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The Best Credit Card Processing For Small Business Owners

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The Best Credit Card Processing For Small Business Owners

By Marco Carbajo, Guest Blogger
Published: September 10, 2013

Are you looking to accept credit cards from your customers? Is building your company's creditworthiness essential to you? In this article, I'm going to share with you how to determine which merchant for credit card processing would be best for your small business.

Let's face it, there's no lack of merchant suppliers both online and offline providing a whole set of amazing tools for simple credit card processing such as virtual terminals, mobile credit card readers, credit card equipment and so on.

The bottom line when it comes to credit card processing: more attention should be paid to fees rather than the bells and whistles.

Instead, in today’s fast-paced world, more attention is paid to speed and easy setup when it comes to accepting credit cards as a small business. However, the important thing to realize is that going with “fast and easy” is not always the best and most cost effective.

Simplicity is expensive, so before you decide to use a turnkey payment processing company and pay costs from 2.9% +.30 per transaction, take some time and research ways to receive much lower fees for credit card processing.

The fact is that if you are a small business and you wish to get cash from clients by means of credit cards, then you need a merchant account. A merchant account is what you utilize to accept credit cards, get cash and make money as a business.

Typical merchant account companies can charge up to 5% of everything a company earns with prices consisting of merchant processing costs, gateway fees, interchange costs, Visa, MasterCard, American Express charges, statement fees and so on.

In time these expenses could add up to a great deal of money; that's money your business is not taking in. Every penny being paid is cash your business is not making.

What if you could reduce your existing credit card processing fees 25%—50%?

While regular rates go from.41% to 2.19%, some merchants specializing in small business have processing fees ranging from 0% to.36%.

In addition, why not choose a merchant provider that reports your company's repayment history to a major business-credit reporting agency?

Having a merchant provider that provides low credit card processing fees while enabling your business to establishing its own creditworthiness is an ideal solution for a small business owner. When searching for the best merchant to supply credit card processing for small business consider these two main factors before making a decision.

  1. Low processing fees
  2. Building your company’s creditworthiness

These two ideas are basic, yet incredibly effective for a small business owner. Don’t let “quick and easy” replace being cost effective and efficient.

About the Author:

Marco Carbajo

Guest Blogger

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for Dun and Bradstreet Credibility Corp, the SBA.gov Community, About.com and All Business.com. His articles and blog; Business Credit Blogger.com, have been featured in 'Fox Small Business','American Express Small Business', 'Business Week', 'The Washington Post', 'The New York Times', 'The San Francisco Tribune',‘Alltop’, and ‘Entrepreneur Connect’.

Comments:

Do any of these merchants accept and process multiple payment types, including credit, debit, EBT, gift, and loyalty?
Hi Laura, from your question, I'm assuming that you are asking if there is a credit card processing company who offers the above services. If I am correct about your question, please contact me at keeysturn@yahoo.com, and I will be happy to discuss a great program for you! Have A Good One!
By providing every type of payment processing solution, we ensure our Independent Sales Agents have the ability to offer customized solutions to help drive their and their merchants’ success! At North American Bancard, we are proud of the commitment we make to our merchants’ and Independent Sales Agents’ success. We are proud of our two decade commitment to helping businesses prosper. http://www.isoapply.com
I am with a company that offers very low processing fees (discount rate and interchange), no contract, no batch and annual fees, no monthly fees (for retail/telephone order accounts, and exceptional, hands-on type of customer service support. You can actually try their service for a month since they do not have contracts and they do not charge set up and application fees. Nothing to lose on your end so it's worth it to give them a try.
Thank you so much for recommending a very good employee. I just signed up and she took care of every thing for me. So far I am very happy. My money gets deposited to my account faster and I haven't had any issues with their services. It is very rare that you find an honest employee and low rates especially in the credit card processing industry. I may refer friends who are also business owners.
You're welcome! I'm always happy to help.
Would you please give me the name of the company you use for credit card transactions. Thanks!!
Can I get the name of this company? They sound excellent. Thanks.
Hello. You may email me as I don't think I can disclose specific information publicly. marjorie.gosling01@gmail.com
I used Merchant Maverick and Cardfellow to do my research. Lots of options depending on your business. seems like the best is the flat fee processors offering interchange plus pricing. If you do a lot of business, like over $10k a month just in credit cards, you probably want interchange + 0%, just a 10cent flat fee like payment depot or helcim.

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