Payment processing is all about the particulars. There are a great deal of payment processing companies out there contending for your business. Choosing the best one for your business is crucial – yet it can often be a confusing process. All companies claim to be the best, but only a few select merchant providers can truly back up that statement with facts. If you are unfamiliar with the role of the payment processor; they are the service that provides your organization with the ability to accept credit and debit cards, as well as ACH payments.
There are some important aspects that every business owner should consider when choosing a company to partner with. Not all payment processors are created equal. So without further ado, the following information will educate you in the important aspect of a successful and viable merchant service provider.
The Payment Processor Should Be Established
Online commerce has grown at an astonishing rate in recent years. That means a lot more companies need merchant accounts. Since demand is high, there are multitudes of new merchant providers in the marketplace. Although they may be overly enthusiastic to earn your business, there is simply NOTHING that can replace relevant industry experience. You want to work with a payment processor with a proven track record and years of established payment processing experience. It is smart business to avoid novices no matter how attractive their products and services may sound.
The Payment Processor Should Provide 24/7 Customer And Technical Support
Problems often arise when you least expect them. You may very well have a payment acceptance issue in the middle of the night, during the weekend, or on a holiday. It is important to partner with a payment processor that offers customer and technical support twenty-four hours per day, seven days per week.
Many merchant account providers offer email support, however, when a problem occurs it is important they offer live support as well. In many scenarios, it is easier and more efficient to speak with a live representative that can provide immediate solutions to the problem at hand.
The Payment Processor Should Verifiable Security
Identity theft, fraud, and stolen financial data is a real danger when processing payments – no matter whether in person, online or over the phone. Criminals are always searching for a weakness in any system, therefore it is necessary for your payment processor to stay ahead of curve. Data breaches can cause significant damage to your company’s reputation. Consumers do not want to purchase goods and services from businesses that fail to protect their personal and financial information. Look for a payment processor with verifiable security and compliance standards to safeguard your business from these potential threats.
The Payment Processor Should Have Solid References
Although asking for references may seem obvious, many business owners skip this step when interviewing new payment providers. It is important to communicate with other clients, particularly ones that own or operate companies similar to yours. A top-notch payment processor should be more than happy to supply you with a list of happy clients.
Payment Savvy specializes in providing businesses of all types with the ability to accept safe and secure credit card, debit card, and ACH payments. Please contact Payment Savvy today to have a custom payment acceptance solution created for your business. We look forward to hearing from you and working with your company.
If you have enjoyed reading this article and found it informative, please share it with all of your contacts on social media. Payment Savvy greatly appreciates your efforts in this manner. Please stay tuned for more interesting articles.