Things to Consider When Choosing a Credit Card Merchant Processing Service

Credit card merchant processing services provide a necessary component for many businesses: the ability to take credit card payments from their customers. This is not only good for a merchant’s bottom line, but it also gives their patrons the convenience of paying for their purchases in the manner that suits them the best. In this post, we will discuss some things a merchant should consider when choosing a company to handle their credit card merchant processing services


The costs of accepting credit cards can vary from provider to provider, and it is vital that you read all the fine print associated with your contract, as most fee structures will be multi-faceted. Typically, you can expect to be assessed an intercharge fee of 2 to 3 percent of every transaction, and the specific percentage will depend on the type of card used, the size of the purchase, and whether it was done online or in person.

You can expect to be billed around $10 as a monthly fee for processing your statement, and you will likely also be billed when initially submitting your application to a company that provides credit card merchant processing services. You may be assessed a minimum monthly amount, and you may be asked to pay a service charge for the payment gateway. Many credit card merchant processing services will bill you for terminating your contract early, and you will want a full explanation of all possible fees upfront so you can adequately plan your business budget. 

Customer Service Support

Customer service is going to be a vital aspect of your success as a merchant who accepts credit cards. To keep things running smoothly, your merchant processing service will need to be available during your hours of operation, as you can run into numerous issues when using credit card machines. You will also want to make sure that they can offer you technical assistance over the phone, so you can fix any problems as they arise. 

Accepted Forms of Payment

It is crucial that your payment processing service can assist you in taking all major credit card types, including debit cards, and depending on your type of establishment, you may also want to accept EBT payments, gift cards, and prepaid cards. Many customers may also desire to pay with NFC, or near field communication, technology by using Apple Pay, Android Pay, or Samsung Pay to make purchases. These apps allow the user to place their smartphone within four inches of the reader, prompting them to pay with just a few taps to their screen. NFC is growing in popularity, as it is considered to be a highly secure payment method. 


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