Questions to Ask Your Credit Card Processing Company Before Signing Up

When starting a business, any business owner will say that accepting credit cards is crucial because without them, growth and success will be limited. Since most major credit card companies don’t deal directly with businesses, they will outsource their credit card processing to processors, leaving a business owner no choice but to deal with them.

To prepare for this competitive marketplace, here are six questions to ask a credit card processing company before signing up with one —

1. Is there a cancellation fee?

Most processing companies will make a business sign a contract before doing business with them. If the business cancels the contract before it expires, a cancellation fee may apply. Business owners are advised to look for companies who either don’t charge a cancellation fee or limit their fees to less than $300.

2. Is it compatible?

Some process will have their own software that may not be compatible with certain online setups. Online business owners who are looking for a processor should always make sure that their software works with their online shopping cart.

3. What are the fees?

Aside from the fees charged with each transaction, it’s important to know what other fees may be involved. Some merchant accounts may charge monthly, annual, compliance, data security, chargeback or statement fees. Before signing any contract, it’s important to know all the fees associated with the account.

4. What kind of customer support?

If anything malfunctions, the business won’t be able to accept credit cards, leading to a loss in sales. If this were to happen, it’s important to know how they can be contacted. Are they opened 24/7? What kind of contact methods do they have? A processor that has 24/7 support with multiple contact options can usually resolve a problem pretty fast.

5. What kind of equipment is necessary?

In order to accept credit cards in person, a credit card machine will be necessary to process orders. Depending on the company, some may lease the machines, while others may require the business to buy it. If possible, try to buy the machine because this route is a lot cheaper than leasing.

6. What about processing?

Ask about how long it’s going to take the money to show up in a bank account. On average, merchant accounts should have the funds deposited within three days. If the company states that it’s going to take longer than that, then it may be ideal to seek another company.

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It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
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