Taking credit cards is vital to the success of a
business. Choosing the correct credit card service
provider is a very important decision.
You will want to interview multiple companies before choosing
one. Make sure they can tell you exactly what all the fees
will be before you sign a contract. Some companies charge
a set-up fee to get your account started, and some charge
monthly service fees, separate from any transaction
fees. This can be tricky, so make sure you read everything
and ask the right questions.
Look at all of the charges together to determine which company
has the best deal. Calculate transaction fees based on an
average month's sales. Remember to ask your banker for a
quote as well. It may be simplest to use their equipment
since you already have an account with them.
Once you've figured out who has the best deal, take some time to
research the company's reputation. You want to make sure
they're legitimate and that they will deal with you fairly and
be in business for a long time in the future.
Also, it is important to consider which credit cards you want to
accept. Visa, Mastercard, American Express, and Discover
are the most common cards. You'll also want to ask the
credit card processing company if you can accept ATM or debit
When you're ready to sign a contract with a credit card
processing company, read it carefully and make sure you are
aware of how long the contract is valid, and be aware of any
penalties you may have to pay for terminating the contract
early. If you end up unhappy with the service, it's
important to know what it will cost you to get out of the
As with most things, knowledge is power. Make sure you
know exactly what you are getting for your money, and you will
find a mutually beneficial relationship.