Switching your payment processing company is quite very easy. Most retailers and eCommerce organizations experience intolerable service expenses with their payment processors and don’t make a move, in dread of having to switch payment processors and that it might be a nightmare of a task. Try not to be intimidated while changing your credit card processor. We’re here to help! iPayToTal will expertly guide you through the procedure.
However, in case you’re not satisfied with the services of your current payment processor, being slapped with high fees, or have been dropped altogether by an aggregate payment processor (like PayPal or Stripe), here are the things you’ll need to get it:
- Do I have my very own terminals or would they say they are leased?
- Does the agreement incorporate a termination fee? If so, how much is it?
- What my contract requires me to cancel?
When you choose one, your new payment processing company will graciously help you in the transition procedure, which will usually not take more than a couple of hours. What’s more, in merely hours, you can be set up and operational so you can proceed with business as usual.
How would you pick the most ideal merchant account payment processing provider for your business?
study the following key points :
References — In order to promote and to build the positive image of the company almost every organization tries to build up a digital ecosystem where reviews and testimonials play a very crucial role so Most of the reviews and testimonials are intended to sell or promote the company products and services. So it is advisable to make a call to a customer of theirs who works a business in your industry, particularly in case you’re a high risk merchant requiring a high risk merchant account. As such, you can get reliable and valuable details on the payment processing company.
Registered – Is your merchant accounts payment processing provider subscribed with Visa and MasterCard? Working with a reputed and trusted partner will assure that you’re safeguarded against fraud and such. Having made a financial commitment during the registration process, selected organizations will doubtlessly take better consideration for you and your business needs with the goal that they too remain in business.
Recommendations — Try not to go asking a bank delegate who the best payment processing organization is. A merchant account payment processing provider on favorable terms will speak to a wide range of banks and additional payment processing alternatives, and as a result of this, they’ll likely recommend the most ideal solutions for your business’ payment processing needs.
Customer Care – Incredible customer care service isn’t only a catchphrase. Ask the merchant account provider if they have a devoted client service staff, and in the event that you will be allocated an Account Manager to supervise and manage your account, which also involves checking the monthly progress of your business. Check whether they have an assortment of payment processing options accessible and if they discuss building long-term associations with their customers.
Reliability – In the current scenario, you must be very careful so as to choose a reliable, upfront credit card processing organization. Ask them how frequently they raise rates and in the event that they bill for extra services or enlist you in automatic free trial offers and after that necessitate that the merchant quits if no longer interested. You’ll need to know whether they bill for charges around the same month that they happened or in the event that they ever “back-bill.” These are only a couple of common and potentially costly tricks that corrupt organizations use.
Rates – Low rates always look great, however, be careful with a deal that appears to be too good to be true. Check with the MasterCard and Visa websites to ensure a rate given by a merchant account provider isn’t lower than what the credit card organizations list. In the event that it will be, it’s reasonable they will adjust for this lower cost with another fee. All rates ought to be specified at the start, checked with your first statement and after that updated each quarter.
- MasterCard Interchange Rates
- Visa Interchange Rates
Ready to Go – Before you switch payment processors, keep an eye out for possible pitfalls. How are returns taken care of that arrive on the old account? Will your new provider enables you to incorporate the gateway with your web-based shopping basket or retail terminals? What happens to your current terminals? If the provider’s team is genuinely experienced, they will prepare a convention and give you a reasonable execution plan that will do the switch a smooth procedure.
Read more on The Difference between Payment Processor, Payment Gateway & Merchant Account by clicking here. If you are looking for a reliable merchant account provider, you are in the right place, as IPAYTOTAL provides the best solutions for e-commerce businesses. We guaranty quick real-time credit card processing, top-notch services and at reasonable rates. Give us a call at +44 800 776 5988 or get in touch with us through our website.