As a business owner, it’s important to deal with a payment processing solutions company that is trusted and reliable. For this reason, our team at Payeex has put this guide together outlining the most important questions a business owner should ask a payment processing company in order to determine if they will best fit the company’s needs. Our team understands that comparing payment processing companies is difficult so we wanted to help you during this process.
Funding
The term funding refers to the action of the bank depositing money from the client’s account into your merchant account. If you have to wait days or weeks to receive funds, this can create challenges for the business’s daily operations. For this reason, there are a few important questions you should be asking providers about. They include:
- How often will deposits be made into my merchant account?
- Are there minimum or maximum deposits per month?
- Will international sales be converted into my currency?
- Would my current bank account work with this?
- When can I expect to see my money?
Processing Fees
The term processing fees can refer to the cost associated with processing payments from customers. Some of the most common processing fees include: interchange fees, international fees, and chargeback fees. A payment processing provider should be transparent regarding their rates and how their fee structure works. Questions to ask about processing fees include:
- Can I review a sample monthly statement?
- Are there cancellation fees?
- What can I expect on the report each month?
- Do you have a 24/7 customer service line?
- Are my fees locked in or will they change over time?
Security
In terms of security with a payment process company, this is one aspect that can not be overlooked. Security breaches can steal money from you, corrupt customer confidence, and harm your company’s reputation. To make sure you are choosing the right company, check the history of the payment process company for a track record of security and ask the following questions:
- Do you offer any fraud protection?
- What time of risk is there when it comes to security?
- Is your system PCI-DSS compliant?
- What security solutions have you had to employ in the past?
- How do you work to keep customer data protected?
E-commerce Platforms
If you have or would like to launch an online store, having a trusted payment processor on your side is essential. Individuals who make purchases online are already cautious about putting their credit cards online so it’s important to establish a trusted reputation regarding online security with checkouts.
Consider Payeex!
If you are looking for a top payment processing company, our team at Payeex is your solution. Our team is well known to be one of the best-ranking credit card processing companies that can offer reliable and secure transactions. We are a safe, easy, and dependable team to work with for all of your online or in-store payment processing needs. To find out about our competitive market rate, call our team at 1-833-880-4591 today!