Operating a successful business means having the ability to process customer transactions. Even if you are a small home based business that does very few transactions a month, if you limit your business to cash or check only customers, you are losing a large amount of potential profit.
Having the ability to process credit card transactions allows plastic-carrying customers to make their purchases at your business – leaving your customers satisfied, as well as your bottom line.
Credit card processing is a competitive business. If you ever find yourself overwhelmed while trying to decide if you should invest in a new credit card system, consider the following four factors.
1.   Fees – there are many fees that will be charged with credit card processing, including termination fees, maintenance fees and start-up fees. Pay close attention to the fees and remember that some fees can be negotiated. Do your research and arm yourself with comparable rates from other providers before negotiating.
2.   Hardware – pay attention the hardware required by each processing service. You want to make sure you choose a system that allows for in-house and online purchases – this makes it possible for you to utilize the internet for profits. And with mobile technology quickly coming on board, ask your merchant services provider for options. You may find something perfect for your business that you didn’t know existed.
3.   Security – the security of your credit card processing system must be reliable. Customers expect their information to be protected and it is your responsibility to choose a system that has a high level of security. Industry standards must be met by your provider, so do not be afraid to ask questions about their processing security system.
4.   Service – pay attention to the level of service offered by each provider. Determine what type of service your particular business needs and find the provider that can meet all of your needs. For instance, if you accept phone orders, your credit card processing provider must be able to handle phone transactions. Providers offer different forms of accepted payment methods, so ask questions and do your research before making your final decision.