As a business owner, being able to accept credit cards isn’t just a convenience, it’s a necessity. However, the support your processor offers isn’t always simple or straight forward. As an eCommerce site operator there are a number of things you should know about credit card processing merchants before you agree to a contract with one.
You need to consider what’s necessary for your business and payment processor. Here are three important things you need to know about payment processing merchants.
Not All Rates Are Equal
Each of the many credit card processing merchants offers different discount rates, fees, transaction costs, payment tiers, chargeback rates, and more. When it comes down to it, all those rates and fees can add up and you can end up shipping away more of your profits than you need to.
Furthermore, based on your business model, ticket prices, and other factors, you may need to sign up for a different type of account with different pricing models. You need to find a processing merchant that offers clear cut fees and rates that work with your budget and your sales goals. Make sure you have a clear understanding of all rates before you agree to the terms. Ask questions when discussing rates with providers, and make sure you understand how different cards will be processed and charged.
Is Your Merchant Secure?
After you consider costs, security should be your primary concern when taking into account credit card processing merchants. Give your customers the peace of mind they need when shopping or spending on your site. Security is important to your customers. You need to ensure that their sensitive personal information is safe by choosing a payment processor that offers state of the art security.
Of course security isn’t just about your customers, it’s also about your business and your bottom line. The best credit card processing merchants will have anti-fraud security measures in place that help protect you from fraudulent purchases, theft, and chargebacks. In other words, your payment processor’s security should keep you, your customers, and your profits secure.
Will It Work
Finally, your payment processor should be reliable and compatible with your system. Some payment processors aren’t compatible with certain shopping cart software. You need to verify that your website, shopping cart, and payment processor will work seamlessly together. Ensuring that your payment processor is reliable and will operate in tandem with your shopping cart software is vital when choosing a processor.
Choose a Professional Partner
One of the most essential aspects you should consider is choosing a professional company with a proven track record of providing reasonable, clear cut pricing, award winning security, 24/7 customer support, and the ability to work with your shopping cart software. Allied Wallet has a long history of providing individualized credit card processing for companies both big and small. Contact us today to discuss your business, sales goals, and growing your company growing. Plan for success, partner with Allied Wallet.