Did you know that 20 percent of small businesses fail within the first two years of opening their doors to customers? One of the biggest reasons that startup e-commerce businesses struggle is a lack of processing services that allow your customers to pay with their preferred method of payment. These payment systems allow your customers to choose the payment method that suits them best.
There is no doubt that you’ll start to lose customers if you don’t keep up with the times and use the best payment processing companies when growing your business. The good news is that you’re about to learn more about the things to look for when hiring processing services to work with your company.
Keep reading this article to learn more!
1. Check Their Pricing
The first thing that you’ll need to do when you’re looking at payment methods to offer your customers is looking at the pricing for your business. The price is dependent on the business model that you use, the payment types that you plan on accepting, and the volume of orders that you receive from customers.
You’ll also face setup fees if you’re a new business so you’ll want to account for that in your budget. Look at the different plans offered by these payment processing companies to make sure that there isn’t a certain sales quota that you need to meet each month.
2. Look at Device Compatibility
You need to make sure that the payment methods that you’re offering are compatible with a variety of devices to cater to a large number of people. Some payment systems work well on both Apple and Android products while others struggle with different devices and become glitchy. You should also make sure that these devices are compatible with Bento.
3. Look for Smooth Integrations
If you want to keep downtime to a minimum then you need to look at payment options and card processing systems that integrate smoothly with your existing setup. Look at how these payment methods work with Shopify, Magento, and WordPress before you sign up for anything.
4. Consider a Recurring Bill
Some businesses provide services rather than products, so it is important to consider finding payment systems that allow you to collect recurring payments on autopilot. Working with the best payment processing companies will make it easy to collect the money that you’re owed with minimal effort.
5. Get Customer Support
Many businesses get thousands of dollars in transactions coming through their payment systems each day. All it takes is one thing going wrong to cost your business big time, so you need to find processing services that have great customer support. They’ll help you sort whatever happened and get the money that you deserve.
Start Searching for Payment Processing Companies Today
Running a business is difficult under any circumstances, but it’s even trickier if you don’t have a variety of payment options to meet the needs of your customers. Card processing and things like Apple Pay will go a long way toward keeping your customers. You should also consider finding processing services that will help you collect recurring payments if your business offers a service.
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