Finding a low cost merchant account provider isn’t as easy as you might think. While there are countless options to choose from, there are many factors to consider before making a decision.
A simple Google search will reveal thousands of payment gateway companies, all vying for a chance to win your business. While the promise of instant approval, free set-up, and other benefits designed to get your attention might be tempting, keep in mind that not all low cost merchant account companies are alike, and not all will protect you or your money at the same caliber as another might. Doing your homework and comparing companies is the best route to go when it comes to your business. Here’s a list of things to watch for when choosing a low cost merchant account provider.
Fees
One of the first things that merchants look for in a payment processing provider is the discount fee, the percentage charged for each transaction. While it’s definitely important that this fee is affordable, it’s by no means the only important factor in choosing a company to work with.
Merchants should also consider whether there are setup costs, flat-fee transaction costs, monthly fees, and gateway fees, all of which will add up. Here’s a helpful chart of several popular payment gateways and how they compare with one another.
Services
Once you’ve looked at costs, you’ll need to consider the services offered along with your low cost merchant account. For example, what currencies are accepted? How many credit card companies do they process? Do they offer customized, personalized services for your business, like analytics software and shopping cart integration onto your website?
Customer Support
Another huge aspect of merchant services is the level of customer support. Find out how available a company is, and speak to a representative to gauge the quality of the support they provide. The idea company will offer excellent customer service agents 24 hours a day, seven days a week.
Security
Perhaps the most important aspect of a low cost merchant account service provider is their dedication to security. Is the company you’re profiling PCI compliant, with the most up-to-date security features and technology available?
Choosing a company that fails to protect its accounts properly could result in devastating consequences for you and your business. Make sure that the company you decide on places an emphasis on keeping your account safe and protected from online threats.
We are the number one choice for merchants around the globe, offering low, affordable rates and 24 hour, seven days a week customer support. All of our merchant’s transactions are protected by Allied Wallet’s PCI Level 1 compliance platform and customized Fraud Scrub technologies. Contact our customer support agents today to find out how you can open an account and start accepting credit card payments in just 12 hours!
