When seeking out a payment provider, take the time to look at their payment process and their transaction costs. Don’t settle for a mediocre or overpriced payment processing company, because they are likely to disappear into the night without a trace.
Getting the right payment process is essential if you want your customers to be satisfied with the service you provide. In addition, you want to know that you can count on your provider to be there when you need them. Here are some features that all reputable providers should have:
Pay Later payments: These are excellent for those who choose to pay for services in bulk. When paying by pay later, you should also get an option to set up automatic payments for large shipments or to notify you when your customer has shipped their goods.
Buyer Protection: Some providers offer the option of Pay By Contract, where they will pay the final invoice in full after the sale is completed. It’s a great feature to have, as it eliminates the need to worry about your customer’s efforts.
Password Protection: This is another very important aspect of dealing with a merchant. Having the ability to access your customer’s credit card information remotely is a good thing, but if your customer decides to send you money using their Visa, MasterCard, or American Express card then you need to be able to protect that information.
Customer Service: Most merchants will work well with their customers, but some will not. When using a third party, it’s important to know how fast they’ll respond to any questions or concerns that your customers may have.
Management Account (Bill Me Later, Rocket Credit, etc.): You want to see that your client’s funds are safe and secure while you manage their account. Some providers will also let you purchase and sell credit cards and check cashing accounts from their server.
Easy Website Navigation: If you’re using a third-party provider, the last thing you want is to be presented with an unorganized website. Take the time to make sure that everything looks like it belongs in a professional business website.
E-mail Address Can Be Changed: Many websites will require you to change your e-mail address in order to use their site. So if you have your own e-mail address, then you may want to avoid these providers until you are sure you have a list of providers you can use.
Fees: Generally speaking, the providers that charge higher fees are more expensive, and typically do not deliver as good a service. Be sure to ask questions, make sure that they are certified by a legitimate third party, and check their reputation.
Remember, this article is just a quick starting point for you to get started. In order to find the right payment provider for your business, you will need to check out more information.
There are a lot of great ways to get your questions answered. Be sure to spend a little time looking around before choosing the right payment service.