The internet allows small businesses to do big things. You can use the web to compete head-to-head with larger entities (and win). And now, you can accept more than just cash and checks -- you can process credit card payments.
Today, there are various forms of credit card processing for small business. So if you're new to the game, you may be wondering which method to choose.
Sound about right?
Then you'll find this short guide super helpful. Let's take a look at the best tips for choosing the best credit card processing for small business owners.
The idea of being a business owner (a.k.a. your own boss) is to be free. So why would you opt for a credit card processing for small business that's restrictive?
And by this, we mean a payment gateway that forces users to meet certain monthly quotas.
Then others don't want you to process too many transactions based on your plan. In this case, you'll have to upgrade and pay more monthly.
Don't do this to yourself or your business -- go to a payment processor that allows you to process an unlimited amount of transactions monthly.
Reducing all unnecessary costs is vital to the future success of your business finances. This is why you should avoid using payment gateways that require you to adopt credit card equipment.
Credit card readers and mobile phone dongles are outdated methods, especially with the growing popularity of eWallets. Consumers today expect to pay for goods and services using their mobile devices.
Not only is this convenient, but it's also more secure. People love the idea of being able to make purchases without using their credit card.
contactless payment offers virtual credit card processing for small business.
In the past, you didn't have the choice of accepting credit card payments online. Businesses were stuck with using card readers to accept payments in person.
But not anymore.
Today, you can process credit card payments online and offline using just your mobile device. All you need is the GoSite payment tool, which is designed specifically for credit card processing for small business.
We come back to the concept of eliminating unnecessary costs for operating your business. And as you'd imagine, there are all sorts of hidden fees associated with many payment gateways.
So on that note, you'll have to do your due diligence to ensure you're not being duped. In most scenarios, you're charged for things like:
Read the fine print of your agreement before you make a final decision and shop around for the best rates.
Speaking of agreements...
You find a payment processor you like (or so you think). So you sign up, only to learn it has hidden fees and other pet peeves you weren't privy to. You try to back out, but learn you're stuck in a 5-year contract.
This is why it's critical to have a flexible contract with a payment processor. You'll be able to stay as long as you like or leave early if the need calls for it. Plus, you want to be able to scale up and down as your business needs change.
When you choose the right credit card processing for small business, you'll get all the benefits without the shackles. For instance, you can process as many payments as you need, which means ultimate scalability for your business.
All without the unnecessary fees and constraints. The last thing you want is to be locked into a long-term deal with a payment processor you abhor.
The web allows consumers to make payments without swiping their card. But it also allows them to secure their credit card details from visibility.
With eWallets, customers can pay with a username and password instead of their credit card number and expiration date. It's faster, easier, and safer.
If the payment processor you choose doesn't accept eWallet payments, then this could hurt your revenue. Find a credit card processing for small business that accepts online payments in all of its forms:
The more payment types you accept, the more customers you'll be able to attract and accommodate.
Operating a local business means making a lot of tough decisions. However, deciding on your credit card processor shouldn't be one of them.
Once you understand what to look for, you'll find it easier to make the right selection. At the end of the day, you want a payment gateway that's flexible, robust, and affordable.
You can get all of that when you sign up for free with GoSite's payment tool.
But before you do, check out our free fact sheet on how payment processing works!