5 Expert Tips For Choosing A POS System For Your Business
Choosing the right payment solution for your business can be frustrating. In addition to comparing rates and fees from dozens of processors, you’ll also have to decide on the type of terminal, and w
Credit card machines can help grow your business, but only if you can make it past all the red tape. Here are five expert tips to help get you through the tape faster and with more confidence:1) Assess Business Needs Before you get started, take some time to assess the unique needs of your business. Some questions you might ask yourself:
How many transactions a day do I expect?
Where are those transactions going to take place?
What types of payment do I need to process?
Answering these questions will help you identify payment solutions that fit your unique needs and budget.2) Consider Security Threats Any business that processes credit cards should know that security is an important part of building trust with consumers. If you can’t protect a customer’s personal information, they’re not coming back, period.
Always look for services, software, and equipment that is PCI DSS compliant. The Payment Card Industry Data Security Standard (PCI DSS) establishes standard regulations and policies for all payment processing. These standard will ensure your business is never compromised.3) Search for Perks The rates and fees for credit card processing services differ from processor to processor. Don’t be afraid to seek out better deals, offers, and incentives from these businesses.
For example, some processors give away free equipment and software when you sign up for their services; some may charge startup fees while others do not. Don’t assume all processors have the same perks or benefits. Shop around to save money.4) Better Customer Service Regardless of how well you take payments, at some point, you’ll need to call a customer service hotline for help. Large third-party processors may be harder to get on the phone if you need speedy assistance. Small processors may not have enough resources to provide 24/7 help. Processors should employ knowledgeable account representatives who deliver personalized service. Better customer service can go a long way if/when you have a payment emergency.5) Money in the Bank