Best Merchant Service Providers Small Business

Which Credit Card Machine is Best for Your Small Business? Congratulations! You’ve started your own business, now how do you actually sell your goods and make some profit while you’re at it? In today’s plastic heavy market, having a credit card machine is one of the first things a small business owner needs to consider.

With the liability shift that started in October of 2015, almost all credit card machines available are EMV-compliant. Or in other words, accept chip-enabled credit cards, as well as NFC payments which are contactless forms such as Apple Pay. However, there is no magic solution to finding the perfect credit card service to fit your business.

Examining your business model can help you decide which service provider and credit card machine are right for your small business.Square for VersatilityIf versatility is important to you, then Square may be one of the top payment solutions to explore. Charging a flat fee of 2.75% per swipe, no contracts, and the ability to accept payments virtually anywhere. Should you need a cash register, the Square Stand can provide that when connected to an iPad. Choosing to use Square and the square app does lock you into using only their software.

Additional apps like Square Dashboard can help you manage employees hours, provide sales reporting, and track inventory.With a lot of attractive features, there are still some less than glamorous sides of using Square. As a new business owner, having a real customer service representative assigned to your business can be extremely helpful. Square does not offer extensive customer service and merchants can be left to problem solve issues on their own.

Plus, if you are a high volume business, for example, a coffee shop, the rates offered by Square lose their appeal compared to a more traditional merchant service provider.Shopify for eCommerce First MerchantsSome small businesses models have both an online and brick-and-mortar store where payments can be accepted. If your business offers these options then Shopify might be a good tool to use. They offer three pricing levels varying from 2.2-2.7% per transaction. As well as a free magstripe reader (for in-person transactions) that plugs into your iPhone or iPad with the Shopify iOS app.

Building and customizing your online store is user-friendly with pre-made templates allowing you to accept orders and payments. Plus the sales you make from the online or in-person store will be synced and tracked with Shopify for easy analysis and inventory. Similar to that of the Square, choosing Shopify may leave you high and dry in the customer service department.ShopKeep for Brick-and-Mortar Standard brick-and-mortar stores such as small business restaurants and retailers might find the options available with ShopKeep enticing.

ShopKeep has a free app that works with iPads but you can also purchase additional devices such as a credit card machine and a cash drawer. The rates with ShopKeep are variable and can be used with a third-party processor. With cloud-based software managing the logistics of running your small business is made simple. Purchasing each device separately can add up and possibly not integrate with one another. Hardware issues and extra expenditures can be disastrous for a new business.Clover is CustomizableIf your small business wants to customize their POS system, then Clover is the all-in-one package for you.

This device is EMV compliant and fully customizable. Offering an App Market with loads of free or paid apps to create the type of POS system that best fits your business plan. The Clover runs on its own hardware, offering a solution for pretty much all of your business needs. Choosing from Clover Mini, Clover Mobile, or the Clover Station.Choosing the Clover system (while potentially pricey at first) may mean that you never have to worry about payment processing solution for your business again. Automatic updates and upgrades will keep your business outfitted with the latest in payment processing technology.Your Credit Card Machine Each merchant service provider will have its own preferred credit card equipment and point of sale solutions, and your friendly payment processing specialist can guide you to the credit card machine best matched to your small business. Facebook Twitter Google+ LinkedIn

A merchant processor sets you up with an account that allows you to accept credit and debit card payments in exchange for goods or services. Although accepting cards as payment sounds simple, multiple parties are involved in moving each transaction through a secure connection between the merchant processor, the credit card network, the card-issuing bank and your business's bank account.

The customer's information travels through this secure network, and after the card is debited for the transaction, funds are deposited into your bank account.Because merchant services are an elaborate process involving multiple parties, pricing is complicated and can be wrought with fees. Many of the best merchant processors post their pricing on their websites, while others tailor their pricing to fit your specific business. Factors that can impact your pricing include your company's creditworthiness, average monthly processing volume, average ticket size and whether you process transactions in person or online.

Even though credit card processing is complex, having a merchant service account is a business necessity because your customers expect to pay for goods and services using a card just as they would use cash. Choosing the wrong merchant service provider can be expensive, which is why it's essential to choose a company with transparent, reasonable pricing that provides your small business with upstanding service.It's important to weigh your options when choosing a merchant service provider.

If you need a simple solution or process less than $3,000 per month, our Mobile Credit Card Processing reviews can help you find a suitable solution. Or, if you need a comprehensive point-of-sale system that works with a merchant service system, check out our POS Systems reviews.