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No matter which type of store you have, your customers expect you to accept credit and debit cards. But choosing a credit card processing company can be difficult. There are many factors to consider, including fees, contractual terms and hardware costs. It can be hard to know when you’re getting a good deal and when you’re not.

To avoid paying more than you have to for payment processing services, keep the following tips in mind as you choose a company to work with.

Choose the right type of processor.

If you process less than $3,000 per month, or if your average ticket size is $10 or less, consider a flat-rate processor that doesn’t charge any additional fees. Even though processing rates for flat-rate processors are higher than what standard payment processing companies charge, your overall cost will be lower, because you won’t have to pay monthly and annual fees. However, if you process more than $3,000 per month or your average ticket size is high, you may save money using a standard credit card processor.

  • Flat-rate processors are usually upfront with their pricing and post their rates, fees and terms on their websites, making it easy to compare services. Most offer their services on a pay-as-you-go basis, so there’s no lengthy contract to worry about and you can cancel your account without penalty if the service isn’t meeting your needs.

  • Standard payment processors are often less transparent with their pricing and terms, so you’ll need to call these companies for information. The seven tips below can help you select a company with competitive rates, fees and terms.

1. Ask for interchange-plus pricing.

You want to call several companies for pricing quotes. Most will provide tiered pricing, so you may have to specifically ask for interchange-plus rates.

Some sales reps may try to discourage you from this pricing Read More Here