Imagine it: you are a business owner that has finally started your brand new company. You are learning the ins and outs of how to run a business, and at times, it can be overwhelming. One thing you are sure of, however, is that you need to find a secure way to process credit card payments—it is, after all, the 21st century and over one million credit cards are used in the United States. How does one know how to compare credit card processing providers?
Guess no more with Allied Wallet—we have online credit card processing solutions for our clients. We suggest using Quickpay for smaller businesses and Business Pro for large corporations. However, we are not advising that you take our word for it – you should certainly compare credit card processing providers on your own, so that you have a clear understanding of just what your business needs.
Comparing Credit Card Processing Services
There are several elements to keep in mind when comparing credit card processing services, including, but not limited to: fees and savings, ratings, required monthly fees, transaction fees, fraud protection, and credit cards accepted. All are important elements in helping you come to a decision, and should be taken into consideration. We explore a few of the above mentioned services below:
Approval Ratings
An average approval rating will give you a measure of other merchants who have applied and how quickly they were approved. Other qualifying factors include how quickly a provider will approve your application and the cost of applying.
Secure Transactions
It is a good idea to work with a credit card company that understands how secure your transactions should be. A good sign would be that your credit card processing provider is secured with VeriSign SSL Certificates. Your provider needs to protect you against fraudulent transactions by utilizing address verification services.
Costs
Credit card processing services have monthly and start-up costs, so be sure that you factor that in when comparing credit card processing services. You should also note the calculations for monthly costs for approximately 500 transactions (or however many transactions you think that your company will complete within a month) with one charge-back fee (this happens when you have to return funds to a customer or client) a gateway fee (must be paid to use the online gateway system), and finally, one statement fee (an applied charge for delivering your monthly statement). You must take all of these costs into consideration before even signing up for a service provider, otherwise you run the risk of overspending. A good credit card processing service will publicly disclose their fees and service charges.
Selecting the Right Provider
No matter what you decide, Allied Wallet can help guide you on your way towards selecting the best service provider for your company. We have the insight, knowledge, and years of experience that come with knowing how to be the best in the business for our clients. Call or visit our website today to find out how we can aid in helping you discover your best service.
