Credit card processing

Credit Card Processing: It Pays to Compare

Whether you have a brick-and-mortar store in Elgin IL or an ecommerce site, chances are good that you need credit card processing services. After all, the more forms of payment you accept, the more sales you'll make. However, not all credit card processing services are created equally. If you don't do your due diligence, you may end up paying sky-high fees or not having the features you need. It pays to do the research in order to find a credit card processing service that's a good fit for your business. Here are some factors to consider:

Monthly Fees: You'll almost always have to pay monthly fees for credit card processing. These typically take the form of a gateway fee and a statement fee, along with a monthly minimum fee.

Transaction Fees: You'll also be charged a fee for each transaction you process. The transaction fees can be a set amount or can be a percentage of the amount charged. There are often differences in fees depending upon whether or not the customer presents an actual credit card (as opposed to an ecommerce transaction); fees are typically lower when the card is present for a transaction.

Payments Forms Accepted: Different credit card processing services allow you to accept various forms of payment. For example, one service may only allow you to accept Visa and MasterCard, while another may also allow you to accept American Express and Discover. Depending on your customer demand, you may want a service that enables you to accept debit cards or electronic checks.

Other Features: Think about what other features you may need. If you have an ecommerce site, for example, you may want certain types of fraud protection, such as SSL and address verification. If you have a brick-and-mortar store in Elgin IL, you may need a point-of-sale credit card swiper. If you have a gourmet food truck and travel throughout northern [statetitle], a mobile card reader might serve you better.

Finding a credit card processing service that meets the needs of your particular business will save you significant amounts of time and money. Moreover, it will create a seamless customer experience that will pave the way for repeat business.