Most of the small business owners can agree that spending revenue on hefty credit card processing fees is stressful. They consider credit card as a necessary evil since the lack of using this can prevent your business from progressing. You don’t have to get stressed out if you learn the secret to getting affordable credit card processing fees.
Start by choosing a merchant service provider as opposed to a bank. This provider gives your business a merchant account which enables you to process different credit cards securely. Not every bank can provide small business owners with merchant services. They mostly work with a third party that processes transactions on their behalf. This means that working a bank can make you incur additional fees.
A merchant service provider, on the other hand, can process the payments without redirecting your clients to a third-party site. It is not only a less expensive option but also more beneficial since you can gain fraud protection. Working with such a provider can help you manage your finances better and improve cash flow in your business. They give you cheap credit card processing services.
You should also consider working with a payment gateway that is PCI compliant. Since this enhances the security of credit transactions, it can save your business a lot of money by minimizing credit card fraud. Choosing such a payment gateway can prevent you from worrying about hefty fines which come as a result of security breaches.
Integrating your payments can also help you lower the fees associated with credit card processing. Instead of processing credit card transactions manually, you need to work with a provider that can process them within your accounting software. With this, it reduces any possible human error and prevents double data entry. When you integrate your payments, you automate the entire process, thus lowering your back-office expenses. It also gives you enough time to concentrate on fulfilling the needs of your customers and attracting new leads to your business.
Aim at getting personized service from a credit card processing provider. As a merchant, time is the most valuable factor, and every minute wasted is costly. Consider choosing a credit card processor from San Antonio that can deliver personalized service. They should help you solve any issues that you may have regarding your services without putting you on hold. Prolonged delays often translate to loss of revenue for businesses.
Try to avoid working with a middle man and choose a credible provider that offers in-house support. You should also choose a flat-rate pricing option as opposed to tiered pricing. As you compare the pricing options that different providers offer, you need to focus on those that provide flat-rate pricing. This assures you a low rate for any credit card that your customers use every month. Choosing this option also helps you see the exact processing fees you pay. The problem with tiered pricing option is that it comes with additional transaction fees.