{"id":202,"date":"2014-11-06T16:30:35","date_gmt":"2014-11-06T16:30:35","guid":{"rendered":"http:\/\/www.abtek.com\/blog\/?p=202"},"modified":"2014-11-06T16:30:35","modified_gmt":"2014-11-06T16:30:35","slug":"10-things-you-should-know-about-credit-card-processing","status":"publish","type":"post","link":"https:\/\/www.abtek.com\/blog\/2014\/11\/10-things-you-should-know-about-credit-card-processing\/","title":{"rendered":"10 Things You Should Know About Credit Card Processing"},"content":{"rendered":"

Payments processing is an ever-changing world. Starting a business or switching merchant services? Here are 10 things to remember when choosing credit card processing services.<\/p>\n

1. Merchant Accounts Aren\u00e2\u20ac\u2122t Optional<\/strong><\/p>\n

This is important. If you want to accept money from consumers, says the U.S. Small Business Administration<\/a>, you\u00e2\u20ac\u2122ll pretty much have to get a merchant account.<\/p>\n

2. Keep All Costs In Mind<\/strong><\/p>\n

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When looking for a payment processing provider, remember that not all costs may be financial. As QuickBooks points out<\/a>, if you pay a super-low price but don\u00e2\u20ac\u2122t get reliable help and services, it isn\u00e2\u20ac\u2122t worth it.<\/p>\n

3. Look for Deals<\/strong><\/p>\n

Some providers charge extremely low rates for small businesses, between 0% to .36%, according to the U.S. Small Business Administration<\/a>.<\/p>\n

4. Swipe Fees Affect Bottom Lines<\/strong><\/p>\n

Often merchants must pass on expensive swipe fees<\/a> to their customers in the form of prices. Research this before setting prices.<\/p>\n

5. Don\u00e2\u20ac\u2122t Forget About Chargebacks<\/strong><\/p>\n

According to the Wall Street Journal<\/a>, chargebacks happen when consumers disputes charges, but also when the service provider fails to input proper authorization codes. Talk to merchant solutions providers about how they deal with chargebacks.<\/p>\n

6. Not All Processing Rates Are Equal<\/strong><\/p>\n

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Credit card rates range from lowest \u00e2\u20ac\u0153qualified rates\u00e2\u20ac\u009d through \u00e2\u20ac\u0153mid-qualified\u00e2\u20ac\u009d to \u00e2\u20ac\u0153non-qualified rates.\u00e2\u20ac\u009d Factors such as terminal used, address identification and more determine the rate you\u00e2\u20ac\u2122re charged, says QuickBooks<\/a>.<\/p>\n

7. New Technology Is Coming<\/strong><\/p>\n

In 2015, credit cards will be replaced with new chip-and-PIN technology<\/a>, which requires each customer to enter their PIN.<\/p>\n

8. Remember to Batch<\/strong><\/p>\n

Merchants send requests for payment in batches. Do so every 24 hours, or risk higher fees<\/a>.<\/p>\n

9. Customer Service Should Be Free<\/strong><\/p>\n

Avoid providers that charge a fee to talk; this should be an included service, says QuickBooks<\/a>. And as you know, Abtek\u00e2\u20ac\u2122s team is filled with in-house credit card nerds who are passionate about what they do\u00e2\u20ac\u201cand about getting you answers. This is critical because your payments processor is one of your business\u00e2\u20ac\u2122 key lifelines.<\/p>\n

10. Keep An Eye Out For Extras<\/strong><\/p>\n

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Features like virtual terminals<\/a>, for example, make payment easy and cut down equipment. Check out extras before you decide.<\/p>\n

Remember to keep these facts in mind from the beginning and you\u00e2\u20ac\u2122ll have an easier time in the long run.<\/p>\n","protected":false},"excerpt":{"rendered":"

Payments processing is an ever-changing world. Starting a business or switching merchant services? Here are 10 things to remember when choosing credit card processing services. 1. Merchant Accounts Aren\u00e2\u20ac\u2122t Optional This is important. If you want to accept money from consumers, says the U.S. Small Business Administration, you\u00e2\u20ac\u2122ll pretty much have to get a merchant […]<\/p>\n","protected":false},"author":12,"featured_media":213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[28],"class_list":["post-202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-merchant-service-providers","tag-credit-cards"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t