Choosing the Best Payment Processing Company for Your Business
SET YOUR CRITERIA
First and foremost, have a look at your business and figure out exactly what your payment needs and requirements are. It’s always best to know what you want before you go searching for it. Make a list of important criteria then begin your quest.
DO YOUR DUE DILIGENCE
The internet is full of helpful material on the multitudes of payment processing companies out there. Do your research on each and consider those that have the lowest fees, the best reviews and highest customer endorsements. Security, safety, longevity, maintenance and processing ease are also important factors to keep in mind.
DO THEY MEET YOUR SPECIFIC NEEDS
Needless to say, this is one of the most important aspects to study; does the service meet your specific needs with solutions that add value to your business. Think of your clients and the experience they have when making purchases from your site; is it user friendly and easy to navigate, or will you lose them in the process.
Most payment processing companies will have a variety of membership options to choose from, ranging from the basic free plan, to more comprehensive packages that require monthly or yearly payment. Here, it’s best to look at your budget in relation to the amount of transactions your business will conduct. As a trial, start with the basic plan and see how it goes. You can easily upgrade at any time if your budget and transaction frequency increase.
Before making a final decision, consider these technical aspects as well: access form any PC or mobile device, pay button integration on your site, payment/invoicing and billing options, acceptance of all credit and debit cards, US or CAD currency, and also direct deposits to your bank account.
We hope this advice helps you find a payment processing company that’s perfect for you and your business. If you get stuck or hit a wall, please feel free to contact us; we’re always here to help. Here’s to your success!