You can find a complete array of merchant services companies out there to help you accept credit and debit card payments. But you must be cautious when looking for the best company, as every option you have will feature different points of value. Here are a few useful points to see when looking for a merchant services team you can trust.
How Can a Company Help You Process Payments?
A merchant services company should assist you in processing whatever payments you wish to manage. A team can help you with many systems:
- Physical POS setups with card-reading terminals
- Mobile POS systems for on-the-go transactions
- Online ecommerce sites with interactive shopping carts
These features can work for various needs, but you should ensure a company can support whatever unique transactions you wish to complete.
What Fee Schedule Works?
A merchant services company will also have an average credit card processing fee schedule. Check with whoever you hire to see what solution it provides:
- An interchange-plus fee will entail a charge based on the type of card you’re managing.
- A flat-rate fee involves the same charge for each transaction. The charge appears regardless of the card type.
- A tiered structure involves different fees based on the transaction value.
Watch for whatever rates a company issues. Some companies might trick you by listing information on the lowest possible rates you could spend on transactions. You’d likely spend more on transactions than what someone might like to promote.
What Does the Customer Service Department Entail?
The best merchant services company will be there for you twenty-four hours a day. It can offer support by phone or chat, or you can send an email if you have a unique need. A team should be there for you well after you agree to sign up and not just before you start.
Are There Any Contracts?
Look at whether a team will require you to enter a contract for services. The best companies will not force you into any long-term contracts for service. Such contracts may come with unfavorable teams that you might be stuck with for a while.
What Equipment Can You Utilize?
You should also note the equipment you can use when managing payments. A company can provide traditional POS computer systems for a retail space, for example. It may also include small tablets or smartphone devices you can use for mobile transactions.
All equipment must be PCI-compliant and should feature interfaces that help you manage your transactions in moments. The equipment should also be available for outright purchase if possible. Don’t enter any lease programs, as it might cost more to lease equipment than if you purchased it yourself. You may also have limits over what you can do with your items if you lease them.
All these factors will help you find the best merchant services company your business can trust. Be sure you look around to see you can find an entity that fits your unique needs for handling your customers.