Starting your own business – Five Critical Questions to ask a payments processor

January 11, 2017

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One of the most difficult things to do when it comes to running your own business is understanding exactly what you should expect from a payments processor. Many people do not even understand why exactly they need one to begin with, let alone what qualities make one service much better than another. For that reason, we’re going to look at five critical questions that you should absolutely be asking your payments processor before you decide to sign up with their service. Hopefully, they help you ensure that you find services that offer useful tools like a wireless credit card reader rather than simply piling you with high credit card transaction fees.

What are your processing fees?

One of the first questions you should ask your potential payments processor is how much they are going to charge you per credit card transaction. Do not go with a service that charges too much! You want to make a profit on your sales, after all.

What is your customer service like?

You deserve a payments processor that offers stellar customer service. This means that you have a few different ways to reach them, and they have reasonable business hours that will enable you to get help when you need it.

What kind of technology do you offer?

Opt for services that offer things like a wireless credit card reader and other useful, up to date technology. Avoid services that do not offer you the technology you need to grow.

What services do you offer?

Different payments processors will offer different services. Some will offer a great number of merchant processing services, for example, which can help make your life easier.

Do you offer any incentives?

Some services will offer things like a free online merchant account to help make their service more affordable and cost effective.

When you need a payments processor that understands what they are doing, you need Merchant Account Solutions!


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