Just beginning with your small company? You may assume you can’t get terrific credit card processing rates, but that’s where you’re incorrect. By following these straightforward ideas, you’ll have the ability to receive credit card processing prices that make the large companies envious.
1. Contracts: Simply just Say Never!
No one likes to be stuck in a contract, from cell phone contracts to credit card processing contracts. Contracts are NOT mandatory, especially contracts with cancellation fees.
2. Find Cheap (or Free) Terminals and Avoid Leases
Credit cards and EMV terminals are cheaper than you think. If your processing company offers to include one in a contract, always make sure to read the fine print to see how much they’re charging you for it.
3. Choose Interchange, Not Tiered!
If you’ve had a business before, than you’re probably used to tiered pricing. The big businesses have it, so why shouldn’t you?
4. Always Know Where Your Money Goes
Before you start looking for a good credit card processing rate, you need to do your research. They are a fixed credit card processing expense, and they’re the same for all processors. Assessments are also a series of fees and rates charged by Visa and MasterCard, and they are the same across the board.
5. Never Think Small!
Because you’re a small business doesn’t mean processing companies can treat you like one, just. Credit card processing rates are the same for all businesses, small or big, so don’t let them make you feel insignificant as a small business starting out. The bigger you think, the smaller your rates.
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