So you’re starting up your small business – great! You most likely have everything figured out by now – the products, the market, the consumer. What are you missing? Well, few businesses give their payment processor choice the same level of decisional effort as their other major business decisions. You should rise above your competitors and understand the true effect of finding the right payment processor for your small business.
According to the Small Business Association, there is a trend of increasing credit card processing fees that are reaching 3.4% of your transactions. This is huge since, combined with your Merchant Account, you could be paying up to 5% or more on every transaction – just in fees. Yes, these kinds of payment processors offer versatile systems which quickly give you the processing services you need. They also usually accept all of your customers’ credit cards – so in a sense, you’re paying for convenience. Most business owners would simply swallow this logic and pay up – attributing quality gained as compensation for these sharp fees.
However, according to the SBA, there are special payment processors who specialize in offering small businesses super small “…processing fees ranging from 0% to 0.36%.” So, maybe your competitors have the state of the art payment processors – but if you do your due diligent research and find one of these special payment processors – then you’ll make more profit than your competitors.
Contact us today to learn more about our transparent, inexpensive processing fees for your business!