How to choose a card payments provider

If​ ​you’re​ ​considering​ ​offering​ ​card​ ​payment​ ​facilities​ ​to​ ​your​ ​customers​ ​then​ ​make​ ​sure​ ​you think​ ​about​ ​the​ ​following.

Additional​ ​charges​ ​and​ ​fees

Make​ ​sure​ ​that​ ​you​ ​fully​ ​understand​ ​all​ ​the​ ​ongoing​ ​fees​ ​that​ ​you’ll​ ​encounter.​ ​Some​ ​card payments​ ​providers​ ​charge​ ​set​ ​up,​ ​administration​ ​and​ ​exit​ ​fees.​ ​But​ ​some​ ​also​ ​charge​ ​for additional​ ​services.​ ​Make​ ​sure​ ​you​ ​ask​ ​the​ ​right​ ​questions​ ​to​ ​find​ ​out​ ​what​ ​hidden​ ​charges there​ ​might​ ​be​ ​-​ ​Our​ ​Card​ ​Payments​ ​Checklist​ ​is​ ​a​ ​useful​ ​tool​ ​to​ ​help​ ​you.

Contract​ ​term

Don’t​ ​get​ ​stung​ ​by​ ​long​ ​contract​ ​lengths.​ ​Make​ ​sure​ ​you’re​ ​able​ ​to​​ ​negotiate​ ​a​ ​term​ ​which sits​ ​comfortably​ ​with​ ​you,​ ​and​ ​quiz​ ​whoever​ ​you’re​ ​speaking​ ​to​ ​about​ ​notice​ ​periods.

Standard​ ​charges

Make​ ​sure​ ​that​ ​you​ ​understand​ ​all​ ​the​ ​ongoing​ ​charges​ ​that​ ​you’ll​ ​encounter. What​ ​charges​ ​will​ ​you​ ​have​ ​to​ ​pay​ ​for?

• The​ ​payment​ ​terminal(s)?
• Each​ ​different​ ​type​ ​of​ ​transaction?
• Will​ ​charges​ ​vary​ ​according​ ​to​ ​the​ ​card​ ​type​ ​or​ ​payment​ ​type​ ​used​ ​by​ ​the​ ​customer? If​ ​so,​ ​make​ ​sure​ ​that​ ​you’re​ ​aware​ ​of​ ​the​ ​differing​ ​charges​ ​-​ ​eg:​ ​American​ ​Express​ ​is 
  not​ ​accepted​ ​in​ ​some​ ​stores​ ​due​ ​to​ ​imposing​ ​a​ ​higher​ ​transaction​ ​charge​ ​than Mastercard​ ​or​ ​Visa.

Perks

One​ ​interesting​ ​offer​ ​from​ ​some​ ​providers​ ​is​ ​the​ ​addition​ ​of​ ​perks​ ​that​ ​provide​ ​discounts​ ​or cash​ ​payments​ ​in​ ​exchange​ ​for​ ​in​ ​return​ ​for​ ​referrals​ ​or​ ​commission​ ​when​ ​you​ ​refer​ ​new business. 
It​ ​is​ ​always​ ​worth​ ​checking​ ​this​ ​out,​ ​particularly​ ​if​ ​you​ ​have​ ​a​ ​good​ ​network​ ​of​ ​business acquaintances​ ​who​ ​may​ ​also​ ​be​ ​looking​ ​for​ ​card​ ​payment​ ​services.

What​ ​type​ ​of​ ​transactions​ ​will​ ​it​ ​permit?

Decide​ ​what​ ​payment​ ​services​ ​you​ ​want​ ​to​ ​be​ ​able​ ​to​ ​offer​ ​your​ ​customers​ ​and​ ​choose​ ​the provider​ ​that​ ​most​ ​meets​ ​your​ ​needs​ ​at​ ​an​ ​acceptable​ ​cost.​ ​This​ ​will​ ​include​ ​the​ ​types​ ​of cards​ ​that​ ​terminals​ ​will​ ​accept​ ​-​ ​not​ ​all​ ​terminals​ ​or​ ​providers​ ​accept​ ​all​ ​cards.

Among​ ​the​ ​cards​ ​and​ ​transactions​ ​you​ ​will​ ​need​ ​to​ ​consider​ ​supporting​ ​will​ ​be:

• Contactless
• Chip​ ​and​ ​PIN
• Card machines
• Phone​ ​payment
• Email​ ​payment
• Website​ ​payment

You​ ​also​ ​need​ ​to​ ​find​ ​out​ ​whether​ ​your​ ​card​ ​payments​ ​provider​ ​offers​ ​an​ ​easy​ ​to​ ​contact, reliable​ ​helpline.

Online​ ​review​ ​sites​ ​can​ ​be​ ​a​ ​vital​ ​source​ ​of​ ​information​ ​when​ ​making​ ​your​ ​decision​ ​- remember​ ​the​ ​golden​ ​rule,​ ​eliminate​ ​the​ ​best​ ​and​ ​worst​ ​feedback​ ​and​ ​look​ ​at​ ​the​ ​ratings​ ​in the​ ​middle​ ​for​ ​a​ ​truer​ ​picture.​ ​

Also​ ​look​ ​at​ ​customer​ ​testimonials​ ​on​ ​a​ ​provider’s​ ​website​ ​and their​ ​case​ ​studies​ ​and​ ​speak​ ​to​ ​other​ ​businesses​ ​you​ ​know​ ​to​ ​get​ ​their​ ​opinions​ ​having​ ​used certain​ ​providers.

Interested in taking card payments? At takepayments, we have a selection of card machines available for a variety of different business types. Find out more today.