Top Merchant Services for Small Businesses

Top Merchant Services for Small BusinessesEarlier this year I embarked on a new business venture.

It was mostly dealing with offering an online service so I was forced into researching different merchant services for small businesses.

Was I in for a rude awakening…..

I can’t believe all the different options that exist today for small businesses.

Small businesses face a seemingly endless list of unique challenges in attempt to grow in an increasingly competitive marketplace.

Among the most difficult of those challenges is accommodating the demands of customers when it comes to payment.

A small business offering excellent products and services may find itself unable to survive if it is not prepared to accept payment by credit or debit card or other forms of flexible payment, or to establish a viable electronic marketplace for its customers.

Large businesses have the resources—both in terms of finances and personnel to deal with such matters, but small businesses typically do not.

Merchant Services:  Dealing with Small Business Payment Processing

A small business may find itself in need of a merchant services company to assist with payment processing and e-commerce tasks.  The small business that is unable, for instance, to process credit and debit card payments will find itself at a competitive disadvantage, regardless of whether its primary focus is products or services or whether its business model is primarily traditional, digital or a mix of the two.

Merchant service firms can help small businesses by establishing the ability to deal with a variety of payment processing needs.  A merchant service firm can make it possible for small businesses to accept credit cards and debit cards.  This capability can serve a Web-based business or a portable business model.

For instance, with a wireless credit card processing capability, a trades-based service (plumbing, electrician, heating and air conditioning service, etc.) can accept credit or debit card payments easily despite the mobile nature of the business.

E-Commerce Merchant Services for Small Businesses

Small businesses that rely upon or are looking to expand into the area of e-commerce can utilize a merchant services firm to enable the process.

Credit and debit card payment processing is critical to running a business with an e-commerce component and that’s a readily available merchant service.

Many merchant service firms, such as Blue Pay, can simplify and streamline the payment checkout process by seamlessly integrating the payment process with popular shopping carts.

The acceptance of electronic checks is yet another flexible payment system that can be enabled by a merchant services firm, safely and securely.  There is tons of information about eWallet Solutions if you do your homework.

PCI Compliance and Account Verification

One of the major bugaboos for small businesses when dealing with credit cards, whether the transaction is of the traditional or electronic variety, is security.  Any merchant services firm worth its salt is in compliance with the Payment Card Industry Data Security Standard (PCI DSS) to assist in the process of keeping your data, and that of your customers, safe from the host of problems involved with credit card fraud.

Similarly, any good data services firm is able to ensure speedy and accurate account verification, making it possible for your payment transactions to be processed quickly, accurately and safely.  Before signing on with any online merchant, do your homework first.  Resources such as the BBB exist to protect you from being scammed by a bad company

 

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Comments | 1 Response

  1. says

    “A small business offering excellent products and services may find itself unable to survive if it is not prepared to accept payment by credit or debit card or other forms of flexible payment, or to establish a viable electronic marketplace for its customers.”-This couldn’t be more true. The world is going digital and shows no signs of slowing down. One study even claimed that mobile payments could phase out cash by 2020: http://www.merchantseek.com/news/new-technologies-driving-payments-away-from-the-use-of-physical-money/

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