While it is agreed that merchant services are needed for your online business, you must be careful in signing up. The fact is the account you choose should be able to assist you in building your business. Figuring out the ins and outs of credit card processing may be time consuming, but you will find it is much better to be picky than to have the processor taking too many of your profits.
Online merchant services may have higher start up fees than a retail account. The first thing you will need to do is find one that is affordable. This can be difficult if you are starting a business with a large risk for chargebacks. Generally, some of the businesses that will have to pay a higher start up fee are online pharmacies, online dating sites, and online gambling sites. Be prepared to spend as much as $300 on start up fees if you are starting one of these businesses.
These types of services also have more additional processing fees than a retail account, as well. The best way to make your decision is to read carefully through the material and determine the fees and charges that will apply to your business. If you are in doubt, clarify this before signing anything. The last thing you want is a high-price surprise at the end of the month.
Last, before you even consider signing a contract, find out the type of support system they offer to their customers. In fact, test it out by giving them a call or sending them an email. How long does it take to receive a response? The worst thing that could happen is to sign up and then find out that your questions or concerns are being ignored.
Choosing the best merchant services should take you some time. While many will state they can have you up and running in just a few days, be leery of these businesses. You want your setup done complete and should not rush into anything. The only thing rushing can lead to is problems.