In the United States alone, there are an estimated 33.8 billion credit card transactions processed each year. Let that sink in for a moment. That’s over 90 million transactions per day, and 3.8 million per hour, and that’s a whole lot of swiping and tapping, folks. Behind every transaction, there’s a credit card processor making sure things run smoothly. For the unfamiliar, credit card processors are the messengers that send credit card information between businesses and credit card associations (like VISA, MasterCard, or American Express).
For small business owners, picking the right credit card processor is critical—and can make all the difference in a great experience for your customers. But with so many options out there, how can you know which processor is right for your business?
We’ll make it easy with four features you should look for when doing a credit card processor comparison.
1. Responsive Payment Forms
We’ve said it before and we’ll say it again—customers want convenience. When it comes to the digital payment experience, convenience is all about giving customers a payment form that’s easy to access and use on any device. They don’t just want to pay with a credit card in store—they want to pay on their desktop, mobile phone, or tablet. That’s why we developed Checkout.
Our Checkout solution provides a responsive payment screen that adapts and looks consistent across any device.
2. Bank Agnostic Gateway
Merchant accounts can be a pain to set up. And once you have one in place, you probably don’t want to go through that process again. Yet, some credit card processors won’t be able to connect to every bank and may ask you to open a new account. Choose a credit card processor that already integrates with your existing bank.
At Worldline, we’re proudly bank-agnostic and can connect to nearly every financial institution in Canada and the United States. Don’t have a merchant account yet? We can provide one too.
3. Opportunity to Grow Your Account
If you’re a small business now, that doesn’t mean you will be one forever. One of the primary goals of most businesses is growth — so why would you lock yourself into a contract that limits you? At Worldline we get that, and we can easily adjust your account when you outgrow it.
As a small business, you start out with a PSP (payment service provider) account. But if you start processing higher volumes ($100,000 a year on Visa, $1,000,000 on MasterCard, or $500,000 on AMEX), an ISO (independent sales organization) account may be better suited to your needs. Worldline grows with you, so you can make the transition to a new business model (and better fees) without having to switch providers. That’s something most of our competitors just can’t offer.
4. Great Customer Service
You’re busy, and so are your customers. Delays can mean a lost sale, so when you need support, you need it right away. Top credit card processors will have a well-established customer service team in place to answer your questions at any hour. When comparing processors, look for candidates that offer support in your region and time zone. For your convenience, your top candidate’s support team should also be reachable across multiple channels, like phone, email, and chat.
A credit card processor comparison can help you pick a service that will support your business and help you grow. Look for processors that blend right in and work alongside you, with responsive payment forms, the ability to work with any bank, and are easily accessible when you need support.
Want to cut to the chase? Contact one of our sales representatives today!
Image credits: Stock Rocket / Shutterstock Inc.