There are several things you should consider when choosing merchant services for your small business. These factors include flexibility of pricing, acceptance of credit cards, and customer service. Choosing the right provider is vital for the success of your business. There are also advantages and disadvantages of each type of service. In this article, we’ll compare three types of payment processing services to help you decide which one is right for you.
Customer service
Merchant customer service is an important aspect of doing business. It helps keep existing customers happy and retain new ones. It also helps to protect the business from fraud and data breaches. These issues can occur during the payment process, so it is essential to follow the best business practices and security standards to avoid any problems.
Flexible pricing model
When choosing a merchant service provider, it is important to look at a company’s fee structure. A flat rate is often the best option for small businesses, but a tiered or interchange plus model is best for businesses with a higher volume of sales. Make sure you understand the fees included in your bill to avoid any surprise charges.
Acceptance of credit cards
Accepting credit cards is a great way to speed up payments for your small business. The merchant services for small business time it takes for credit card payments to reach your bank account is usually much faster than for any other form of payment. This means more money in your bank account sooner.
Stax
Stax is a fairly new company in the merchant services space and arrived in the market in 2014. It provides a customizable API payment portal and point-of-sale integration. It also offers two pricing models based on yearly sales volume. The company says that it strives to be transparent about its pricing and billing procedures.
Payment Depot
If you’re a small business owner in the US, you might want to check out Payment Depot merchant services. While it’s not the cheapest merchant services provider out there, it offers plenty of transparency and zero percent markup, making it a good choice for a variety of types of businesses. It also has extensive integrations. However,it may not be appropriate for some businesses, such as high-risk companies or those that sell adult products.