Choosing a Credit Card Payment Processing Service

Secure and timely merchant payments are a hallmark of dependable credit card payment processing service. If you are a small to medium sized business, then you need to have a merchant account which allows your preferred bank to take payments by way of credit card or debit card. Usually, an independent sales organization (ISO) or a payment processing service provider is the middle man that makes sure all operating and financial regulations are maintained.

Working with a processing services gives you access to a variety of merchant terminals and technology platforms to make sure your customer’s card payments and your business financials will runs efficiently and securely.

Customers Want Credit and Debit Card Payment Processing

When a customer swipes a card for payment, several things will happen at multiple stages. First, an authorization check and payment request is performed with the financial firm that issued the card. This transaction will either authorize or decline the credit or debit card and contact is made with that bank. This authorization must happen before the purchase is complete because it tells the business owner that the purchaser’s account has the funds to make the purchase.

Your business receives its payment and the customer receives a bill (in the case of a credit card purchase) after the transaction has cleared. Fees are collected from the merchant as payment for processing the credit card transaction. When you look at the statistics, it is easy to see why businesses are so eager to accomodate customers that pay with debit cards or credit cards.

“In a 2017 survey, payment processor TSYS asked over 1,000 consumers which payment form they prefer. Forty-four percent chose debit cards, while 33 percent selected credit cards, and only 12 percent specified a preference for using cash…In recent years, the percentage of people who use their credit cards as their sole payment method (rather than to finance purchases) has risen dramatically. More than half of all credit card holders use their cards for everyday spending.

You will be faced with multiple technology options when choosing a credit card payment processing company. The best ones will offer the following:

  • mobile and wireless options
  • countertop terminals
  • pin pad terminals
  • iPad or tablet POS systems

S&S Bankcard Systems is PCI compliant for enhanced payment account and data security. They also provide a free Online Merchant Rate Calculator to enable business owners and merchants to compare rates and fees. This way you can determine if you are currently paying too much in merchant account fees. This can help you decide which system is best for you business. With S&S, you get transparent pricing along with fewer fees and low rates.


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