Choosing the best online payment processor for your business is a highly crucial decision. Businesses today are more dependent on credit transactions than ever. Industry research firms expect continued growth in credit card use in 2014, as well as more people relying on reloadable prepaid cards and digital wallets.
That means that without a reliable credit card-processing service your small business will be at a serious disadvantage. The most convenient form of credit card-processing services for the small business segment tend to be online services.
Choosing an Online Payment Processor
When deciding on your choice for the best online payment processor, you should search for the best online credit card processing price. There are several costs that you need to consider. First, there is often a startup cost that will cover setting up the merchant account and getting the processing engine configured on your website or your physical location.
Then there are several ways providers can charge for their services, including a variable per-transaction charge, depending on a minimum/maximum number of monthly transactions, a flat per-transaction fee regardless of the number of transactions processed, or a month-to-month payment plan without any annual or minimum commitments.
Processing services also differ in the percentage charged for every transaction depending on which payment gateway is being used. Make sure you understand those charges before committing to the best online payment processor for you.
Debit Card Processing
More people are switching from using traditional credit cards to compatible debit cards. However, managing a debit card transaction is different from managing a typical credit card charge, so your service needs to specifically support debit cards.
Security should be one of the primary factors when deciding on the best online payment processor for your business. With recent headlines concerning the theft of not only online but also point-of-sale credit information, ensuring that your service provides adequate security is more important than ever. Key features include support for VeriSign SSL certificates, transaction billing address, and CVV2 verification.
Payment processing is critical to any business, so problems need to be addressed immediately. Even so, customer support can vary widely between these service providers, ranging from 24/7 phone support to just email response with a 24-hour delay. Generally, the more in-depth the customer support capability, the more expensive the service. Evaluate this feature carefully and make sure to make the right choice for your business.
At Allied Wallet, we meet the highest level of the industry security standards. We have utilized Certified PCI-DSS Level 1 measurements since 2007. By being securely encrypted with a 128-bit Secure Socket Layer (SSL), website processing is protected safely. The implementations set forth by Allied Wallet are designed to function as a secure credit card processor.