4 Ways to Find the Best Payment Gateway for Your Business  

No matter the type of industry you’re in these days, it’s necessary to provide your customers with multiple payment options if you want to generate as many sales as possible. While cash is still used (typically for small, regular transactions), many people now prefer to pay online or via cell phones so that they can use their credit or debit card, PayPal account, or the like.

However, if you’re just about to launch a home-based business, or want to start accepting more forms of payment, it can be challenging trying to decide which mobile payment processing provider to choose out of all the options on the market. If you want some tips on finding the best firm for your needs, read on for four things you should consider today.

image2

Know Your Specific Needs and Goals

Firstly, before you think about signing with a payment gateway, you need to be clear about your organization’s specific needs and goals. While there are dozens and dozens of different merchant services firms to choose from, they don’t all provide the same services to their customers — and similarly, not all customers need the same services.

For example, some businesses might be after a simple merchant account with the bare minimum of features, while others may require extra functionality, such as the ability to process payments on a smartphone; inventory management capabilities; or the incorporation of loyalty programs.

If you’re to find the right company for you, you need to first be clear on things such as the “must have” facilities you need, plus where and how a payment system will be integrated into your operations.

Furthermore, it pays to examine whether or not the payment processing firm you’re interested in actually accepts all forms of payment, as not all of them will. In this day and age it is helpful if your payment gateway can accept debit cards, Diners Club credit cards, American Express credit cards, and PayPal transactions.

Analyze Pricing

Next, price is of course going to be one of the biggest determining factors in your choice of providers. When you compare options, remember that different companies structure their fees in different ways. As a result, you need to closely analyze pricing to see what will be the best value for your needs.

Some firms charge a flat fee per transaction, no matter how many payments are put through the system in a given period (generally either monthly or annually); while others have a variable fee that is based on the number of transactions which need to be processed. Others again have monthly payment plans which differ according to the level of overall transaction value.

Keep in mind too that some providers charge a start-up fee when you join up, while others may not but then might expect you to commit to a 12-month contract. Similarly, some companies charge cancellation fees, while others offer month-by-month services with no minimum periods to be worried about.

It also pays to examine whether or not the merchant services firms you’re interested in ever charge any potential extra fees. These can include things like:

  • System-integration costs for installing their software in your system
  • Charges if you change your point-of-sale system and need an update
  • Fees for accessing customer support
  • Withdrawal charges each time you want to transfer funds over to your bank account

 Examine Security

Another thing to factor in when deciding on a payment gateway is how secure each firm is. With hackers across the globe coming up with new techniques to break into websites and get access to sensitive customer data all the time, digital security is imperative.

When you analyze firms, ask them to provide information on their security protocols. The most closely-guarded gateways typically have precautions such as:

  • CVV2 verification
  • Data encryption
  • Billing address security
  • Complex encryption algorithms
  • Support for top-level SSL certificates

Check the Availability of Customer Support 

Lastly, it’s very important to make sure that you sign up with a firm who makes customer support available to its clients when they need it. While you hope that transactions and systems always run smoothly, sometimes issues just do occur. When this happens, you need to be able to get in touch with your merchant services provider for assistance.

It is a good idea to choose a company which provides 24-hour a day customer support, 365 days per year. This should be via a variety of communication methods, including phone calls, emails, and live chat conversations, so that you can select the most convenient way to get in touch.

Continue Reading

Why Hire a Message Taking Service?

A Message Taking Service can save you valuable time

Photo by CC user Vera Kratochvil on http://www.publicdomainpictures.net/

Competition has risen drastically in almost every industry over the past few years. After the market crash of 2008, millions of people found themselves out of a job. In order to get back on their feet, many people instead decided to launch their own businesses. The government began to offer a series of incentives and offers to entrepreneurs in the form of tax incentives and subsidies. As a result, over the past five or six years, hundreds of new businesses have been launched throughout the United Kingdom.

Many markets have already become saturated. There are viable alternatives available for virtually every product you might want. As a result, perhaps the only way by which a small business can distinguish its service is by offering superior customer support. Customers want to feel valued. They want to know that the money they are paying was worth it, which is why it is important for you to provide quality support and after-sales service.

However, setting up a customer support department is not as easy as it looks. Most small business owners do not have the capital or the resources to allocate space in their office to set up a separate customer support department. A vast majority of small businesses only operate with a handful of employees. Your customers will obviously expect support around the clock. You will need to purchase telephones, set up a live chat option on your website and reply to customers’ emails regularly. But it’s unlikely that one of your employees will be available via phone at all times. In many cases, you might end up missing calls just because employees were busy or not in the office.

Hiring a Message Taking Service

There are companies that can take messages on your behalf whilst you are busy working. If you want to offer prompt service to your customers, hiring a message taking service is an excellent idea. A message taking service can ensure that no calls are ever missed. The company will answer all telephone calls and take down any messages from consumers. Obviously, it’s important not to show that the services were outsourced. That’s why the message taking service will make it seem as if the call is being handled by a member of the company only. There are certain customer queries that just can’t wait, which is why the company will deliver all messages to your email, fax or SMS.

The Benefits

Even though you may not realise it at first, hiring a message taking service is an excellent option. For small business owners, the benefits will become clear in the long run. Customers will begin to rely on the after-sales support and service offered by your company. It will also free you from the hassle of having an employee sit by the phone at all times, allowing you to work on improving your services and products to make your company grow.

Continue Reading