Credit Card Processing Guide For Small Businesses
Choosing the best credit card processing company for your new business can be a bit overwhelming, especially if you are a new business owner. If you have never heard of the words “merchant account” before and you don’t know where to start, know that this is the first thing you need to open before you start processing online payments.
Truth is, there are a lot of credit card processing companies that all seem to be doing more or less the same thing. Add to that all the glowing testimonials, and it gets harder to find the real and right one from the others.
And so you might be asking yourself, how am I supposed to find the best provider with all these circumstances? Who should I trust?
We get it. After writing various articles regarding credit card processing companies for years, we have heard from dozens of small business owners all trying to answer the same question and that is: Which merchant solution offers the best service for my business?
In this article, we will give you a good guideline on how you will be able to choose the best credit card processing company for your business.
How to set up credit card processing for small businesses?
Small business credit card processing is made possible with payment processors such as Allied Payments, that also works with SMEs and startups. They will help set you up with a POS system after opening your merchant account. You may also opt to use a mobile card reader in order to start accepting credit card payments through a smartphone application.
Learning how to start accepting credit card payments can be a big help in boosting your sales, improving internal cash flow, as well as provide a better transaction experience to your clients.
What is the best credit card processing for small business?
You’ll be lying if you say that you’ve never heard of Square Payments before. Considered as the best payment processor in the market today, Square is trusted by more than two million businesses of all shapes and sizes. They offer solutions for in-person selling with their Square POS as well as digital payment solutions for e-commerce websites.
They are well-known in the field because of their app-based payment system, the Square Reader. Its simple pricing structure makes them one of the most popular processing services on the market, especially for small businesses. They also offer the pay-as-you-go system which allows businesses who cannot afford a merchant account to have their own credit card payment system.
They are also known for their exceptional customer service, which is why some of the businesses they process refer to them as “The company that has it all”.
Providing business to payment processing services since 1998, PayPal specializes in providing simple ecommerce solutions to small online businesses. Since their entry onto the merchant services scene, they have expanded from online to offering storefront payment processing services. Their one price structure took over the payment processing industry and has set the standard ever since.
Offering businesses a very simple shopping cart integration, or payment buttons, merchants with the most minimal experience programming a website can usually figure out how to install the shopping cart on their own sites.
Although they aren’t the only provider with such type of pricing, the familiarity customers have with PayPal and how it operates has made it a household name. PayPal is generally a great choice for new businesses looking to get started with the most minimal costs while maximizing their customer's experience.
Specializing in setting-up merchant accounts for online businesses, Allied Payments is affiliated with a network of third-party processors and acquiring banks. This vast financial network has helped Allied Payments becomes a leader in the high risk merchant account industry. The best thing about them is that even though they can’t place every merchant at once, success rates of applications are higher among its competitors.
In addition, even if your business is considered to be a high-risk account, no extra charges and set-up fees will be asked from you even if they will do the extra work of keeping your account. Although they don’t disclose their account fees and processing rates and you’ll only be given a quote from their sales team and negotiating is never a problem with them.
With multiple different options available for merchant services pricing, Allied Payments has solutions to fit nearly every business's budget.
Bottom line is, when choosing the best merchant accounts for small businesses, you have to look at the majority of industries they serve. For instance, if your business is considered high-risk, it would be best to go with a high-risk payment processor. Searching between industries though will ensure that the business is finding the best services at a great price.
You then have to find which credit card processing for small businesses has the most standout features that will best fit your style. You can also check which of them could bring more value to your business with their services and payment features. When considering e-commerce services, you want to make sure the gateway and other services offered are what your business needs.
Allied Payments helps grow businesses with their wide array of services, whether your business is online or a retail storefront. Contact our small business merchant services team so we can help you find the best solution to fit the needs of your business.