If you want to accept credit cards in your business, you need a credit card processor. The best ones offer affordable pricing, flexible contracts, and no early termination fees.
There are two main types of credit card processing services: merchant account providers and third-party payment service providers (like Square). Choosing the right one can help your business keep more profits.
ProMerchant is a payment processing company that provides services to businesses of all sizes. They offer interchange and flat-rate pricing plans, credit card processing services and solutions, and payment terminals that can support all major credit cards and a variety of other types of payments.
They are a trusted and reliable provider, and their customer support is available round the clock. Whether you need help with an online transaction or a manual payment, they can get you set up and processed quickly.
Their terminals are EMV compliant and NFC capable, and their software supports a range of features, including inventory management, flexible APIs for third-party software integration, and contactless mobile payment. This makes it easy to process credit cards and make a profit without losing any time to the transaction, so you can serve customers faster.
In addition, they have several flexible options for merchant accounts, including an interchange plus plan and a flat-rate plan that both include no hidden fees. These month-to-month plans are a welcome change to the typical long-term contracts that many processors require.
For high-risk businesses, ProMerchant offers high-risk merchant accounts that come with fraud protections and other benefits. This is important for liquor stores, check-cashing, and other businesses that have a high risk profile.
ProMerchant also offers a quick account approval procedure, which can be useful for getting up and running in a hurry. However, it is always important to consider the pros and cons of this type of service before you sign on the dotted line.
The best credit card processors for small businesses are those that provide reliable and dependable services, along with reasonable rates. These are key factors in helping you build a strong reputation for your company.
A good credit card processing service should be able to help you accept payments from all types of customers, and that includes customers who don’t have a bank account. This will give you a better chance of attracting repeat business.
ProMerchant is a top choice for businesses looking for a trustworthy and reliable credit card processing solution. Their transparent pricing and flexible payment models will help you grow your business quickly and easily. They also don’t charge a setup fee, and they have an account approval process that takes just 24 hours or less.
Stax is a Florida-based credit card processing company that provides all-in-one services for businesses of all sizes. They offer credit card and ACH processing, invoicing and billing software, analytics, and more. Their pricing model is transparent and subscription-based, which saves merchants up to 40% on processing fees.
Stax has an extensive customer support network, including live chat and phone support. They also have an in-house tech support team, which helps business owners solve issues quickly. Stax also offers a dedicated account manager to high-volume businesses, as well as multiple integration options.
For a small fee, Stax provides customers with a virtual point-of-sale terminal that can be accessed through any internet-connected device. This terminal can be used to process credit card and debit card payments, invoice customers, create receipts and track inventory. Stax also sells mobile credit card readers that connect to the same virtual terminal.
You can get started with Stax by filling out a short application and providing basic information, such as your business licence, tax ID number, and Social Security number. Once approved, Stax will ship your equipment and install it for you. Stax also gives each new merchant a 90-day free trial.
As a Level 1 PCI service provider, Stax ensures that your data is protected by providing tools for scanning and ensuring security on your POS system. The company also partners with Approved Scanning Vendors (ASV) to search for vulnerabilities in your systems.
Stax also offers a wide range of add-on features, like one-click shopping carts and digital gift cards. These features can be especially helpful for small businesses that need to set up an online store quickly.
In addition to a free mobile POS app, Stax also sells Bluetooth-enabled card readers. These can be integrated with most POS systems and are a good choice for retail businesses that want to accept card payments from anywhere.
Stax is a top choice for high-volume, sales-heavy businesses that need a solid credit card processor. Its flat-rate monthly subscription plans and tiered plan options spread out fixed costs, so you can scale up your service as your business grows. It also has a lot of add-on features to help you grow and maintain brand identity on invoices, receipts, and websites.
Merchant One offers a range of services for small businesses, including credit card processing and a payment gateway. It also resells Clover POS systems and mobile readers, which allow businesses to accept payments on the go.
It has a very high approval rate, which is great for small businesses with bad credit. It also offers a free account setup and a customer management database.
However, it doesn’t offer the kind of personalized support you’ll find with other providers, and its prices aren’t as clear as other companies. Additionally, many customers have complained about hidden fees and contracts.
The company also relies on independent sales agents to market their products, and this often results in a very unsatisfying sales experience. In some cases, these representatives don’t have adequate training or experience in the merchant service industry.
They may also use a tiered pricing system, which means you’ll pay more for low-volume or high-risk transactions than you would for more lucrative transactions. The fees can also vary by business type, so be sure to ask for an estimate when comparing Merchant One to other credit card processors.
In addition to providing credit card processing, Merchant One offers a number of other merchant services, including gift and loyalty programs, text message marketing campaigns, check processing, and more. They also provide next day funding for most transactions, which is a bonus if you’re in the retail or restaurant industry.
Merchant One’s website isn’t as comprehensive as it could be, and you can’t learn a lot about its security measures online. You’ll need to speak with an account manager or review the terms of service for more information.
Another drawback is its three-year contract, which isn’t as long as most providers’. This will add up to significant extra costs if you need to cancel your account early.
It also doesn’t provide any details about how it protects your business’s data, so be sure to ask for more information. It’s also worth noting that some alternative providers do offer a free terminal or gateway with no contract.
Although Merchant One has a lot to offer, it’s not the best choice for most businesses. It’s easy to sign up and has a relatively good customer service department, but it’s not always transparent about its prices or contracts. You should also be wary of eager sales representatives, especially when it comes to hidden fees and other contract terms.
Square is a popular option for businesses of all sizes that want to accept credit cards. It offers a simple signup process, affordable equipment costs, no monthly fees or long-term contracts, and easy-to-understand pricing.
Unlike traditional payment processing companies that hire outside sales agents, Square relies on online marketing and partnerships to grow their customer base. They also offer free POS systems to small businesses and individuals.
When you sign up with Square, you get set up as a submerchant under their master merchant account with acquiring banks, which makes the application process faster and easier than with some other processors. After you submit your information, Square sets up a debit and credit card reader that works with your smartphone or tablet, so you can start accepting payments.
Once you have a Square account, you can use the company’s POS system to swipe or dip cards, run e-commerce transactions, send invoices and receive payments from clients through a virtual terminal. The app can also be used to handkey credit card information into a secure form for your website or to send email receipts.
You can also take payments on the go with a free mobile device reader. Square charges 2.6% + 10 cents per transaction to swipe, dip or tap a card in person and 3.5% + 15 cents for each keyed-in transaction on your website. It also has a chargeback protection program that will cover up to $250 a month.
If you do receive a chargeback, Square will place a hold on your funds to freeze them and then deduct from your bank account any money that is needed to cover the cost of the transaction. They also offer a capital loan program for business owners who are cash-flow-challenged or need to purchase new equipment, inventory or a new location.
However, many Square reviews from high volume merchants report murky fund holding policies and poor customer support. The company claims that there are no transaction limits or monthly caps, but large sales and a sudden increase in average ticket size can trigger a funding hold.
Credit card processing is an essential component of running a successful business. It allows your customers to pay with their preferred method, and it reduces the risk of theft from cash-only businesses.
The best credit card processors have low rates, few or no fees, and flexible terms. Some also offer additional features, like online store management or customer marketing tools.
For example, Square is one of the best credit card processing companies for small businesses because it offers inexpensive rates and free e-commerce software. It also has point-of-sale (POS) software that expands as your needs grow.
A good credit card processing company will be transparent about pricing, including the cost of transaction fees and monthly or annual fees. This information should be posted on the company’s website so you can shop around for a better deal.
Another important factor to consider is whether the credit card processing company you’re considering accepts high-risk merchant accounts. Some credit card processors charge higher fees for businesses in industries that are prone to fraud and chargebacks. These include tobacco shops, pawn shops, and subscription services. Additionally, some processors may not work with certain kinds of businesses, such as firearm dealers and alcohol sales. In these cases, you should be sure to choose a processor that understands your industry’s specific needs.