When you’re ready to start selling your products and services, the last thing you need is the best credit card processing system that stands between you and your profits. Your customers will happily provide their credit card information if they feel secure and confident in the transaction. So it’s up to you to make sure that no problems or fears about having their identity stolen – or making a mistake – keep them from signing on the dotted line.
And as technology changes, so do the opportunities for safely accepting credit cards at your business. Whether it’s online shopping, mobile payment solutions, or just buying groceries at Wal-Mart, innovations are constantly coming out to ensure safer transactions with fewer errors and higher profits.
It might seem like a lot of work to stay on top of all the latest ways to collect payments, but it is very beneficial. Since most businesses are required to take credit cards, you can end up losing customers if your equipment isn’t working properly. And that means lost sales and less cash flow for you!
So here are some tips that can help simplify the process for you:
1. Avoid “bundled” credit card processing services – You typically pay more than double what other discount providers would charge because they don’t do any price comparison shopping and buy in bulk from a fewer number of suppliers. This gives them more room for profit by cutting out those pesky “middlemen.”
2. Get quotes from at least three different service providers. You may be surprised at the differences in price and services offered.
3. Look for a provider who specializes in your type of business. Restaurants have different needs than, say, a doctor’s office. Make sure you’re working with someone who understands your specific requirements.
4. Check into mobile credit card processing solutions – More and more businesses are accepting payments this way, especially small businesses that might not have brick-and-mortar storefronts. It’s a great way to take payments on the go!
5. Use a payment gateway – This is an online service that allows you to accept payments from customers all over the world, regardless of what system they’re using. It secures your customer data, conducts real-time validation of the card information, and reduces chargebacks for lost or stolen cards.
6. You can also look into high-risk payment processing – this is a good choice if you have more than average credit card disputes, but it does cost more so weigh the options carefully.
Merchant Services Credit Card Processor 