What to Think About When Switching Credit Card Processing Providers

What to Think About When Switching Credit Card Processing Providers

As a business owner, it is important to increase profits as much as possible. There are many ways to cut back, but your credit card processing is something you must have to stay in business. Without it, you would not be able to accept credit cards from your customers. However, you may find that it is beneficial to think about switching your provider as it could save you a lot of money. Before you switch, though, there are several things to consider.

Merchant accounts are subjected to many different types of fees. From interchange fees and monthly statement fees to monthly minimum fees and gateway access fees, the charges may seem astronomical to you. Never make the switch until you check out what the other company will charge. On top of this, you may also be charged with an early termination fee if you cancel service with them before your contract has expired.

Accepted Types of Payment
It will also benefit you to confirm what types of payment methods the provider accepts. It could do great harm to your business to find out that it doesn’t accept the type of credit cards that some of your best customers use at your business. Always confirm before making any change in processors.

Current Technology
The provider you choose should also be up-to-date with technology. Those who are not current are not going to take the latest forms of payment methods, including Google Wallet or Apple Pay. Many people are now using them, and, if your provider is not accepting them, it could turn into a loss for your business.

Customer Service
You also must consider the importance of their customer service and their help desk performance prior to any switch. Major problems can occur if your system goes down on a weekend and you suddenly find that no one is available to assist you in getting your system back online. The fact is that any business is only as good as the support they can provide you with.

Merchant accounts are a must when you own a business, but you do not have to sit back and do nothing when you feel your provider is taking advantage of you. Shopping around for a better provider is often the best choice in ensuring the longevity of your own business.

Contact CreditCardProcessing.com today to see how we can save you money while offering no setup fees or long term commitments.