How to Choose the Right Merchant Account for Your Business

Choosing the right merchant account can be a gigantic leap forward of your company's bottom line and customer satisfaction. With so many available, how do you choose appropriately?

Begin by thinking through your business requirements. Think about your quantity of sales, average transaction value, and whether you require in-store, web, or mobile payment capability. A boutique business is different from an e-commerce behemoth.

Review fee structures carefully. Don't skip over the highest rates to see all the fees: setup fees, monthly fees, transaction fees, chargeback fees, and early cancellation fees. The cheapest rate offered isn't always the best deal.

Put security compliance first. Make sure any provider is PCI DSS compliant to protect customer data and protect your business from liability. This is not something to negotiate in today's data-sensitive world.

Assess integration ability. Your merchant account must be able to integrate smoothly with your current accounting package, online store, and point-of-sale terminals. Compatibility avoids headaches from not being able to operate.

Verify customer support exists. Payment problems must be resolved immediately. Ensure that providers have 24/7 support in multiple channels. Nothing frustrates customers more than payment issues.

Keep in mind, Trinity Consultings the proper merchant account is a business partner, and not merely an accounting service. Do take the time to research, ask questions, and select a solution that will grow with your business.

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