How To Switch Credit Card Merchant Accounts

If you have been running your business for quite some time, you may have reached a point wherein you’ve considered switching your credit card merchant accounts. Merchant accounts are essential for any business’ ability to accept credit or debit card transactions. You might have found a more cost-effective option, or one that has more responsive customer service.

Should this be the case, here are some steps to follow if you intend on switching your credit card merchant accounts — from reviewing your contract once again to checking your software integration. 

1. Review your initial contract for possible penalties and charges on early termination fees.
2. Think carefully about the costs involved through a credit card processing statement review, and compare this with what you are currently paying. 
3. If you use integrated software, make sure that it can integrate with your potential merchant account provider.
4. Double check if your loyalty or rewards cards will continue to work with your new merchant account.
5. Make sure that your new provider can grow alongside you as you scale your business.

Want additional information on how to choose the best merchant account? Processing Card can help you with that. Check out our guide to merchant accounts today!