Choosing the Right Merchant Account Provider
Finding the best merchant processing company to suit your small business will take time. Each merchant processor has different features and benefits to offer and only after weighing up several options will you find the company that offers exactly what you need. Maybe you’re an eCommerce business that operates exclusively online, so you want a merchant processing company that has plenty of benefits for online transactions. Maybe your small business is seasonal, and you’re looking for a merchant processor who can handle your high traffic season without costing you too much during your quiet times. It may require some research, but you’ll find the company that provides the ideal processing package to suit your unique business needs.
Where to start?
When looking for a merchant processing company, the first step is to outline exactly what it is you’re looking for. This will help narrow down your options. For example, if you are a high risk merchant, certain companies have custom processing packages designed with your business in mind, while others do not offer high risk merchant accounts at all. There are several essential features to look for when choosing a merchant processing company. Some of these features will be more of a priority than others, depending on the nature of your small business, but they are all a necessity for an efficient merchant processing company.
- Attractive fee structure
Affordability is often the first feature small businesses look for in a merchant processing company. Making the shift to accepting card payments is not as financially demanding as many expect, but the more a business can save in the process, the better. Affordability does not just mean a low start-up fee – the best merchant processing companies will offer low rates too, as well as flexibility according to what services you want and on what time schedule.
- Easy and convenient implementation
Convenience goes hand in hand with affordability. When you sign up with a merchant processing company, your business should be able to start accepting card payments as soon as possible. The company you choose should provide quick and easy installation of all hardware and software systems, and should be able to seamlessly integrate new systems with your existing business structure.
- Security
One of the biggest concerns regarding card payment processing is security, especially for online payments. Credit card payments require high levels of security to prevent sensitive data being intercepted, and it is one of the first things that potential customers will look for when visiting your business. Make sure your merchant processing company is up to date with their PCI compliance and ask whether they employ any additional security measures that protects the data of both your clients and your business.
A merchant processing company that ticks these three boxes should be in your shortlist of choices. If you are still undecided on which company to choose, look for further benefits on offer. Features to look for include accepting all major credit cards, fast payment turnarounds, chargeback capabilities, and 24/7 support and assistance.
For more information about merchant processing companies or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.