A competitive credit card processor can save thousands of business. While it may be convenient to let your bank handle the processing credit cards, you may be able to save more using another provider. However, fees shouldn’t be the only factor taken into consideration while selecting a credit card processor, since terms are often open to negotiation.
Credit card processors have used “teaser rates” for years to help entice new customers to sign a contract using their credit card processing service. Teaser rates are advertised by processors as the cost to merchants for accepting card payments – but they generally don’t reflect the full picture of fees a merchant can expect to pay – or may only apply to a specific type of transaction.
In this day and age it is nearly impossible for any company to conduct business without credit card processors. Whether you run an online venture or are an established retail company, the acceptance of credit cards is critical to the success of your business.