If you have already begun doing your research into online credit card processors you have likely already considered into a number of credit card processors.
For those of you that are searching for in-depth online merchant account reviews I highly recommend you check out Best Online Merchant Accounts. Unlike other review websites this site ranks the processors on all the categories that small business owners should concern themselves with. Not only are the rates and fees sold covered, but also the lifetime costs merchant can expect to see (ie any hidden charges). They also compare customer service and the treatment of their customers once you've signed the contract.
If you are looking to do your own research independently then I have some recommendations that you should consider before finalizing your decision. If you are doing your due diligence as a business owner you will want to compare providers on your own as well. Two key areas that you need to consider when reviewing providers are both their pricing and the support they offer. Often business owners are focused on the first section and as a result suffer long term consequences.
Pricing: The credit card processing rates that merchants are charged on their transactions are determined by a multitude of factors. Is the credit card present at the time of the transaction?/Is the credit/debit card a rewards or business card?/What type of goods/services are being provided? - All these factors are directly related to the rates a merchant will be charged. The floor rates are set by Visa and Mastercard, ho however credit card processing companies add additional margins onto those base rates, as a result finding the best merchant account provider can be the difference between paying margins that are far in excess of what you could be paying.
Service: After you've gotten a strong sense of the rates and terms to look for, your next challenge will be to figure out if what you are being told and presented in the sales process will match what you are being sold. While one might think it is that simple, sadly this industry is full of poor contracts, and expensive cancellation fees. However you have the benefit of learning from those business that came before you, the are enough online resources and review sites for you to learn which merchant service providers have a history of misleading their customers during the sales process.
Also, when narrowing down your list of possible solutions, make sure that the provider does not have long term contracts. These contracts can quickly make a mess of your previous fees and rates calculations, skewing your bottom line and leaving you wanting out. Often such contracts include hefty termination fees as well, which force you to eat a loss when you find a better provider.
For those of you that are searching for in-depth online merchant account reviews I highly recommend you check out Best Online Merchant Accounts. Unlike other review websites this site ranks the processors on all the categories that small business owners should concern themselves with. Not only are the rates and fees sold covered, but also the lifetime costs merchant can expect to see (ie any hidden charges). They also compare customer service and the treatment of their customers once you've signed the contract.
If you are looking to do your own research independently then I have some recommendations that you should consider before finalizing your decision. If you are doing your due diligence as a business owner you will want to compare providers on your own as well. Two key areas that you need to consider when reviewing providers are both their pricing and the support they offer. Often business owners are focused on the first section and as a result suffer long term consequences.
Pricing: The credit card processing rates that merchants are charged on their transactions are determined by a multitude of factors. Is the credit card present at the time of the transaction?/Is the credit/debit card a rewards or business card?/What type of goods/services are being provided? - All these factors are directly related to the rates a merchant will be charged. The floor rates are set by Visa and Mastercard, ho however credit card processing companies add additional margins onto those base rates, as a result finding the best merchant account provider can be the difference between paying margins that are far in excess of what you could be paying.
Service: After you've gotten a strong sense of the rates and terms to look for, your next challenge will be to figure out if what you are being told and presented in the sales process will match what you are being sold. While one might think it is that simple, sadly this industry is full of poor contracts, and expensive cancellation fees. However you have the benefit of learning from those business that came before you, the are enough online resources and review sites for you to learn which merchant service providers have a history of misleading their customers during the sales process.
Also, when narrowing down your list of possible solutions, make sure that the provider does not have long term contracts. These contracts can quickly make a mess of your previous fees and rates calculations, skewing your bottom line and leaving you wanting out. Often such contracts include hefty termination fees as well, which force you to eat a loss when you find a better provider.
About the Author:
Finding the Top Online Merchant Accounts is not an easy business decision. By focusing on these main areas of each solution you are reviewing, you can build a great case for making the correct choice for your ecommerce website. In addition individuals who are reviewing Merchant Warehouse should read this review before making a final decision.
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