Because of our real-world experience with operating a high-transaction volume, high-revenue-generating eCommerce site, we have the confidence appropriate to describe the best credit card processing services. When we make recommendations in our merchant account comparison, we do so from a point of view that stems from our management of a site that processes more than 21,000 credit card transactions in a month and yields more than $10 million in a year. So suffice it to say that, as a result of our 10 years of eCommerce experience, we have intimate knowledge of quite a few credit card processing providers, which is why we take particular delight in outing those with outrageous fees and contract stipulations. To avoid making the same mistakes that we accumulated, read our articles about credit card processing services. When you compare merchant accounts, Flagship Merchant Services should rise to the top of your list of considerations. We invite you to read articles about credit card processing services in our Learning Center.
The approach that we take in our credit card processing review is one that we share with you so that you know exactly how we arrive at the rankings and comparisons that we have published. When you consider the best credit card online processing services, what becomes apparent is that they let you accept payments from a number of different locations. In fact, they let you accept payments even if you are outside of mobile network range.
In our credit card processing service review, we identify which providers offer merchant accounts that use the Authorize.net secure gateway. Authorize.net provides a free mobile app, but more importantly, it processes your customers’ online payments and provides you with tools that help you manage your online business. Authorize.net also provides fraud-prevention tools and it gives you free customer service.
Average Approval Rating
Members of the credit card processing services industry advertise their average approval ratings, which reveal what percentage of applicants they approve for merchant accounts. You should also know in advance of applying how fast the service usually approves applicants and whether there is a fee to apply.
Cost Per Month
In order to ascertain what a relationship with a credit card processor is going to cost you on an ongoing basis, factor in all of the costs and fees based on the volume of transactions that your business plan anticipates.
Figure out what it is going to cost you to set up a merchant account and its associated payment gateway.
Account Setup Time
As you establish your merchant account, realize that in addition to a startup cost in terms of money, there is an account setup time to consider. Some services will set you up in a day. Others might require a few days. A day or two shouldn’t matter to you as you execute your carefully considered business plan, but if it will make a difference, choose your provider accordingly.
Believe it or not, there are credit card processing services that do not offer 24/7 customer service. In addition to making note of customer service hours, it is a good idea to notice how a particular competitor allows you access: online chat, telephone or email?
All of the services in our review provide you with an online virtual terminal, but they are on a continuum in terms of features and whether or not they provide you with a shopping cart.
Each competitor in the credit card processing industry offers various point-of-sale equipment designed for specific industries, so study the offerings to see how they meet your specific requirements. Most competitors also have card scanners that attach to smart phones so that you can process sales transactions from locations away from traditional business properties.
Over more than 10 years, TopTenREVIEWS has received millions of visitors as they shop for products and services in the more than 900 review site categories that we host and maintain. Our financial success depends in part on our ability to correctly choose the best credit card processing service. And your financial success also depends somewhat on your choice of card processing provider. Our earnest wish is that, in sharing what we have learned about this service category, you will be able to learn from our experience and save money.
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»Take advantage of one-on one training on credit accepting and how to use the virtual terminal
»Ability to set up automatic recurring billing.
»Transactions occur on a 128-bit Secure Sockets Layer (SSL) website for safe processing.