Let’s face it: credit cards are a necessity. That means that if you are a small business, you need to be able to accept them. But that also means that you will need to work with a credit card or payment processor. The question is: How do you choose one? We’ve put together some considerations to make when choosing a payment processor, all of which can help you separate the best credit card processing company for a small business from the rest.
Support isn’t always easy to find with your credit card processing company. Many companies will treat you well upfront, but simply don’t staff the adequate number of people for hands-on attention; some companies don’t even have internal support teams. When looking for a credit card processing company, look for someone who can help you with your needs. Look for someone who provides support at the level that small businesses need. Ask what kind of support a company provides. Find someone who will be able to provide support when you need it.
Some credit card processing companies offer you the option of leasing equipment. But over the long run, leasing equipment can cost you more than buying it, even if it is pitched as having lower up-front costs. Be prepared if companies try to make it sound like leasing equipment is in your best interest.
When considering a payment processor, it is important to find one with competitive rates. Better yet to find one that doesn’t have any hidden fees. But that alone is not enough. It is important to know how often they raise rates. The average credit card processing company will raise rates every few years. This is natural and is often necessary to manage the costs of inflation and changes in technology. But some companies will change rates more frequently. Find a company with a good track record. Look for someone who won’t change rates on you out of the blue. And find someone whose rates are manageable and will fit within your needs.
Security is ever-important when it comes to payment processing. It is especially important with increases in fraud. That’s why it’s important to find a credit card processing company that takes security seriously. How do they deal with PCI compliance? Do they offer fraud protection? These are questions to ask when looking for a payment processor. Look for a processor that offers fraud protection, and helps you stay PCI compliant.
At Moolah, we pride ourselves on our payment processing. We provide incredible support to our clients. We don’t require clients to rent equipment. In fact, we provide the Poynt Smart Terminal to our customers free of charge. We have reasonable flat rate fees without any hidden charges. We also take security seriously. We even offer the DataGuardian PCI compliance suite to all our account holders, along with fraud protection that will protect you from breaches up to $100,000. All of these reasons contribute to why we are the best credit card processing company for small businesses. If you want to find a payment processor you can count on, look to Moolah.