Choosing a Service

Price should be just one of the factors you use when deciding which provider to use. You also should consider the other features of a given merchant account provider. Customer service also is an important part of choosing credit card merchant services since you will be contacting them frequently, especially in the beginning. Moreover, any problems you run into with processing need to be dealt with quickly; otherwise, you risk losing your sale. The last thing you want is to lose money as a result of credit card processing.

Since customer service is so important, don’t be afraid to get references from other companies that have used your same provider. Referrals will help you ensure that you are dealing with a reputable company that puts an emphasis on customer care. Find out what the wait time is to get to a customer service representative (on average) as well as how the company deals with chargebacks. Find out what their hours are – 24 hrs., 7 days per week is preferable – how much they charge for each incident, the level of knowledge of their representatives, and so on. Also, if you engage in a number of card-absent transactions, find out if your provider offers the option to encrypt credit card information – commonly known as Secure Sockets Layer (SSL) protocol, the defacto means for transmitting data privately and securely over the Internet. This is an important feature for an online credit card processing company.

Moreover, if you are using a company you have never heard of or one that does not have any customer referrals, be cautious. The most important aspect of hiring a small business merchant account provider is making sure it is a legitimate business. There are many companies out there just looking for a business to swindle and those bad seeds ruin it for the companies that are actually in business to help companies.

Always check a provider’s rating with the Better Business Bureau and taking any complaints made against it seriously. In fact, feel free to question the provider on any disputes you uncover and if you are unsatisfied with the answer, keep shopping around. You do not want to be stuck in a contract for credit card merchant account services with a merchant account provider that cannot guarantee a certain amount of financial protection. Also, remember to keep a physical address, contact name, e-mail address, phone number and any other information you can f ind on your provider in a file. The more information you have, the better chance you have of recouping losses should the company be operating illegally.