How to Choose a Company for Merchant Processing Services
However, not all merchant processing services are the same –– they are differentiated by their features, support, convenience, and price. Thankfully, you don’t have to sweat if you’re looking to upgrade or add merchant processing services to your company. Here are four ways you can identify the perfect company to service your business:
The Price Needs to be Right
Securing a competitive rate from your merchant-service provider should be a priority. That much is obvious. However, be wary of the “sticker price” on any given contract.
Some companies and banks will charge different rates depending on the size of your business, the number of transactions you make, and even how long it takes to transfer funds to your bank account.
Ask probing questions regarding price to determine the “true cost,” of a credit-card service provider.
Reliability in Merchant Processing
It should be a given, but not all credit-card transaction services run smoothly. There are few things quite as annoying as dealing with a merchant-service company that doesn’t deliver.
So enquire not only about the breadth of service a company will provide you, (such as the number of accepted payment methods) but also about their IT support.
The last thing you’ll want to do is spend valuable time and energy sorting out mistakes on your credit-card transactions.
Find the Perfect Processor for Your Business
Perhaps the most important factor in determining which merchant processing service company is best for your business is how well they complement your company.
So before you go looking for the biggest and best company to help you service credit-card sales, you need to ask yourself some questions: how quickly do I need this service?
How many sales am I likely to process in a given year? What do I need it for? Am I going to use it for in-person credit-card sales like at a restaurant or retail location, or to help set up an online store?
It may sound like a chore to consider all these factors, but if you don’t you could wind up paying for services you don’t need –– or alternatively being left short where you need more backing. Doing your homework on this matter will pay big dividends down the line, though.
Talk to the Pros
If you’re feeling unsure or overwhelmed looking for the right merchant processing service company for your business, then know that there are professionals available to assist you.
You can contact the National Business Capital & Services team today at (877) 482-3008 and see how we’ve helped restaurants, retailers, and all kinds of internet-based business secure this vital service.
Business Funding 101: When Banks Say “NO,” Alternative Financing Says “YES!”
Download our free eBook on alternative business financing, and learn the benefits of alternative financing companies –– who’ll say yes when the banks say no!
National Business Capital & Services is the #1 FinTech marketplace offering small business financing and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time.
For every deal we fund, we donate 10 meals to Feeding America!