| Accepting credit and debit cards provides a number of | | | | how that affects your pricing and service levels. |
| benefits for businesses, including boosting sales, | | | | In addition, check with other merchants - either in your |
| profitability and credibility. Customers expect to be able | | | | industry or city, or through online forums - to get a |
| to make payments with credit cards, and will routinely | | | | sense of how various processors are perceived in the |
| shift away from merchants or service providers | | | | marketplace. Someone who's locked into an |
| unable to offer their desired payment options. | | | | undesirable relationship with an ineffective processor is |
| The importance and value of accepting credit cards to | | | | usually quite willing to help other merchants avoid the |
| a small business makes choosing the right payment | | | | same mistake, and checking out word-of-mouth |
| processor a critical success factor. With competition | | | | recommendations can help you avoid a lot of |
| intense in the payment processing sector, many | | | | headaches down the road. |
| inexperienced providers are trying to tempt merchants | | | | Finally, make sure your payment processor is |
| with bargain-basement offers that hide expensive | | | | constantly exploring the latest security practices and is |
| fees in the small print, a reduced range or quality of | | | | fully compliant with requirements such as the Payment |
| service, or, in the worst examples, both. | | | | Card Industry Data Security Standard (PCI DSS). Ask |
| Instead of chasing low prices, consider the benefits of | | | | questions about the security of the networks and |
| aligning your business with an established industry | | | | channels that will be used to exchange data, and |
| leader that understands the payment processing | | | | about the procedures used to help protect your |
| needs of online and physical merchants as well as | | | | company's (and your customers') confidential data |
| service providers of all sizes. | | | | from fraud or hackers. |
| For example, you'll want to work with an experienced | | | | Securing your customers' personal and payment |
| provider who can offer your business the flexibility of | | | | information is a critical factor that your company can't |
| accepting payments via dedicated point-of-sale | | | | afford to get wrong. The direct costs, embarrassment |
| terminals, wireless terminals, payment gateways, or | | | | and lost sales associated with having to disclose a |
| mobile handsets. As your business needs change, you'll | | | | data breach can be devastating to a merchant, which |
| be glad your provider has the experience and flexibility | | | | makes checking out the security procedures used by |
| to adapt as well. | | | | your payment processor critical. |
| Similarly, as you research your options, look beyond | | | | The importance of accepting credit and debit cards |
| what appears to be a low price and carefully examine | | | | cannot be overestimated to your business, nor can the |
| hidden fees that can influence your costs considerably. | | | | importance of researching your payment processor |
| Consider your sales volume as well as your most | | | | carefully to make sure you select a processor with |
| common types of traffic. If most of your sales involve | | | | the experience, fee structure and security procedures |
| card-not-present transactions, for instance, investigate | | | | to meet your needs effectively. |