Carefully consider your choices
Here are the top four must-have qualities to look for in a payment processor:
Your payments software and your checkout process should integrate. That’s to say, the device, terminal or POS system you use should reflect how your business operates, as well as the types of payments you want to accept and the back-end systems that you want your payments to connect to. The more integration available the better. You want your payments to work in the interests of your business and your customers.
Most businesses want to grow. Your payment processing system should be an agent in that growth, not an inhibitor. As you grow, your payment processing—the equipment and the provider—should expand with you. Even the smallest business can reach great heights with a point-of-sale solution that grows with the business— without the expense and hassle of time-consuming, costly upgrades and infrastructure changes.
A payment processor is only as good as their customer support. If you can’t resolve problems quickly, you may miss out on sales. Your provider should not only be on point when it comes to reliability and up-time, but quality customer and technical support should be available at the other end of a phone, an email or live chat whenever you need help. Day or night, 24/7, including weekends and holidays.
Credit card data security protection and fraud detection and prevention must be a top consideration for your payments provider and their solutions. From chip card acceptance at the point of sale, to advanced fraud detection and card data security tools such as encryption and tokenization—take a hard look at how your payment processor is securing your business and your customers.
Read more of the resources and companion stories in the sidebar as you consider and evaluate your payment processing options and possible providers.