Furnishing customers with the ultimate payment experience is the icing on the cake for your business, that can even boost sales and grow your profits. 

The key to making this happen is to partner with a merchant provider with demonstrated expertise, and the willingness to collaborate with you to meet your company’s specific needs. 

Even a cursory search of options will show you that the market is brimming with choices, making it crucial to know the must-have features that you can’t live without in a payment services company.

Fair prices

Obviously, payment processing isn’t free, but it doesn’t need to break the bank either. While there are some costs dictated by the credit card companies that you cannot change, plenty of other charges vary and can even be negotiated during the sign-up process.

During your research, take a deep dive into three or four options to determine what you might pay if you partnered with each. 

Keep in mind that the cheapest is not always the best, so be sure that you are getting the features you need and want for the cost.

No hidden fees

Transparency should be the name of the game. Surprises might be nice on your birthday, but you don’t want them when your payment processing bill is delivered into your inbox. 

Steer clear of any company whose costs are not presented clearly and in full, and avoid any that seems wary of answering the questions you have.

Offers numerous payment options

Any company will give you credit card processing services, but you should also collaborate with a vendor that enables customers to pay using other methods as well. 

Require that the company you choose also lets you take digital wallet, e-check and even multi-currency payments if you are running an international business. 

Set yourself up for additional success by requiring that your system allows for alternative options such as recurring billing, buy now, pay later (BNPL). 

When customers learn that you have made it possible for them to pay using the method they prefer, their satisfaction levels – and potential future sales – will increase.

Excellent customer service

No doubt, you have attempted to make a purchase in a store and been told that their payments system is down. You may have needed to scramble for cash, or wait seemingly forever for the problem to be resolved. 

As a business owner, you want to do everything in your power to avoid this scenario for your own customers.

If technical difficulties or training issues arise, you need to be able to get in touch with knowledgeable assistance immediately. Look for a merchant provider who can promise customer support via a variety of channels, including human assistance, searchable knowledge bases, user forums and email support. 

During your vetting process, do a test drive to see if the help desk number actually works and provides timely service. After all, every minute lost represents more frustrated customers and profits endangered.

When you make the optimal payment processing company choice, you can look forward to many years of solid partnership that can foster your success. 

Affordable charges, updated features and a focus on the secure payment options your customers have come to expect will be the cornerstones of your retail achievements – now and for years to come.