Top 5 Tips For Selecting the Right Credit Card Processing Reseller Program

Infinite credit card processing agencies are vying for business by offering cheaper and faster services. However, businesses got to delve a touch deeper to assess the truth value of a credit card processing company. Additionally to an excellent processing fee rate, they ought to have clear terms, excellent value-added services, and a prompt customer care setup.

Select the proper credit card processing reseller program for your business by ensuring the following:

Include every fee within the contract

Some credit and debit card processing companies offering attractive processing fees to lure business. Once a business has signed contracts, hidden fees start piling up. Avoid this example by having the credit card processor include all fees monthly, yearly, one-time or the other within the contract. If the fees are uncovered at this stage, the advantages and disadvantages of each can be discussed and analyzed. Once the contract is signed, there's nothing much the merchant can do except to pay or terminate the contract. It makes more sense to be proactive and stop things altogether.

Verification of the performance record

Credit processors will have a decent promotion, but might not follow up on their promises. Survey the marketplace for agencies that have processed credit and debit card transactions for businesses in your industry and with comparable sales volume. Compare the fees charged, contract terms and conditions, policies and achievements. Getting references from business associates always works well.

Time is taken to transfer funds

Usually, a batch of transactions is processed once every 24 hours. The funds aren't available in your acquirer account immediately after processing. The time required for the transfer of funds varies with different institutions. Ask the agency what their time frame is, and ensure you get it in writing, in order that you'll be able to be assured of timely funds in your account.

Have a lawyer look over the contract

Contracts are couched in terms that are confusing and unclear to most of the people, even accomplished business person. Having your lawyer look over the contract is usually a decent idea. Check that there's nothing you are doing not understand. Many businesses make the error of signing a contract without understanding it completely and pay for it afterwards. Contracts are legal and binding. Therefore, take the time to scrutinize it minutely for ambiguity and hidden meanings. Have your lawyer explain it all, and only then sign in the line.

Get processor's contact info

Make sure you've got some contact names and numbers of individuals you'll get connected with directly, without inquiring customer care service. Get the contact details of as many company representatives as you can. Talking to someone within the company directly is beneficial once you require time and wish immediate assistance.

These useful tips can assist you to select a reliable credit card processing reseller program. Don’t get anxious with promises of cheap and fast service without substantiating the agency's reputation and past performance. Confirm you've got every fee and other details on paper. Clear-cut communication with the credit card processor makes for an extended and profitable business relationship.