Taking your business online is highly recommended these days, and if your business involves in sales and purchase process then an online version of your business can boost up revenue. If you plan to accept payments online, you’ll certainly need a payment processing gateway. And selecting the right processing solution is not that easy, as lot of things are to be considered before according to your business needs and the available option.
Here are some points you need to consider before go for a payment processing company.
1) Company History And Background
Its all about payments, so better go with a company with good background and loyal customer base. In most of the cases, an old company has a great record and can be trusted for your requirement. Since you can not trust on new companies easily.
2) Rates And Changes
Some companies charges too much for the payment services, While others charge lesser. The Per transaction changes, Interchange fees, monthly fees, Application and setup fees are the types of charges.
Interchange Fees:- These are fee charged for every transaction, as a commission,The paid by the payment processing company to the bank, And the rates depend upon many factors including type of card, type of payment or transaction, and amount of transaction.
Monthly Fees:- Monthly statements fee, minimum fee and monthly gateway fee are changed by the processing company. The monthly gateway fee is actually the service charge.
Application and setup fee:-This is one time fee that needs to be paid before setting up the service and facilities for accepting payments. Then there is an annual fee also, which may be considered an maintainence fee.
Easily Termination Fee:-The companies basically keep a high price as early termination or cancellation charge.
Types Of Payment Supported
you must consider the company with more payment processing options like the online gateway, echecks and digital money, so that you’ll always have options to try a new solution.
You can go for any BBB accredited company like Appstar Finance, that offers a wide range of payment services. A renowned payment service provider of U.S. that started its operation 14 years ago. Appstar is a leader in check services, credit processing ,Debit processing,etc.