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 in trying to find best credit card processing services, consider these four factors in how merchant services are rated.
Make it a point to search for information on any ancillary charges you may incur, which typically include 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.
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 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.
Merchant 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 a 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.
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.
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.