An important decision like finding the best merchant services provider usually involves several steps. These include looking at the available options, searching for recommendations from any other merchants, identifying the most probable candidates, and carefully assessing their products and services. The final decision boils down to several crucial aspects, like the provider’s reputation and experience, the package they offer as well as how well it meets your business requirements.

One thing is for sure is that there are numerous merchant service providers you can choose from, and they are always advertising that their deals are the best. But best for which businesses. The truth about credit card processing is that it is not a one-size-fits-everywhere proposition. Merchants also need to take their time analyzing their needs and outline them honestly and openly to potential providers. If you are a business owner, choosing a merchant services provider for your credit card processing needs should be a priority for your business. Unfortunately, you could be easily intimidated by the process and afraid of making a mistake. Careful thought, as well as preparation, could aid in ensuring that the experience as well as outcome are the best. Here are some things that could make your search for merchant services easy.

  1. Carefully Research the Options At Your Disposal

By seeking a merchant service provider, you will be going into a business partnership with a party that will be handling the financial side of your business’s operations. It is for this reason that you must go for a reputable service provider with a good track record. You can conduct initial research online or ask other business owners whether they could recommend a provider. Collect names and data, shortlist your preferred merchant providers, and look for more information about each provider. At this stage, it is crucial for you to trust your gut. If you are not pleased by what you hear or see, go ahead to the next name on your list.

  1. Fees Need An In-depth Consultation

As you approach different providers, you will discover that there are various rates and fees associated with their credit card processing services. Some like transaction fees, interchange fees, monthly statement fees, chargeback, and batch processing fees are standard in this industry, and all business must pay them. Far from this, there are usually “junk fees.” Usually, these will include charges such as security fees, file fees, conversion fees, audit fees, back bill fees, excessive transactions fees, and over-limit fees. If any of these “junk fees” appear in the contract, request they be removed since they will be included in your monthly bill. Also, after signing a contract with a merchant service provider, check your monthly statement to ascertain that you are not charged for products or services you are not utilizing. For instance, if you process your payments through the internet and come across a charge for the dial-up service, be sure to question it.

  1. Inform The Providers About the Future of Your Business

For you to secure the best possible payment processing agreement, a merchant service provider should have a comprehensive understanding of all aspects of your business operations. If you are running a traditional retail business from a small storefront but intend to expand things onto the internet, inform your provider so that they can tweak the package to include related services and products in the proposal. Businesses that have a mobile workforce could benefit financially and operationally from wireless or mobile credit card processing, but this is only if the owner shares the information with the merchant service provider. Moreover, a merchant wants the best for your business in terms of success and competitiveness on the market. Help your merchant service provider do their job by being honest with them about all your plans.

  1. Be Honest When Completing Your Application

A merchant service provider like will request specific information about your business, your personal finances as well as vital information about you as you apply for a merchant account. Besides tax, banking, and contact information, they will ask about the kind of business you operate, the sort of volumes you process as well as your average sales. A business that is already accepting credit cards will be required to produce a few of the most recent statements. Copies of the business’s articles of incorporation and personal guarantee, as well as business permit or license, will also be requested. Merchants who tamper with their business’s financial information or misrepresent their business are likely to be nabbed and rejected by the service providers.

  1. Inquire About the Financial Aspect of the Process

Imagine what would happen if you failed to inquire about your expected monthly payment or when your credit card proceeds will be deposited into your bank. You are obliged to know upfront the financial obligations you have to your merchant account processor and also vice versa. For instance, will your fees and rates change without prior notice? How soon can you access your finances after a transaction has been completed? What is the provider’s policy regarding chargebacks? How much could it cost if you wanted to modify your current package to meet the change in your requirements? These are valid questions that deserve honest responses from your potential merchant service provider.

  1. Look At the Fraud Protection Programs Offered

Credit card fraud could and always happens to merchants of different sizes. In fact, there is sufficient evidence showing that scammers, fraudsters, and cybercriminals specifically target small businesses because they are considered vulnerable targets to a blitz attack. Achieving as well as maintaining PCI compliance is the first step towards storing all your sensitive information and ensuring the security of your customers. A reputable merchant account service provider will help with PCI compliance and provide a data breach security program which aids in offsetting potentially massive expenses following an actual or suspected breach of your customers’ payment card data.


With these six things at your fingertips, it is easy for you to find a merchant service provider who suits your business needs.