What are the most important factors to consider when selecting a credit card processing company; to process credit cards for your business?
When selecting a company to facilitate your credit card transactions is not a small task. Many merchants are confused by the complicated statements, contract terms, misconceptions, and fears. We hope by reading this, you can discern the differences between a credit card processor who has your best interest at hand, or a processor who has their best interest at hands.
Statements in the credit card processing world are very tricky and not easy to understand. They are almost like a jig-saw puzzle that must be solved. Sometimes you may have a enhanced bill-back statement, which won’t even show current charges. Its important to know what is coming out of your bank account each month, and how to match it up with your bank card merchant services and processing history.
How to select credit card processing
Contract terms are very lengthy in merchant services, and also auto-renew most of the times. This is particularly bad for the merchant if he is in a “bad deal;” because he cannot get out of the contract once signed. Make sure you know contract terms and agreements. Don’t always take your credit card processing sales rep’s word for i;, as 9 out of 10 times the sales rep in the credit card processing business for Visa and Mastercard are lying and not accurately telling the right information. The reason they do this is in order to have a personal gain of the commission.
Misconceptions in credit card processing is a very common thing. Most people think that machines are very costly, rates are very high, and fees should be charged for all sorts of conditions. This is not the case, in fact, credit card processing should be made simple, clear, and easy to understand. If it sounds too complicated, ask questions to your credit card processing and merchant services account rep. Do not allow a merchant services and credit card processing account rep confuse you without understand what it is they can offer you, so you do not have any misconceptions.
Is credit card processing for you?
Fears are a driving factor behind merchants who select a credit card processor. The reason is, mostly everyone has been lied to. Like I said previously, 9 out of 10 merchants are mainly lied to in order to be closed so I rep may earn his weekly commission. This thought process is very dangerous to yourself as a merchant when selecting a credit card processor, because you may turn a good deal down based upon fear of being exploited when, in fact, a deal is actually good or better than you are in; it comes down to knowing the facts. So if you need credit card processing, we hope you found this useful.