Support

Believe us when we say there are a lot of options in the payment industry, so it’s just a matter of finding the right fit for you. There are a few questions to ask and things to keep in mind.

• How long have they been in the payment industry and how well-connected are they in various verticals and processing solutions do they offer?
• Do they have a demonstrated track record of success in your specific industry?
• Are they fully compliant with industry data security standards?
• Do they offer an ongoing relationship and customer support that is helpful and easily accessible? 

It is important that in an era, when so much data changes hands in real time, that you trust the solution provider that handles your company’s data.

For the most part it’s easy to get set up and start processing payments. It’s a lot like opening a bank account for your business with similar sorts of underwriting questions, depending on the processor. 

The cost depends on many factors including business type, the specific solution used to process credits cards, and the type of credit card, and the data that’s passed along with the transition. It’s important to find the right fit for processing payments, and not always the cheapest price. 

Payments processing usually includes the ability to process credit cards or debit cards (Visa MC, Amex and Discover primarily) as well as ACH (which allows the customer to use their bank account instead of a credit card), or e-wallets like ApplePay or GooglePay. Broadly, the term “payment processing” is any way you can electronically accept payment from your customer. 

There are many solutions for accepting credit cards, ranging from a POS (Point of Sale) terminal, to a Virtual Terminal that you can access from any computer, so a fully integrated software solution. An experienced payments professional will help you figure out the solution that makes the most sense for your business. 

Usually 1-3 business days is standard depending on card types.

This can vary based on the type of business and requirements needed to set up an account. It’s good to understand what is necessary to qualify for a merchant account up front. 

Having support that is available when you need it is critical to the success of your business. But even more important than the availability of Support (even if it’s 24/7) is whether the Support is helpful and meets expectations. Make sure you understand how much support a processor provides before you sign your processing contract.

We recommend looking for an “early termination” clause in any merchant contract your considering signing.