All businesses need a method to process payments including credit cards, debit cards, Apple Pay, and more. The payment processor that is best for your business will depend on your business offering and classification. For example, the payment processing options available to a non-profit business will differ from a retail business.

Things To Consider When Choosing A Credit Card Processing Company

Forms of Payment You Want To Accept

When it comes to deciding on a credit card processing company, you need to decide what forms of payment to accept. Nowadays, many businesses utilize a processing company and point of sale that accepts cash, all major credit cards, debit card, Apple Pay, and more. Not to mention having a POS payment device that enables customers to tap their card or insert for chip reading. 

POS System

Before deciding on a company, you need to know what type of point of sale (POS) system you are going to use for your business. Typically, the company you get the POS system through will provide you with a list of credit card processing options that can be easily integrated.

Additional Fees

With credit card processing companies, there are always extra fees. These include fees for payment processing, set-up, monthly use, PCI compliance, and terminations fees.

Your Business Type & Customers

Your business type, what you offer, where you offer your products/services (online or in-person), and your customers’ needs will impact your payment processor decision. For example, Shopify is great for online retail businesses while Square is best for those who want all-in-one services.

Customer Service

If you need assistance with your credit card processor or need to handle an issue, you need fast, knowledgeable, and available customer service. The best way to research this is to read customer reviews and try to get a hold the company customer service line.

Funding Time

How long does it take for the credit card processing company to deposit transactions into your business account? Knowing this is key, especially for small businesses.

Credit Card Processing Resources

• View our local banking options page. Many of these provide business services including credit card processing options.
• Best Credit Card Processing Companies- NerdWallet
• For Non-Profits:
  • Zeffy: Provides options for events, online stores, raffles, membership, & more. No fees.
  • Best Credit Card Processors for Nonprofits | CO- by US Chamber of Commerce