Whether you’re looking to make a switch or picking one for the first time, choosing a merchant processor is a very important decision and can be vital to the overall success of your business. One of the most important ways to make your business thrive is to please your customers and, many times, that means offering a variety of payment methods.
According to one estimate, businesses forfeit up to 80 percent of consumer impulse buys if they don't accept credit cards. But, before making the switch, or picking one for the first time, business owners need to select their merchant processing service with care. To date, in 2011, BBB has received more than 1,700 complaints against credit card merchant and processing services.
Before selecting a merchant processing service get at least three estimates and check the BBB Business Review® of the merchant processing service. Make sure the merchant processing service has a solid support team. Can you contact them 24 hours a day? This is very important to business owners who are trying to process a card outside of the typical business hours. Make sure that the merchant processing service you choose has a 100 percent money-back guarantee before selecting them. One last tip, if you have a question regarding a fee that you were charged, ask! Staying competitive with other merchant services is the name of the game for theses processors so they will want to keep you happy.