Should I switch debit & credit card terminal provider?

Small Business Advice 17 June 2010

Well, there is only one way to answer that. You have to look at the provider you are using at the moment and compare them. Credit card processing is as competitive as any other business in the modern world, and it’s important to keep a close eye on your current debit and credit card terminal supplier and their competitors.

Paying too much for your merchant services?

The most important thing is how much you’re paying for your merchant services. It might not seem very high, but once you compare with another supplier you may find out that you can make a significant saving.

Many of the top merchant card processing providers have increased their fees for receiving your debit and credit card payments; no doubt many of you will have seen these increases already. What you must understand is, that it isn’t costing them any more to provide you with the level of service you’ve been getting so far. So there is no other reason to increase your merchant fees apart from the fact that they are trying to increase their profits at your expense.

What you really need is the cheapest debit and credit card processing around, with capped merchant fees so that you will never see an increase in your debit and credit payment processing. This is not too much to ask, and it does exist. If your merchant fees have increased then it’s time to switch.

What about support?

It isn’t all about the money either is it? There are other areas that are just as important. Have you ever been stranded without a credit terminal, unable to accept credit cards and debit cards? This is truly a nightmare.

You need to ensure that your business runs as smoothly as possible and loses as little money as possible when an event like this happens. You need 24hr service and support from your debit and credit card terminal provider, including an instant replacement or repair when something goes wrong. If you are not getting this it’s time to switch.

When you have a technical issue with your card machine, or just an enquiry, how long are you on the telephone waiting to get things going again? For some small business owners, time away from their customers can cost them a small fortune, and what’s worse is that none of this is necessary. No debit and credit payment processing supplier should keep you waiting on the telephone. If they do then they should employ more call centre staff to answer their phones. In today’s business world there is no need to suffer long queues for technical support and other enquiries, and no reason at all to have a call centre outside of the UK.

If you experience any of this when you need to contact your card processing supplier, then it’s time to switch.

Shop around

If you are ready to switch, it’s incredibly important to look around and ask questions based on what you have read so far, before you make a decision about your new merchant service provider. Remember that they need your business, as much as you need their service!


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