1. Does the merchant provider understand your business? There are more and more ways to process credit cards in today’s world. The choices vary from smartphone apps to computers to POS systems to stand-alone terminals. Your provider should be able to not only process in all ways, but should be able to guide you to the right product.
2. Is the merchant provider secure and can it help you be PCI-compliant? You really don’t want to be one of the merchants who are compromised. Your provider should be compliant and should aid you in learning how to become compliant as well.
3. What are the costs? Get your merchant account reviewed by a potential provider or your current one. Costs change over time and you could be paying too much. A review will help you understand what you’re paying for and why. Most providers will do an analysis for free.
4. Does it offer personal service and support? When your credit cards delay processing, it costs you money. It’s no fun to call 1-800 Good Luck. Find a provider or agent who you can rely on, even in an emergency. A personal touch is invaluable. That qualified agent can also help you with your day-to-day reporting issues or other questions and can also help you pick more efficient and current ways to process credit cards. Look for a 24-hour help desk.
5. Can you change the way you process? Look for a merchant provider that can give you add-on features that cost you little to nothing, such as online reporting and processing. Look for companies that might help you with repetitive billing and credit card expiration updater software so you never get a decline. You also can add a mobile application to your current POS or Web account. Your provider should have that application or know where to find one.
Marty Hinds is a independent agent living and working out of Napa with Paypros, a Bay Area-based merchant provider. Paypros is a technology company providing many solutions in processing. You can reach him at (650) 224-3432, Mhinds@PayProsAgent.com or www.PayProsAgent.com/MartyHinds .
