Business owners have the daunting task of finding and utilizing services that will help and not hinder their profits. Making the step to accept credit cards in your business will undoubtedly create more sales. It's the fact that convenience is what people are looking for. Last minute ideas make for quick sales. Those are usually the items that drive people to whip out their cards and spend. As a business owner you need to do your research and discover the most practical ways to provide this needed service for your customers. How do you choose a credit card processor, also known as a merchant service provider? Perhaps here we can clear a few things up and point you in the right direction. Here are four of the best credit card processing providers available today. These four companies all have very solid reputations.
Determining the pricing for merchant processors can be somewhat of a challenge. The rates depend on the amount of purchase as well as the type of card used. Some of them charge equipment fees, setup fees, processing fees, and interchange fees. Interchange fees are the fees that the banks charge and those vary as well. The key in choosing a processor is choosing one that can effectively and clearly break down those prices for you by explaining them in great detail so that you can make your choice. They must have a great customer service record and timely dispute resolution.
1. Payline Data Systems
In searching for the best credit card processing providers, Payline Data is one of the best with low processing rates and an easy to understand payment infrastructure. There is no monthly minimum charge involved. They also boast that they have no minimum contract length. Contracts can be on a month to month basis. They integrate their system with Lightspeed retail and also QuickBooks. This makes the job of tracking inventory much easier. Of course we are in the age of mobile technology so it is important to have a no cliché mobile payment system. Payline has an easy to use mobile system, which provides software for the Apple IOS operating system as well as the Android operating system. There is also no application fee, no account setup fee, and no termination fee involved in using Payline Data Systems merchant account processing program. Another great thing about Payline data is their newly developed humanitarian efforts. They have recently started a program for nonprofits and charitable businesses to refer other nonprofits and charitable businesses. Whenever referred companies do business with Payline, they donate 10% back to the referring organization. Payline has been in been since 2009.
2. Dharma
Dharma provides a very clear and detailed pricing structure for everything involved in using their service. Like so many of the others, Dharma has no monthly minimums, no termination fees, and no setup fee. However, that only applies to businesses processing at least $10,000 per month. This company has a great customer service solution and has been one of the leaders for over 10 years now. They have very ethical business practices and their fee structure is considered very transparent and easy to understand. One of the advantages the Dharma boasts about is the fact that their founder is a former executive of Card Services International as well as a former executive of Authorize.net. This company is backed by industry experience, a wealth of knowledge, and an all-around ample understanding of what their client base needs.
3. Durango Merchant Services
Durango merchant services is among the top companies for quite a few reasons. One of the most impressive is the fact that they have endured all of the technological changes and advances in society for a long time. Durango has been in business since 1999. Another is the fact that they specialize in high-risk specialty accounts. Finally, probably the most important reason to use them is because they have an impeccable customer service ranking. This impressive record is backed up by the fact that they have absolutely no complaints registered with the Better Business Bureau. Durango's payment infrastructure is a little more complex than the others. With Durango’s system your quote is based on, of course your equipment, your services, and other factors. Also, the pricing structure is computed according to the cards that are used. However, the main portion of your payment data is determined by your risk level. The higher the risk, the more you're going to pay for your monthly fees. Again their emphasis is on specializing in high-risk accounts as well as International accounts.
4. Square Reader International
If you are looking for a low cost, no frills solution to be used for very small businesses that don’t have a lot of transactions, you should consider using square. You can use this company’s device on your cell phone. If you have a retail establishment, you can order equipment from them for a very reasonable cost. They have very easily understood prices that are straightforward and don’t have any surprise fees. Just like the others they accept all major credits cards but use a flat fee for processing. The rates apply to every transaction. They also have no monthly fees, no setup fees and no hidden fees.
With Square your deposits are made into your bank account within 1 to 3 days with no associated delays. You can process your clients’ purchases by swiping or manually typing in their info. The swiping device can be ordered from Square for no charge. You do not have to have a merchant account setup to use their services. This eliminates the need for credit checks, equipment leasing, and a lengthy application process. It is very simple to use and requires any mobile device with an Android or Apple IOS system.
