With 2017 quickly approaching, now is a good time to review all that occurred in 2016 for your business and plan for what improvements you can make in the year ahead. Business owners like to use this time as an opportunity to wrap up the year by reassessing their game plan and reviewing business operations models. This means considering changes in the way that you operate, or maintaining the status quo if it’s working for your company. When reviewing your payment processing statement or trying how to find the best credit card processing services for your business, consider these four factors in how merchant services are rated.
1. Fees
Make it a point to search for information on any ancillary charges you may incur, which typically include an application fee, statement fee, annual fees, set up fees, PCI compliance fees, IRS fees, and monthly minimums. All fees should be disclosed before you sign up by your payments partner (especially if they’re claiming to be the best credit card processing services provider). The last thing you want is a surprise on your monthly statement. Payline is committed to transparency and will never charge clients hidden fees.
2. Contracts
Look over contracts closely to ensure that you approve of all terms and that you are able to get out of it if you need to do so for whatever reason. Nail down the process for terminating service and any monthly fees that could be associated with that. A common mistake some businesses make is not paying attention to auto-renewal clauses that trap them into a long contract. With Payline Data, there are no contracts or cancellation fees.
3. Pricing
Merchant credit card processors offer different pricing structures for providing the same service so be sure to pay attention to the details. Payline Data offers scalable interchange pricing, which is fixed across regardless of credit card provider. Some payment processors use a tiered pricing system in which credit cards are bundled into different price groups. What ends up happening is that the most common cards like Visa, MasterCard, American Express, and others are put into an expensive basket so business owners end up paying more.
4. Equipment
The upcoming year is a good time to invest in physical credit card equipment, especially now that the sun is setting on the EMV liability shift. It will become more and more difficult to accept credit card payments in the future if your business is not equipped for EMV. Payline Data has services and equipment ready for EMV to keep merchants earning revenue seamlessly.
5. Why Personal, Real-Time Support is Important
Even though you know how to accept credit cards at your business, it’s possible that you don’t know what every number means on your processing statement. There is no doubt that you are paying various unavoidable fees as determined by your credit card processing services provider and card-issuing banks. These fees may seem unimportant with a quick glance of your statement but over time can add up to something that could hurt your business.
We recently wrote about the fees you may be overlooking. It’s important to work with a payment processor who will be honest about the fees you are paying each month. Payline can provide your business with a complimentary statement analysis where a dedicated representative will highlight the unnecessary fees you’re likely paying month-to-month. This is one easy solution that can show you where you can be saving money and increase profits by thousands of dollars at your business.
Payline continues to develop and improve upon their technical assistance and support to meet your needs. Have a question about your current plan or need assistance getting set up taking payments? Reach out to our top-notch team today. Is your current payment processor failing to provide you with the attention your business deserves? Payline is ready to help you process effectively so that you feel supported in your business.
Learn From Here Our Credit Card Processing Services
Want to work with a payment processor that won’t let you down in the new year? Contact Payline for the best credit card processing services so that we can help you grow your business into the future.
