How To Choose a Credit Card Processing Company 2023

Learn how to choose a credit card processing company
Josh Phelps
September 13, 2022

Over 30 million professionals understand how demanding owning a business can be. There are always new challenges to face and problems to solve. And let’s be honest, you never really know what will happen from one day to the next. Here is what you should know about choosing a credit card processing company:

Instead of spending all of your time fixing problems, success starts by setting up winning systems. For instance, the right credit card processing company can help you set up an effective payment gateway. Just make sure you choose the right company to care for all your needs.

Read on to learn about payment processing companies and how to choose the best one.

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What Is a Credit Card Processing Company?

A credit card processing company provides businesses with the ability to accept credit card payments. These companies typically offer a merchant account, which is a special bank account that allows businesses to accept credit card payments. Take note of all the services a company offers before signing up with them.

Payment Gateway Setup

Let’s say that you own an online store. In order to accept credit card payments, you would need to set up a payment gateway, which is a secure way for customers to enter their credit card information when making a purchase. A payment company can provide you with a payment gateway for those customers.

Fraud Services

Fraud protection services are also important for businesses that accept credit card payments. These services help to protect businesses from fraudulent charges. For instance, if a customer’s credit card is stolen and used to make a purchase from your business, you may be protected from having to pay for that charge if you have fraud protection services in place.

Guide to credit card processing

What Payment Processing Companies Don't Do

Credit card payment processing companies do not provide loans or lines of credit. These companies also do not provide credit counseling or debt management services. They also don’t usually offer rewards programs or cash-back programs.

Who Needs One?

Any business that wants to accept credit card payments needs to use a payment processing company. This is true for both online businesses and brick-and-mortar businesses. Even businesses that only accept credit card payments occasionally can benefit from using a payment processing company.

Choose a Winning Company

The last thing you want to do is pick a company just because they have a low price. Instead, it’s up to you to select wisely a team of professionals with your best interest in mind. That’s why there are a few things you should keep in mind when choosing a payment processing company.

Here are a few tips:

Professional Reputation

Make sure the company is professional. This means that they should have a good reputation and provide you with good customer service.

Competitive Rates

Make sure the company offers competitive rates. You don’t want to overpay for card processing services.

Reliable Service

Choose a company that is known for being timely. You don’t want to have to worry about your credit card processing service going down or being unreliable.

Good Customer Service

Make sure the company you choose has good customer service. You should be able to easily get in touch with someone if you have any questions or problems.

Flexible Terms

Look for a company that is flexible and willing to work with you on terms. You should be able to negotiate a contract that works for both of you.

Top Security Features

Make sure the company offers good security features. This is important because you want to protect your business from fraud .

Tips for Learning About a Company's Reputation

One way to verify a company’s reputation is to check with the Better Business Bureau. The BBB will have information on any complaints filed against the company. Their website also has a lot of free resources for business owners that can help you fine-tune your practices.

You can also ask for recommendations from friends and family. If someone you trust has had a good experience with a company, then it is likely that you will too. Referrals are always a safe way to choose a company to work with since you’ll have a first-hand report.

It’s also wise to verify the company’s online presence. Do they have a user-friendly website and active blog?

If the company has an up-to-date online presence, it’s a sign you’re on the right path. Next, you’ll want to verify their customer service abilities.

After all, you deserve quality care and expert help throughout the entire setup. Do they have experience providing payments specifically for credit cards? It’s especially helpful if they’re familiar with setting up payment systems for your industry.

Signs of Good Customer Service

Quality customer service is essential when choosing a credit card processing company. You should always feel heard and valued by the company, and they should always deliver on their promises.

Before committing to a plan, perform a bit of online search. Then contact the company directly and ask them questions. See how long it takes them to respond and how helpful they are.

If they’re not responsive or helpful, that’s another red flag. Once they answer the phone, take your time asking questions. Only move forward when you feel you’ve covered every base, including payment terms.

Protect Your Company From Start to Finish

In short, take some time to research the credit card processing company you’re considering. It could save you a lot of headaches down the road!

Zen Payments is proud to offer clients top-notch services. You’ll never have to guess what your plan includes or how much it costs. Our team of professionals goes above and beyond to ensure you fully understand what you’re purchasing and how it’ll help your company grow.

If you need payment processing services, speak to one of our experts today. Are you ready to feel good about your company’s payment system? Contact us today!

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Zen Payments

Our merchant service specialists are the best in the business and will work with you from start to finish to get your account approved!

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Josh Phelps is an experienced sales professional with eight years of expertise, including four years in payment processing. Throughout his career, Josh has successfully secured approvals for thousands of businesses, demonstrating his skill in navigating and optimizing the payment processing landscape.

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