When choosing a credit card processor, options are everywhere. It comes down to making the right decisions for your company…and for your bottom line. 

Choose a Company You Can Trust

A lot of different companies work in the credit card processing space. Some of them offer incentives or introductory rates. Some have been around for years and some are brand new. They each promise security, savings, and opportunity.

You need to decide what is most important to you. As you consider which company you want to align your business with, find out about their history. How long have they been around? What kind of reputation do they have? Did they offer you references? Are they easy to work with?

Choose the company who has the reputation that you want your company to have: dependable, trustworthy, hard-working, etc.

Know Your Costs

Any credit card processor you work with will have transaction fees. Most of them will have two components: a per-transaction fee and a percentage of transaction. For instance, if the terms of your credit card processing agreement are 3.9% plus a $.40 transaction fee, then a $100 payment from a customer will cost you $4.30. This means that you’ll make $95.70, and that the rest is paid to your processor.

You’ll want to be aware of these costs when negotiating a contract. If you sell widgets and anticipate a high volume of relatively small transactions, you’ll want to get consider opportunities with lower per-transaction costs. If your customers are making bigger purchases, try to get the percentage-per-transaction costs down.

The point is simple: Enter into an agreement with a credit card processing company with your eyes open. Be ready to anticipate your out-of-pocket expense for each transaction so that you can make the right decision. Be aware of your upfront expenses as well, and you’ll greatly increase your chances of making an informed, strategic decision.

Avoid Gimmicks, Freebies, or Incentives

This doesn’t mean that you should always avoid introductory offers or available deals. It simply means that you shouldn’t get sucked into opportunities that seem too good to be true. If a credit card processing provider is offering you free equipment or unusually low fees, it could be an indicator of another issue you’ll want to consider.

Sometimes free offers or incentives require lengthy contract commitments. These commitments can keep you from making the right moves for your company. They lead you to make short-sighted decisions for a temporary benefit. Other times, these offers are an indication that a company is young, which could mean that you can’t vet them adequately. Newer companies come up with incentives to draw people in to their services. It doesn’t mean you should never trust a young company. But there certainly is value in a company that’s been around long enough to establish a reputation.


Viking Client Services - Committed to Your Company's Success

Viking Client Services has been committed to people and committed to good for 50 years. Our credit card processing services, just like the other components of our business, take care of our customers and help people thrive. To find the right services for your business, simply talk to someone on our team. We’ll help you make the decisions that work for your company and for your budget.

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10050 Crosstown Cir.
Suite 300
Eden Prairie, MN 55344

1-800-767-7895
952-944-7575

NMLS# 954098

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