One surefire way to keep your customers engaged is to ensure global branding. With an online credit card processor, you can now accept all forms of payment around the world at any time.
However, choosing the best online credit card processing service may seem a bit daunting with the number of options available in the market. We look at 5 key points that you should consider in order to make them work.
1) Fixed fee
Learn about all costs by reading your contract in a meaningful way. The general fixed costs are as follows:
- Start spending
- Gateway fees
- Statement Fee
- Monthly minimum fee
- Cost of software
Please note that the market is very competitive, some offer online credit card processing service providers top or some for free. Be sure to compare multiple service providers before reaching your decision.
It should also be noted that some providers may charge hidden costs that may be included in the discussion. Read your contract carefully before making a final decision.
2) Transaction fees and discount rates
These charges apply to every credit card payment that you accept. It is important that you choose a service provider that enables you to maximize your profits.
The choice you make must be appropriate for your business and transactions. Suppose your transaction fee is $ 0.25, your discount rate is 3%, and if your sale is $ 100, you would make $ 96.75 from this sale and pay your supplier $ 3.25.
If your transaction fee and discount rate is the same, when your sale is $ 1000, then you would make $ 969.75 and pay your supplier $ 30.25.
Let us know that you purchased more and more stores and found a better deal with a $ 0.20 transaction fee and a discount rate of 2.25%.
You will then effectively make $ 977.30 and pay $ 22.70 for your $ 1000 sale to your provider. However, if your average sale is only $ 100, the lower charges will only cost you $ 2.45.
Since your average sales size is small, the difference in charges may not make much difference to you. When making the final decision, you should pay more attention to the monthly fixed costs.
As you can see, depending on your volume and size of sale, a small difference in charges may not translate into big differences in your profits and costs. Find the best deal that meets your business needs.
Credit card numbers are stolen every day. To protect your customers as well as your business, make sure your online credit card processing service provider is safe and secure.
You may receive a Scan Alert. It is provided to providers who are considered to be safe from hacking and to comply with the rules set by major credit card companies in the world to protect their clients’ credit card information.
You may want to refer to www.scanalert.com for more information. Find customer feedback on the security features offered by service providers that will help protect you and your customers.
4) Customer Support
As a merchant accepting online credit cards, you are bound to run into problems. When needed, it’s important that you get immediate, effective help 24/7. Receive quotes from service provider sermon users to make sure you get the best personalized help.
Once you’ve improved the customer service’s most important rates, security and quality and limited your choice, you can now focus on the concern provided by the service provider.
As the online credit card processing service is extremely competitive, more and more service providers are ready to jump into free resources such as your company’s free advertising in popular search engines. Get one that gives you value for money.
Most Americans have at least one credit card. And ten out of ten who do, don’t know, an amazing 34% credit card interest rate. Getting a credit card is very easy. But it is very difficult to fully refund your bills. Month after month our expenses are increasing month by month.