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How To Get The Best Credit Card Processing Program For A New Business

There are many options to consider when looking for a credit card processing program for a new business.  For many business owners, the sheer amount of merchant account providers available and all the different options can be overwhelming.  In this article, we’ll help you navigate through some of the most common issues you’ll face as you think about acquiring the best credit processing merchant account program possible for your new business.


How Much Will My Credit Card Machine Program Cost?

If you end up with a merchant account provider who is not upfront about fees or
other important contract-related monetary considerations, run, very, very, far away!  Take a careful look at the full rate and fee schedule.  You may find the lowest rates available with a super-low percentage rate on transactions, but then get slammed with exorbitant fees in other areas.  Always exercise due diligence when evaluating these programs, especially when taking a look at free merchant account programs.  There is usually no such thing as a “free lunch,” so be careful.  There is always a catch!


Does The Merchant Account Provider Provide Good Support?

No matter what merchant account provider you choose, make sure you choose a company with a proven track record of top-of-the-line customer support.  Good customer support representatives should be available online or over the phone, and they should operate in a consultative manner so as to establish the best program possible to meet your business needs.  Great customer support representatives go the extra mile by proactively making sure you’re doing well and are pleased with your products and services.


Buy Your Own Merchant Account Terminal- It saves you money in the long

The best credit card machine programs should recommend that you purchase your own account terminal.  If they do not, they’re likely trying to force you to pay more than you should be paying.  Most merchant account users process many charges over the long term, so paying high monthly fees, or a higher than normal rate just doesn’t make any sense.  Owning your own terminal also enables you to depreciate the cost of your terminal, so talk to a qualified accountant about all the potential tax savings possible by owning your own equipment.


Flexible Merchant Account Guidelines

When looking for a merchant account, make sure to pick a provider with flexible guidelines.  The best credit card machine providers allow for both swipe and keyed service programs, because certain customers need to swipe and enter debit information, and other customers may be phoning in orders, or processing orders via the web.  Good providers also have plans for those with poor credit and those who on average have very large or very small ticket sizes.  Speed is also key, as the best providers get their customers’ merchant accounts up within 48 hours.


Pick an Economical Rate Plan

In order to pay the lowest fees when processing credit cards, a merchant’s goal is to pay as close to interchange as possible.  A merchant account that uses an Interchange Pass Through pricing method applies processing fees by adding a small percentage to the actual Interchange Rate for every transaction and all dues and assessments are passed through directly at cost. This ensures that you only pay the true interchange rate in addition to a small mark-up that goes to their merchant service provider.  Make sure that the merchant provider you choose does not have hidden fees or hidden mark-ups.  Also look for companies that have not raised their rates in over 10-15 years.  This tells you that over time that merchant account company has been successful while looking out for the best interests of their customers.


While picking a credit card processing plan for a new business may seem like a daunting task, just a little research and due diligence can go a long way in helping you find the right plan for you.  With the tips we’ve given you here, you already have a great head start in choosing the perfect merchant account service!


Resource Box: provides leading edge credit card machine and business management solutions to merchants through a consultative approach by educating merchants on credit card interchange fees and practices to ensure they are receiving the best possible rates when accepting electronic payments. delivers expertly consulted merchant account services with a focus on increasing merchant bottom-line profits.