2015 CREDIT CARD PROCESSING COMPANIES
Merchant Account Providers
Top "hidden" factors to consider when choosing a merchant account provider:
1. YOUR INTERACTION WITH THE SALES REPRESENTATIVE.
Believe it or not, your sales representative or consultant will determine how hard or easy your life will be when it comes to solving any issue you may encounter with your merchant account. Be mindful of their responsiveness during your application process and above all, only go forward if you feel they are competent and actually care about your business. If you sense any apathy or lack of interest or patience during your conversations, these are "red flags" and should alert you of future problems.
2. HOW DO OTHER REVIEW SITES RANK YOUR PROVIDER?
There are numerous web sites that purport to give unbiased reviews of merchant account providers. However, a number of these sites only give negative reviews and are in operation to solely generate money and not to protect the consumer. Some of these sites make their living by receiving compensation for removal of the reviews. This is at odds with a purely informational review site that seeks to education business owners. Look at review sites that focus on the positive aspects of merchant account providers and the different services offered by each particular provider.
3. HOW MANY ACCOUNTS DOES YOUR PROVIDER SET UP EACH YEAR?
Bigger is not always better, but in the merchant account industry you need a provider who is not a "fly by night" operator. Your Merchant Account Provider must be able to not only fund your business for the transactions processed in a prompt manner, but it must also be able to support any issues that may come up, whether they are technical in nature or service related.