Credit Card Processing Do’s and Don’ts Part I

Whether you own a retail store, restaurant or even a convenience store, accepting credit cardswill not only make life easier for your customers, it can actually boost your revenue. However, there are a few things to know before choosing a merchant service provider. Here are the do’s and don’ts to consider:
Do’s of Merchant Credit Card Processing
·      Make sure you use an Ethernet terminal if you’re still using broadband internet service. This is a lot quicker and you don’t have to use a landline telephone company.
·      Accept all major credit cards. At one time, it was harder for merchants to accept Amex and Discover along with MasterCard and Visa. This is not the case any longer.
·      Consider using a wireless terminal if you expect to have increased sales in the near future or you have a mobile business.
·      Do give your credit card processing company a call if you’re going to process larger than normal transaction amounts (i.e. $10,000 when your average transaction is $3,000).
·      If you’re a retail store owner, make sure you set up a PINpad and PIN debit.
·      Do your homework. Conduct research about credit card processing so that you have some knowledge of how merchant services work.
Don’ts of Merchant Credit Card Processing
·      Don’t sign up with the first merchant account service you stumble upon. Make sure you take the time out to review at least 3 to 4 other companies before making a final decision.
·      Don’t require customers to make a minimum purchase amount in order to accept credit card payments.
·      Never avoid responding to your chargebacks in a timely fashion.
·      Don’t sign the dotted line before thoroughly reading the contract. It’s important that you understand the fees involved. If you don’t understand the terms within the contract and the provider fails to explain them, avoid that merchant service like the plague.
Well, there you have it – the do’s and don’ts of merchant credit card processing. Once you understand these important points, you’re less likely to run into road blocks in the future.

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The Best Merchant Account

I've spent years researching and writing about different merchant services companies. Did you know that the best credit card processing company for a retail store, may not be the best merchant account for an online ecommerce store? This is why it is important to know everything so you can make an informed decision!
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