(Newswire.net — November 6, 2015) — Small businesses today are more dependent on card payment solutions providers than ever before, as customers continue to look for the easiest ways to pay for services they are interested in. This means running a small business today without a reputable card payment solutions provider puts your business on the back foot when it comes to getting and keeping customers. To avoid being at a disadvantage, therefore, you need to ensure your small business is in partnership with one of the very best card payment solutions providers. Newswire spoke with Dharma Merchant Services who have a transparent FAQ about payment processing and are hugely ethical with the way they do business. We asked them how you can ensure you are working with a solid provider.
Adequate Customer Support
Payment processing is the back bone of all businesses therefore you need to work with a company that can address concerns quickly. While some providers offer round the clock phone support, others offer only email responses. Some others work with a 24 hour delay. It is important for you to look for robust and responsive customer service promises. Issues with your payment system should be addressed within the hour or your business could suffer hugely.
Cost
This is undoubtedly one of the most important things you need to look at. When discussing costs, there are several angles to look at. Firstly, there is the start-up cost which takes care of setting up the merchant account and the processing engine configured on your website or at your shops. Secondly, there are interchange pricing and card fees; and thirdly, there is the service charge from the solutions provider. You need to pay particular attention to the first and third costs. Your service provider can charge unfixed per-transaction charges, they can charge monthly transactions based on a minimum or maximum number of transactions, or a fixed monthly payment plan regardless of number of transactions completed. Your choice should depend on your projected number of transactions per month.
Digital Security
All around the world, there are stories of credit card information and POS information theft. You cannot risk working with a provider that does not guarantee adequate security. Data encryption is a minimum. Therefore, you need to watch out for additional features like support for CVV2 verification and transaction billing address verification. Support for VeriSign SSL certificates is also important.
Inclusive debit card and PayPal processing
Today, more people are moving away from credit cards and their attendant high interest rates, in favour of debit cards. The major reason behind this is our increasing consciousness of debt and living within our means. Business owners therefore need to be able to support this shift as management of debit card transactions is very different from management of credit card transactions. In the same vein, PayPal offers customers security and the ability to shop within a pre-set limit. This is why it is a major plus to have it for people completing transactions. Your chosen card payment cart should be able to integrate with Paypal.
Site Testing Ability
Setting up your payment system is a costly process. It is important to be sure it works before it goes live to the public. Customers lost at point of checkout may never return. The best providers allow the running of a series of test transactions through the setup without any monetary involvement. The tests permit mock shopping scenarios and should allow both parties to detect any problems in the process, and address them quickly.
With these tips you will be able to choose the best card payment solutions provider for your small business. Getting it right is crucial to your brand’s reputation!