Qualities That Every Credit Card Processing Company Should Have

If you are a business looking for a credit card processing company there are many different qualities to consider before picking one. Here are a few of the most desirable qualities to look for.

Point of Sale Terminals

The point of sale terminal is the equipment that will gather information from a card when it’s swiped through a seamless electronic process. Most credit card processing companies will have different terminals and programs for those terminals available. Often they will require that you use one of their terminals, meaning if you have one already they may not allow you to use it. Many companies will allow you to lease a terminal with them. Some will allow you to connect a terminal you may already own. Make sure you are picking a terminal that is right for your business.

Wireless Processing

If you own a business that processes sales in trade shows, exhibits, fairs, or any other type of travel you may want to find a company that can support wireless processing. Most companies will charge an additional fee to add this feature to your account, but having wireless capabilities can open up an entirely new customer base. If you don’t travel now, but can foresee your business getting into travel, then plan ahead and find a company that has mobile capabilities available to add on later.

Customer Service and Tech Support

One of the most vital things of a processing company is the it's customer service and tech support teams. If you operate a business that runs beyond normal business hours, then having the ability to call tech support 24 hours a day is very important. If something happens to your terminal and you aren’t able to process transactions, you can lose valuable sales transactions and money. In some cases, this can paralyze a business and bring it to a grinding halt. Make sure the tech support and customer service teams are available during your normal operating hours, and have the staff to answer you in a timely manner.

Internet Processing

More and more businesses are building internet storefronts. If you have a product or a service, going online opens many doors for most businesses. You will want to make sure your credit card processing company offers online processing, shopping cart integration, and online customer service. If you aren't currently online, it may something that lies in the future, so keep that in mind.

Contracts and Fees

All credit card processors will charge a monthly fee and then usually a fee per transaction as well. These fees can vary based on the number of transactions expected every month, as well as the credit cards you will be accepting. Most processing companies will also want to lock in a contract. If you are just starting out, you will want to sign a minimal contract so you can get a feel for the company you are working with.

Compare the fees and the contract terms carefully before you choose a processing company. The ideal company will offer short term contracts, or discounts for longer terms, and low fees.

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Qualities That Every Credit Card Processing Company Should Have

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