Contact Sales (855) 615-7481

Get FREE Quote

Mistakes That Merchants Make When Choosing a Credit Card Processor

Every business can benefit from being able to accept credit cards as people these days use them to make many of their transactions. However, choosing the right credit card processor is not exactly as easy as it sounds, and many merchants end up making costly mistakes by going with the wrong company. The following are pitfalls that people should avoid when they are deciding on a merchant account for their business.

Choosing Based on Price

Business owners are constantly trying to reduce their costs as much as they can while still getting the same quality of service. Unfortunately, the lowest prices for processing credit card payments are generally offered by smaller, less established companies. While this may seem to be fine, it pays off in the end to go with a credit card processor that has an established reputation as newer or smaller companies may not have the capabilities to keep customer information safe. This can be a very serious issue, and it may even end up with merchants being held at fault if customer data is stolen.

In addition, less established companies are much more likely to charge hidden fees, and this can make a huge difference in the amount that merchants pay every month. Going with a company that has a good reputation and has been in the field for many years will also allow people to check reviews and see what others have to say about them before signing up for service.

Not Getting the Right Features

Many people make the mistake of assuming that certain features will be included in their credit card processing agreement by default. In reality, this is often not the case, and merchants may end up having to pay extra in order to get the type of functionality that they need. Business owners should think about whether they will need to process online or mobile payments or store customer data so that they can make recurring purchases without having to give the company their information multiple times. It is always best to ask a credit card processor about this before a person signs up for one of their merchant accounts.

Not Asking About Cancellation Policies

Many of the less scrupulous credit card processors will charge exorbitant fees to cancel an account. Business owners should always be sure to ask about a company’s cancellation policies to avoid being hit with a large bill when they decide that the service is not for them.


Type Of Account


What Exactly is a Contactless Payment?

The modern credit card industry and credit card processing began in the 1950s, and the first credit cards...

How Smart Chips Will Make Electronic Transactions More Secure

For the typical business person who runs across fraudulent transactions involving credit cards, credit card processing with smart...

What To Do With All of Your Company’s Receipts

As the electronic age has started to take over more businesses, much of the information that used to...

© 2015 All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA
American Express® may require separate approval.

*Promotion contingent upon's receipt of written competing offer(s). Further terms and conditions may apply.

**Certain restrictions may apply. Promotional offers brought to you by Call (855) 615-7481 for details.