as well as how you are billed.

Therefore, you need a provider that will provide you with quick and easy 24/7 customer support and a direct relationship manager that is ready to help you whenever you need rescuing.
Do you need to learn more about merchant services and credit card processors? Explore the free resources from Processing Card today!

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