1. Do You Offer 24/7 Customer Support?
Please see if you Merchant Support offers services for 24/7.
2. Do You Offer Live Support?
Please see if your Merchant Support has dedicated agent team for Live chat support.
3. How Long Have You Been in Business?
You want a provider with a proven track record. Stay away from newcomers, no matter how attractive their offerings may sound.
4. Will I Be Able to Process Online and Offline Transactions?
Stick with a provider who can eventually take your retail business online (or your online business offline).
5. Are Your Payment Systems PCI-Compliant?
Please ensure you are compliant with regulations.
6. What Fraud Protection Services Do You Offer?
With new credit card liability rules, you want to reduce your exposure to credit card fraud as much as possible. Ask each merchant account provider how it protects sensitive financial data.
7. What Is the Average Processing Time for Funds?
Predictable cash flow is essential to the success of your business. You want to know (in advance) how long it takes for funds to clear.
8. Is There a Cancellation or Early Termination Fee?
Some merchant account providers penalize clients for canceling contracts prematurely. Although such fees are standard, you shouldn’t have to pay more than a few hundred dollars.
9. What Other Fees Are There?
Cancellation fees are standard — as are transaction fees. But be sure that you understand any other charges that may apply. Again, the goal is to avoid unwanted surprises.
10. Is Your Payment Processing Compatible With Our System?
Many merchant account providers use proprietary payment systems that clash with pre-existing online shopping carts. Before signing the dotted line, make sure that the provider’s processing technology is compatible with your system.