4 Important Features To Look While Doing Credit Card Processors Comparison

 Choosing the best among the top credit card processors for your business is an extremely critical decision, especially when it comes to seamless and secure credit card processing. After all, it is they who handle your money because businesses across the world count on top credit card processors such as WebPays for convenient, safe, and affordable credit card processing.

Let us find out what important features you should consider while comparing the top credit card processors for seamless credit card processing solutions.



#1. PCI DSS Compliance Process

The Payment Card Industry Data Security Standard (PCI DSS) refers to a widely accepted set of procedures and policies that are intended to optimize the security of digital transactions to protect cardholders against any possible misuse of their personal and financial information. Although PCI DSS compliance is not a legal regulatory requirement or law, it is an integral part of contractual obligations that businesses processing and storing debit, credit, and other payment card transactions are required to adhere to.

When selecting a credit card processor, you should ascertain how it will handle PCI DSS compliance. Top credit card processors make it a point to assist their clients in every possible way to help them fully comply with the stringent PCI DSS regulations.

#2. Retention & Reputation

What do past and existing customers of the potential credit card processor say about their business and work ethics? Has the ownership of the credit card processor changed frequently? A top-rated credit card processor with an impeccable reputation in the market will not hesitate for a second to provide reference letters, testimonials, and details about current customers for you to contact.

Ideally, a good credit card processor should have an A+ BBB rating and a retention rate of over 80 percent. You should also visit online forums to verify the claims made by the credit card processor related to uptime, downtime, customer satisfaction, transparency, fair terms and conditions, etc. It is highly recommended that you talk to peers, analyze all the fine print, and research reviews online. With a little bit of legwork, the final choice before you will be the best for you, your business, and your customers.

#3. Customer Service

When you need help, how fast and adequately will you get it? Do you have to wait hours before getting connected to a customer care agent or receive an email reply? Many credit card processors tend to outsource their customer support, and their level of assistance is not up to the mark. No one wants a credit card processor's customer support team. Right?

You should be able to dial a specific number that is available quickly and the person on the other side should be understanding, empathetic, and proactive in solving your problems, challenges, and concerns in the quickest possible time. Ideally, you should try contacting the different modes of communication (email, phone, live chat, etc.) related to the credit card processor asking the same question using different names and credentials to find their reply times and the level of customer support.

#4. Expertise in related industries & niches

Top credit card processors are more than just someone who performs credit card processing on your behalf. It should have a deep understanding of your market's challenges, pain points, and opportunities to help you be proactive in identifying challenges and grabbing opportunities with both hands.

The credit card processor must have expertise in a related industry and niche and must help you create and maintain the highest standards of data privacy, customer security, brand acceptability, and customer satisfaction. Moreover, it should offer transparent pricing structures, fair terms and conditions, inventory management tools, fraud detection mechanisms, sales & customer reporting, out-of-the-box customer billing options, and innovative lead-capturing systems.

#5. Pricing

It finally comes to the all-important question - can they save you good money over time? Will they be offering the most competitive and favorable terms for your business? How will they help you grow your business over time? Will they protect your business with robust chargeback management tools?

There are many ways to price credit card processing solutions: flat rates, tiers, interchange pass-through, etc. The right choice for your business will depend on your average ticket amount, what types of cards and payments you process, how many credit cards you process in a specific period, and many other factors.

Top credit card processors will go beyond the call of duty to guide and assist you in taking your business to the next level. Remember, your success is their success.

WebPays offers seamless and secure credit card processing solutions for all businesses. Our industry-leading payment solutions are highly scalable, innovative, futuristic, safe, affordable, and convenient. Contact us now to find out how WebPays, one of the most trusted and top credit card processors, can help your business grow exponentially while staying compliant, secure, and customer-centric at all times. Contact us now to get started today!

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