In Client Reviews, Small Business Processing

The decision for your business to accept credit card payments has never been easier. Instead of just a couple of national clearinghouses, now there is an abundance of legitimate and helpful credit card processing companies.

The problem with lots of competition is that some unscrupulous providers will do just about anything to keep your business, including locking you into a long-term contract that benefits only themselves and not you.

When you decide to accept credit card payments, it pays to do your homework. Start by researching fees and what to expect in your community and your industry. Research any prospective provider on the BBB website and other sites such as to make sure that you’re dealing with a reputable company.

Listen carefully, and then read carefully everything that the companies say about their service. Some good questions to ask include: How long does it take for them to deposit the payment in your account?  What happens if a transaction is disputed? Are there different charges for a manual swipe than for a payment taken over the phone? Is there a minimum number of or value of payments required each month? Are the Durbin Act debit card savings passed through to you?

While you’re doing your research, listen carefully to the sales pitch you receive from various companies. Are they pressuring you to sign a contract? Does everything the salesman says match what they put in writing?  Do they require an equipment lease, or do you own your equipment?

The decision to accept credit cards can have significant impact on your bottom line and, usually, it’s a positive one as you can get paid for your services.  Help make sure your experience is positive by doing your research and avoiding companies that want to lock you into a long-term contract.

Recommended Posts