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If you do your research and find a company who has been in the business for quite some time, coupled with having a major company backing them will result in better rates and customer service. With almost 60 percent of purchases made through credit cards like Visa, MasterCard and American Express, just to name a few, why not make sure you can have the best rates. Typically 3rd party processors have increased rates because they have to get a cut of the pie in terms of commissions, whereas companies where this is not the case can give you the lower rates.
Some companies will attempt to sell your on great rates, but underneath this cost are interchange and assessment fees that you do not see when getting a quote on your merchant services account. That’s why it is always best to work with a company who can give the greatest rates and customer service and explain everything in black and white. After all, nobody likes surprises.
Some simple question you can keep in mind when talking to a salesperson about setting up your account is listed below. This is a small list with many others to consider.
Will I be swiping the cards through a terminal or will I be keying them in because the card is not present? The difference between swiping and keying in transactions can result in higher fees, so make sure you ask your merchant services professional to explain the difference in fees.
How many transactions will you be performing during the month? Typically all credit card processing companies will charge you a per transaction fee, which is where the interchange and assessment fees come into play with the hidden costs as explained above. So make sure you and your sales person are clear on this issue. Typically rates can range from .15 cents to .35 cents per transaction.
Do you need a printer? In most circumstances, merchants are not required to have a printer. But consider there is a small difference in prices from a stand alone terminal vs. a terminal that can be integrated with a printer unit. It’s always a good idea to have one so if you can find a company who offers free terminals with an imprinter, all the better. Don’t forget, you will eventually need terminal paper products to go along with this, but it’s good for record keeping.
Are you going to accept debit cards? If so then you are going to need a debit pin pad for verification purposes. This way your customers have more options available such as being able to offer cash back to their customers.
For more information on this subject and to find a merchant services company with a great reputation and award winning customer service contact IMSofPA today by calling 800-328-2269 or visit them online at http://imsofpa.com/
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