Five things you need to know before choosing a merchant services provider
Running a retail-based business is no easy task. In order to be successful in this line of work, you will have to get all of your ducks in a row before opening your business. Choosing the right retail space, hiring the right employees and selecting a merchant services provider are all important tasks you need to focus on. When trying to take payments from customers, you need to have credit machines to make this process easier on everyone involved. The right merchant services provider will have no problem providing this equipment for you. Before selecting a particular merchant services provider, be sure to consider the following factors.
1. Do They Offer Customer Support Services?
When dealing with any type of electronic payment system, there is bound to be problems along the way. Instead of having to figure out these problems on your own, you will need to choose a merchant services provider that offers around the clock customer support. The last thing you want is to have your credit card machines down during business hours due to the sales it may cause you to miss. With the right merchant services provider, you will be able to figure out what problems are prohibiting your payment system from working and what needs to be done to fix them.
2. How Much Experience Do They Have?
Finding out how much experience a particular merchant services provider has is also important. Ideally, you want to choose a provider who has been in the business for a number of years. Assessing the type of reputation a merchant services provider is important before deciding to use them.
Usually, you will be able to find a lot of information about a particular company by looking for online reviews. These reviews will give you an idea regarding how well a merchant services provider has performed for other businesses in the past. Once you have this type of information, you should have no problem making an educated decision regarding which provider to select.
3. What Devices Do They Support?
If you are like most modern business owners, you will be using a variety of different devices to take payments from customers. If you are doing a trunk show or have set up a booth at a local flea market, being able to accept mobile payments from customers is a must. You want to make sure that the merchant services provider you have chosen offers variety when it comes to the type of devices that can be used to make these payments.
Being restricted to the type of payments you can take may lead to a variety of problems. You want to make sure you never have to turn away a customer due to the fact that you can’t accept the type of payment they are offering. This is only possible when selecting the best merchant services provider in your area.
4. Do They Offer Fraud Protection Services?
Protecting the sensitive payment information your customers provide you should be something you are passionate about. In the technologically advanced world of today, hackers are getting smarter when it comes to infiltrating credit card machines. Choosing a merchant services provider that offers fraud protection services is essential. This will give you the peace of mind knowing that if a customer’s payment information is compromised, they will be protected.
5. The Length of the Contract
Finding out about the details of the contract a merchant services provider has is also important. Assessing how long the contract is and whether or not there is a fee for early cancellation is essential before making a decision regarding whether to use a certain provider. If there are things you are not comfortable with in the contract, speak with the provider to see if they can alter it to fit your needs.
Selecting the right merchant services provider is something you need to view as a priority. Contact the team at Dharma Merchant Services to find out about what they can offer.