You’re a small business owner who wants to be successful, so you know that it’s imperative that you select a credit card processor who will help you in accepting credit cards online. Before you invest in a payment processing solution, consider the following to ensure business growth.
What You Should Know Before Accepting Credit Cards Online
Pricing
For merchants running a small business, pricing is typically the top factor that is considered for almost all decisions. That’s why it’s important to choose a processor who has a reputation of transparency. A business owner must first recognize that credit card processing involves more than just providing a terminal or a gateway – credit card brands and banks are just a few of the other players that charge you a fee for the role that they play in your ability to accept credit cards online or in store. A transparent payment processing company will provide you with a detailed breakdown of where you are being charged (and why) so you can determine if their processing is realistic based on your monthly transaction volume.
Application & Setup
Some payment processing companies provide customers with an online application, but many processors seek to provide a custom pricing plan that best suits your business’s needs and growth plan. It’s up to you, the business owner, to decide if you’re looking for a hands-off processor or a processor who will work with you through the application process. Review sites are a great reference point when determining new business opportunities.
Security
Just because you’re accepting credit cards online, it doesn’t mean that you’re automatically safe from the threat of crime against your business. If anything, you’re more vulnerable to hackers and security breaches when your entire business is online. That is why you need to look for a processor who has the right security in place and is completely PCI compliant. Otherwise, you take on a huge risk when you accept credit cards online, and risky business practices are turn-offs for consumers.
Already accept credit cards online? Great for you! If reading this made you feel like you need to shop around for a new processor, get in touch with us today. We are here to guide you through the process and help you save money for your business.
