With a payments market flooded with out of the box, sign up and go payment solutions for businesses, many entrepreneurs may not realize how much a lack of versatility is actually hurting their bottom line.
Most businesses, specifically B2B, require a variety of options when collecting payments from clients. Additionally, business owners may not understand the complicated world of processing rates and how their rates match up in the big picture. The right payments provider should be offering a diverse portfolio of products, personalized attention to your business needs and something more customized than flat rates and high fees.
Many mainstream payment processing companies offer limited choices in terms of technology and hardware. They may have few options when it comes to mobile card readers, terminals, pin pads or POS solutions. The right payment partner will do a complete audit of your business payment needs and match your business with hardware designed to meet the needs of your customers.
Omni Channel Payments
Gone are the days where we pop in to the utility company to write a check for the electric bill. Today’s consumer want to pay and shop conveniently, online, on their phones – with a click of a button. A good payment provider will not only be able to provide you the right hardware, but also the support, software and gateways to let your customers pay online.
Always up for debate, rates can be a big sticking point, or an awesome selling point for a payment processing company. First thing to remember – beware of incredibly cheap rates. Having said that, many mainstream processors (typically aggregators) are offering flat rate +fee per transaction. These fees are typically very high and most of the time arbitrarily packaged as a promotional fee that ends up costing businesses. Get with a payment provider that can do a thorough review of your volume, sales and rates and offer you a customized program built to save money in the long run.
Contrary to popular belief, selecting the right payment partner is about so much more than rates. Ask questions, understand options and pick a company that is a good fit. For a free consultation contact NTC Texas Today!