What To Look For With Credit Card Processing Merchant Services

Every business has the option to accept credit cards or not

. However, with the huge internet market and the shrinking number of people willing to carry cash, you will be almost hurting your business if you do not have a credit card merchant service.

There are a few things that you must consider when you are searching for credit card processing merchants to ensure you get the best deal. One of the things you will want to consider is if there is an annual fee. If so, divide it by twelve to see what the equivalent will be monthly. This will give you a more accurate perspective of what you are paying for your Credit Card Processing Merchant Services.

You will then want to look at the percentage fees. All credit card processing merchants charge a percentage fee for every transaction. This fee varies greatly between companies, so you must do your research and shop around. Many companies also charge a flat fee on top of the percentage that is usually around 30 cents give or take.

For example, lets say the merchant service you choose has a percentage fee of 3 percent and a flat fee of 30 cents per transaction. If you have a $100 sale, you will owe the credit card processor $3.30 for that transaction. These two fees are the major things you'll want to take into account when picking your service.

You want to be careful about hidden fees. The credit card merchant service may have low rates, but then hit you hard with an array of hidden fees. Read the terms and conditions very carefully.

It's important to know how long your agreement will last. Some companies require a 2 or more year contractual agreement. If you have such an agreement, you may be charged a cancellation fee if you choose to leave early.

Always make sure that the company you are dealing with is reputable. Check the company's history and ratings among customers and with organizations such as the BBB. Find out what Credit Card Processing Merchant Services your peers are using and see if they can refer you.

Choosing a credit card processor is one of the most important decisions you'll make for your business. It determines how much of your revenue processed by credit card you'll get to keep. You want a merchant service that has low rates, no hidden fees, and that is reputable.

by: George Williams

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