The Best Credit Card Processing For Small Business Owners
by Marco Carbajo, Guest Blogger
- Created: September 10, 2013, 10:17 am
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.
- Low processing fees
- 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 is CEO of the Business Credit Insiders Circle (www.businesscreditblogger.com), a step-by-step business credit building system providing lines of credit, trade credit and funding sources.
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