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How to Find the Best Credit Card Processing Services for Your Business

BluePay is pleased to bring you this valuable information from our partner, Due, makers of a free digital wallet that allows users to easily make and accept payments online.

Once you decide that your small business is ready for the next stage of growth, and are preparing for the rush of new customers after you start accept credit cards in-person, online, via mobile or all of the above, it’s time to find the best credit card processing partner available. Because of the increase in demand for credit card processing services, companies seem to have popped up everywhere. While that’s great in terms of competitive pricing and service selection, the wide range of credit card processing companies also makes it difficult to know which one is right for your business.

Here is a strategy for selecting the right credit card processing partner:

  • Check out credit card processing review websites. This is a good first step but should not be your only research. These review sites provide a good list of credit card processing companies to use as a basis for further investigation and often list the benefits and risks connected to each company. There is usually a way to compare a few of the companies in terms of their costs, fees, features and services. Sometimes, they even include further reviews from customers that provide some indication of the service and satisfaction others believe they have received. Keep in mind however, that these types of websites do not include all processing companies. Many companies are featured on these websites as a form of advertising, so the lists may be limited. 
  • Google search each credit card processing company you are considering. A Google search often brings up other sites where customers have spoken their mind about any experiences they have had with that credit card processor. It’s good to see what similar businesses think as an indicator of the service you might receive.
  • Consult the social media sites of these credit card processing companies. Most businesses have some type of social media presence that is worth looking into because there will most likely be some type of comments or feedback on there that provides a further sense of each company.
  • Study their fee structures and requirements, and read the small print. Pay careful attention to the type of fees and requirements each credit card processing company lists and be sure to read the small print attached to that information. You don’t want to work with any credit card processing company that is not transparent about their costs and requirements because you will be hit later on with unexpected expenses.
  • Contact potential credit card processing companies and determine how they react, and what they are willing to negotiate. While they may be on their best behavior when you inquire about credit card processing as a potential new customer, you can still get a sense about whether you would want to work with them or not when you start trying to negotiate the reduction or elimination of certain fees. Those credit card processing companies that are willing to negotiate show flexibility and are definitely ones to keep on your short list of potential payment processing partners.
  • Ask sources like the Better Business Bureau (BBB) about any complaints that have been recorded. Organizations like the BBB are designed to stay on top of businesses and hold them accountable to a certain level of ethical standards. You can check with them to see which – if any – credit card processing companies you are considering have had any complaints filed about them and their business practices. You certainly don’t want to get stuck with one that has questionable practices.
  • Weigh various factors that are important to maximizing your time and money. Get specific information from credit card processing companies about how long it takes to get set up, how much support is available over the phone and online, and what learn about the types of payment technologies you can work with that may integrate with your existing software. Find out when and how their customer and technical support staff are available to help you because you will need to be able to reach them at any point in the week.
  • Find one that meets your specific needs. While there are many reputable credit card processing companies, there may be just a handful that actually serve your specific needs. Have a list of needs ready like you require mobile processing, online payments, or both; whether you run a large physical location or a small business; and the frequency and volume of your credit card processing. You may need POS equipment or some type of device for mobile processing. Looking for a credit card processing company that addresses these needs is a much more effective strategy than selecting one just because they are the lowest priced one you could find.

While it will take patience and perseverance to do the research and due diligence, it will be worth it to your business in the end because you will have a credit card processing service that adds value and helps you grow your business.

Download Our Checklist: What Does Your Business Need to Accept Credit Cards? 


Topics: Partner Posts, Guest Blog Posts, Getting Started with Payments

Welcome to the BluePay Blog!

Whether you're a small business, an enterprise corporation, a financial institution, or a software partner, we have created a series of blog posts to help you and your customers, learn more about the complex nature of payments. Take a look to learn how payments can help to simplify your business operation, and may even help to grow your revenue.

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