Three Tips for a Better Relationship with Your Credit Card Processing
When it comes to credit card processing companies, you have many options available for your business. With this in mind, shouldn’t you have a great working relationship with the company that plays such an important role in your business? Make no mistake, as with many industries out there, there is plenty of competition. Finding the right processing company may take time. Below are a few tips for a better relationship with your credit card processing company.
1. First, does your credit card processing company come with a number of hidden costs you didn’t know where there? It can be a shock to your bottom line when you see all of those fees you weren’t really prepared for. If so, don’t let such fees go unchallenged. Simply ignoring the problem will make you an unsatisfied customer while letting the processing company increase their bottom line with your profits. Be sure to speak with a representative so they can show you were these fees were represented on your contract.
2. Occasionally, and by “occasionally” we mean often, credit card procession companies will raise their fees on each swipe. Before such rate hikes, contact the processing company and ask what the hikes are going to be and when they will take effect. Don’t fall victim to the fine print found on your bills and other correspondents the company sends to you. If you know what the increases will be and when they will occur, you can properly plan and raise your rates accordingly.
3. Always remember, you are the customer. Regardless if you are a small business just starting out, or a well-established box store pushing out millions in revenue; everyone deserves to be treated fairly. Don’t allow yourself and your business to be pushed around by well-known card processing companies or banks. If you don’t like the way you are being treated, give the company’s customer retention center (when available) a phone call and see if anything changes.
Perhaps the best advice you can take from this is to not be afraid to challenge credit card processing companies. If you feel you are paying too much, or if you do not like the way rates fluctuate every month, start shopping around. A general rule in business is that if you feel something is amiss, you are almost always correct. There are plenty of other companies who would love, and possibly fight for, your business.