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How to Evaluate Merchant Services for Your Business

May 30, 2016 by · Leave a Comment 

online-merchant-accountWhen you’re shopping online or offline for a merchant service provider, you’ll quickly realize there are a lot of options. Choosing the right one amongst all those names can feel daunting, unless you create system for yourself to help evaluate each provider based on your needs. With this guide, you’ll be on your way to figuring out what those needs are so you can figure out a baseline to evaluate the companies you come across.

Customer Service

The first thing you need is a good support system to help you when things go wrong. Call the payment processing company you’re looking to work with and ask them a few basic questions. You might want to ask about:

  • Monthly or yearly fees. If fees exist, ask to have them waived.
  • Setup fees, and what hardware or software you can expect to receive in exchange.
  • Rates and pricing structures.
  • Amex fees.

Anything that feels relevant to your business is on the table, so be sure to prepare questions beforehand. For example, you might want to inquire about whether services will work as an internet merchant account and an in store POS.


What registers are best for stores? Which payment processors work with iPads, Androids and other mobile devices? What about chip readers? Do some cursory research in this market to see what’s in for the foreseeable future. This will save you money later in the lifespan of your business, because you won’t need an upgrade for several years.

Final Thoughts

Once you understand more about the customer service, pricing and contract terms you know basically everything you need to know to evaluate a provider. You might want to keep some specific concerns in mind, but you should have enough knowledge to get the process started. Payment Solutions, Inc. offers affordable rates on merchant accounts businesses can use online and in store. For more information, visit

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