Credit Card Processing Equipment
Each merchant services company has different options when it comes to the equipment available for lease or purchase. For example, some credit card processing equipment options might be POS terminals, swipers, terminals with PIN-pad, or even wireless terminals. Those with online businesses should ensure that their merchant services provider has the eCommerce capabilities that they will need, like a payment gateway or virtual terminal.
Credit Card Processing Security
Credit card processing security is monitored by the Payment Card Industry, which is in charge of the Data Security Standard. These guidelines are in place to make sure that business follow the standards that were created to prevent credit card fraud and security issues. The PCI also ensures that credit card information is kept safe. The PCI is available to assist with any issues that arise between the customer and merchant. Credit card processing security is a major item to consider when evaluating merchant service providers.
Merchant Services Cost
Like any other service worth having, there are fees associated with merchant services credit card processing. When selecting a merchant provider, this is often the most important factor to consider. It may take a little extra time, but be sure to compare prices to make sure you get the best deal available. Normally costs include one statement fee per month, one minimum fee per month, one monthly gateway payment, and a fee per transaction. However, every merchant account provider has a different cost structure, so do the research to find out which option is best for you.
Applying for a Merchant Services Account
The application process is also an important factor in the merchant provider selection process. You will first need to be approved, but also be aware of any fees that you will be expected pay to start your merchant services account. You will also need to evaluate the customer services choices and select the level of support that fits your needs the best.