Do you want your business to accept credit card? If yes, then you absolutely need to get a merchant account service. The problem is, hundreds of processors are already in the market. Some are good – others, not so much. It is a very daunting task indeed. So how do you compare services and cost, assuming that you are new to the credit card processing game?


When it comes to choosing the right processor and the services you require, you need to understand what YOUR business needs in the first place. Some services may simply require standard requirements, while others  need added elements like credit card storage and recurring billing. If this is the issue, then you may want to get a bundled service instead of mingling varied providers to combine everything together. You also need to ask how much time will it take for the service to work so you can start having money deposited to your account.


This is important. You need to know if the merchant service processor will handle your credit account transactions themselves or if they will outsource the work to a third party. Banks always outsource services. The disadvantage to outsource service is the hassle that comes when you have to go through the middleman to settle complications should any arise.


Don’t be afraid to ASK QUESTIONS. More often than not, clients tend to just accept the quote of a service without really digging into the fine print of the offering. Doing this can open you up to unwarranted charges and other hidden fees. When evaluating, make sure to inquire about programming fees, installation fees, and/or a yearly fee. See if you will sign a lease or contract, and if there are cancellation fees.

Other providers place a cap on the number of credit card transactions that you will be able to accept monthly. Make sure that this limit is reasonable for the type of business you operate. Make a background check about the company and ask the number of customers they have already served. Read their testimonial page and the credentials of their people.

Merchant service providers are a significant portion of your business as they bridge the financial gap between you and your customers. Choosing the wrong merchant service provider can destroy that bridge, causing your business to lose customers and ultimately – sales.

Use these simple steps to help you make the right decision to meet your business needs.