Do you like your eCommerce payment processor? If your payment system is on autopilot. You may not even have a yes or no to that question. If you are looking for a moment of introspection in relation to your eCommerce solution, as well as your credit card processing for your small business, this article is a good place to start. Here are a number of red flags that can open you up to the possibility of switching.
One such red flag is hidden fees. Ask yourself: am I paying more or less what I expected to pay when I signed up? This may not be as straight-forward a question as it appears to be. Sometimes a given payment processor makes sense and fits well when your company is at a certain processing volume; as you grow, it’s important to ensure that you aren’t incurring any sneaky fees that can take the wind out of your sails.
Wouldn’t it be nice if, when the customer clicked the checkout button on your website, the funds instantly materialized in your account? Unfortunately, most payment processing, depending on the type, necessitates some kind of latency as you wait for funding. Does your processor offer next-day funding? Depending on your business and your cash flow needs, you may be putting your business at a distinct disadvantage if you have to wait 3 to 5 days for your money to appear.
Going with a payment processor shouldn’t be like driving a used car off the lot. Practically anyone who uses a payment processor will have questions—especially when it comes to making your website’s checkout process seamless. Having to chase down a customer representative is the last thing you want as a small business owner. Not getting the help you require in a timely fashion is a big red flag.
In today’s payment landscape, consumers are more cautious than ever about risks to their data. In the same vein, a growing number of consumers are growing wise to the risk, and will not use a website that doesn’t display some kind of trust mark that shows their payment processing can be trusted. With this in mind, it’s important to ensure that your payment processor does the basics right. Moolah is powered by Authorize.Net, which is one of the most trusted names in Credit card processing for small business. When you sign up for a dedicated merchant account with Moolah, you benefit from all that Authorize.Net has come to stand for, not least, the ability to display the Authorize.Net seal on your website.
Keeping these things in mind will ensure that you continue to have a beneficial relationship with your processor, and your website continues to stay attractive to your customers.