Making Sure You’re Getting a Fair Deal with Card Payments

If you’re running a business and taking card payments, it’s super important to make sure you’re getting the best deal possible. We’re here to help you figure out if your current setup is giving you the best value, and if there’s a chance you could also save some money.

Understanding Your Business Needs

Before you start looking at different card payment options, it’s a good idea to think about what your business really needs. Consider things like how many transactions you usually make, how much they’re worth on average, and how you take payments – whether it’s in person, over the phone, or online.

Different Ways to Take Payments

There are a few different ways you can accept card payments:

• Card Machines: These are great for taking payments from customers right there in your shop or business premises.
• Virtual Terminals: If you’re taking payments over the phone or with a link, a virtual terminal lets you do that without needing a physical card machine. It also covers you for Customer Not Present (CNP) which Card Machines don’t.
• Online Payments: If you have a website, you’ll need a payment gateway to accept payments online.

Things to Think About

When you’re choosing a payment provider, there are a few important things to consider:

• Fees: Check out how much you’ll be charged for each transaction. Make sure you know about any extra fees or charges aside from the percentage processing rates.
• Contracts: Take a good look at the contract you’re signing up for. Make sure you know how long the contract is, and if there are any fees for cancelling early. Key tip: they can’t be longer than 18 months!
• Security: You’ll want to make sure your customers’ card details are safe and sound. Ask about what measures the provider has in place to keep everything secure. Will they help you with PCI compliance?
• Support: It’s always handy to have someone to turn to if things go wrong. Find out how easy it is to get help if you need it. And what’s the process if your card machine stops working?

Questions to Ask

Here are a few questions you might want to ask your payment provider:

• How much will I be charged for each transaction?
• Are there any extra fees I should know about?
• How do you keep my customers’ card details safe?
• What happens if I want to cancel my contract early?
• How can I get help if I have a problem?

It’s important to make sure you’re getting a fair deal with your card payments. By thinking about what your business needs and asking the right questions, you can make sure you’re getting the best value for your money – and that’s what it’s all about!