Payment processing companies have a lot of things in common. They will all have similar applications and fees for similar services. There are differences in features that payment processing companies will offer. Customer service will also differ between companies. Once you compare the similarities, you will need to compare the different features and their customer service departments.
These are some of the features that different payment processing companies will offer:
- Virtual terminal-this is the screen where customers put in their private (protected) information and payment information. This must be a secure website page
- Payment gateway-this is where verification occurs and the transaction is either approved or declined. There may be only one gateway or the option for more than one.
- Merchant accounts-the funds from customers go into the merchant account. This is needed to accept payments. These are set up between a financial institution and a retailer.
- POS credit card swiper-this will manually scan a credit card at the point-of-purchase at a retail location. This is needed when electronic swiping machines are down for any reason.
- Account clearance time-this is the number of days it takes for a transaction to clear after the card information is entered.
- Echecks-customers can use a check online for a transaction
- Shopping cart availability-some processing companies requires a shopping cart for e-commerce site and will offer a secure shopping cart with their processing services.
- Recurring billing-payments are automatically set up to come out for recurring future charges.
- Address verification-address is verified by payment gateway.
- Real time processing-verification takes seconds with real time processing and begins as soon as the customer presses the enter key.
- Secure socket layer (SSL)-protects credit card data and safely moves credit card (and other protected and personal information) with a 128-bit encryption method
- Card verification value (CVV2)-the small 3-4 printed number on the card that is never on a receipt and not included in the information on the magnetic strip.
- Types of credit cards accepted-different processing companies will accept all or some of the following cards; Visa, Master Card, American Express, Discover, and debit cards.
Some of the features may be built into the standard fees or they may have charges to be included in the processing package. Make sure you are clear what is and what isn’t included.
Calling at random times with random questions is the best tests customer service. Save this for when you are down to a few potential payment processing companies.
Merchant Data Systems has professionals ready to help you set up safe and secure payment processing. You can go to MerchantDataSystems.com to find out more. Contact a representative today or fill out an application.
Tags: 3rd party merchant account, accept credit card, accept credit card merchant account, accept credit cards, accept credit cards by phone, accept credit cards for business, accept credit cards free, accept credit cards now, accept credit cards on line, accept credit cards on website, accept credit cards online, accept credit cards payment, accept credit cards payments, accept credit cards today, accept credit cards virtual terminal, accept credit cards website, accept credit cards without a merchant account, accept major credit cards, accept online credit cards, accepting credit card, accepting credit cards, accepting credit cards online, account clearance time, account merchant, ach merchant account, affordable merchant account, american express, apply for merchant account, authorize net merchant account, bad credit merchant account, best merchant account, best merchant accounts, business accept credit cards, business merchant accounts, canadian merchant account, canadian merchant accounts, card merchant account, card verification value, cheap merchant account, cheap merchant accounts, cheapest merchant account, checkout merchant account, company services, compare merchant account, compare merchant accounts, credit card merchant account, credit card merchant account services, credit card merchant accounts, credit card processing merchant account, credit cards accept, customer service departments, CVV2, debit card merchant account, debit cards, discount merchant account, discover, e commerce merchant account, easy merchant account, echecks, ecommerce accept credit card, ecommerce merchant account, ecommerce merchant accounts, ecommerce payment gateway, ecommerce payment gateways, fast merchant account, features, first data merchant account, free merchant account, free merchant accounts, get a merchant account, get merchant account, high risk merchant account, high risk merchant accounts, how to accept credit cards, instant merchant account, international merchant account, internet merchant account, internet merchant accounts, linkpoint merchant account, low cost merchant account, low cost merchant accounts, master card, master card merchant account, mastercard merchant account, mastercard merchant accounts, merchant accept credit cards, merchant account, merchant account accept credit cards, merchant account accepting credit card, merchant account application, merchant account authorize, merchant account canada, merchant account chargeback, merchant account comparison, merchant account credit, merchant account credit card processing, merchant account credit cards, merchant account equipment, merchant account fees, merchant account fraud, merchant account gateway, merchant account internet, merchant account payment gateway, merchant account payments, merchant account processing, merchant account processor, merchant account processors, merchant account provider, merchant account providers, merchant account quote, merchant account rates, merchant account review, merchant account reviews, merchant account sales, merchant account service, merchant account service provider, merchant account services, merchant account set up, merchant account setup, merchant account solution, merchant account solutions, merchant account terminal, merchant account terminals, merchant account virtual terminal, merchant accounts, merchant bank account, merchant card account, merchant credit account, merchant credit card account, merchant data systems, merchant online account, merchant processing account, merchant services account, merchants account, mobile merchant account, new merchant account, nova merchant account, on line merchant account, online credit card merchant account, online merchant account, online merchant accounts, payment gateway, payment merchant account, Payment processing companies, paymentech merchant account, phone merchant account, Point of Sales, POS credit card swiper, pos merchant account, recurring billing, retail merchant account, retail merchant accounts, secure merchant account, secure socket layer, shopping cart availability, shopping cart merchant account, small business accept credit cards, SSL, telemarketing merchant account, telephone merchant account, third party merchant account, top merchant account, top merchant accounts, types of credit cards, virtual merchant account, virtual terminal, visa, web merchant account, wireless merchant account, wireless merchant accounts
