Options. You need options when it comes to collecting payments, whether you are an independent healthcare provider or a retailer. Many small businesses do not know what they should look for when choosing a merchant service provider.
Studies reveal that almost half of small business owners don’t even know the amount they pay for credit card processing. This is a shocking reality that also presents an opportunity. Your small business will automatically gain an advantage if you understand what merchant services are all about. There are five features that every small business needs to have in their merchant services.
1. Flexibility
Most merchant service providers have an all-or-nothing approach. You can either sign up for their entire suite of services, or you can’t. What if you have an existing website portal that you love? What if you already have a website portal that you like? It’s not necessary to change your entire operation just to conform to someone else’s structure.
Choose a provider of payment collection that:
- Offers an a la carte menu
- Concentrate on solving problem-specific (online payment, invoice, onsite payment) and
- Once you are comfortable with the platform, you can add additional services.
2. Custom Branding
Small businesses are expected to partner with a merchant services provider for the collection and processing of payments. Customers may worry about security if they don’t see the right branding. This can result in late or missed payments.
Choose a provider of payment collection that:
- You get a custom page for payment with a unique URL
- You can customize forms to meet your specific business needs.
- Create branded invoices on paper or emails to direct your customers to the landing page.
3. Dashboard Detailed
Tracking and visibility are crucial for small businesses when it comes to the collection and processing of payments.
Find a merchant services provider that:
- Provides a dashboard that includes high-level analytics
- You can see who is paying, what they are paying for, and how quickly they pay.
- Included transactional detail for every day.
4. Remote & Touchless Payment Processing
Contactless Payment Collection and the ability to accept payment remotely are more important now than ever.
Choose a provider of payment collection that:
- Payments can be processed without a terminal
- You can process payments securely over the phone and off-site.
- Has experience processing virtual credit cards.
5. Low Fixed Rates & No Long-Term Agreements
Low rates and reasonable contract terms are difficult to find when searching for a merchant services provider. These are also the most important. You don’t need to sign a contract for a service you’re not happy with or pay dozens of charges that vary from bill to bill.
Choose a provider of payment collection that:
- Provides a detailed explanation of all their charges
- You are guaranteed that the fees will not change without notice.
- You don’t have to sign a contract for a long time.
This post was written by a professional by Exzact Business Solutions. TRANSPARENT | AFFORDABLE | SIMPLE Merchant Services, Websites, and Social Media Done Right. https://exzactbusiness.com/ are on a mission to educate local businesses to ensure smiles, savings, and solutions. Exzact clients save an average of 30% on their processing alone. No Contracts, Free Equipment, Local Support, No Rate Increases, and More. Exzact Business Solutions’ goal is to educate the local business community in order to ensure smiles, savings and solutions. Exzact Business Solutions is an Independent Sales Organization with strategic partnerships dedicated to cultivating reliable and trustworthy relationships in the Payment Card Industry, allowing to tailor products and services to the needs of each merchant. Contact EBS and see what a difference having the right advocate can make!
