Finding the right credit card processing company to accept payments is one of the more important decisions businesses must make. It is truly the lifeline for any business, and while businesses heavily invest time and resources into marketing to generate more sales, they often neglect choosing the right partner to capture those sales.
When researching a payment processing solution, consider the following:
Versatility, Reliability, Security, Speed and finally, Costs.
While most payment processors provide a similar service to their users, the typical setup process tends to be rather complex, with rather complicated service agreements. Add to the equation a customer service experience that is frustrating to say the least and it becomes a great recipe for disaster.
In my 14 years of experience in the payment processing industry, I found that the vast majority of customers who have chosen my services have done so for the following reasons:
• Customer Service – They wanted to know they mattered and weren’t just another a “account”. Does your credit card processor know you by name?
• Integrity – do you find yourself having second thought about your service provider?
• Clarity – they simply wanted to know what kind of service they could expect
• Costs – this came last because many providers can save you money, yet few can deliver on all 4 areas combined!
Another point to consider, do you know if your merchant processing company plans on staying in business? Are they a startup that is looking to sell to the highest bidder? Payment processing providers often tend to build up a large portfolio of customers in order to sell the majority of them to a much larger payment processing company where they stand to profit a large sum. When such a sale takes place, business owners or merchants will usually discover their payment processor has changed and a few months after the change their rates have increased. Why? The new payment processor is now looking to get the ROI or Return on Investment as soon as possible and start earning profits.
Have you experienced any such changes recently? If so, consider the above details when searching for a new payment processor.
To learn more, contact us here and ask us how to be better prepared and equipped!
Israel Zuela – Founder, Instapay Services, LLC