Credit card processing buying tips from other BuyerZone users

Current Rating:

Don't be too revealing

"Many credit card processors wanted my bank information just to develop a quote for me. I chose a processor (gateway) who actually discussed all the contract terms and supplied ALL the supporting documents and customized fee schedules before I revealed my bank account or signed ANYTHING."

- Kent Busse, Computers – Software, Chicago, IL

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Current Rating:

Keep looking for the best deal

"Be patient and shop around for the best rates. We received free equipment, free paper supplies, no lengthy contract and great professional service. We are only paying 17 cents per swipe and a rate of only 1.59%. We are very satisfied and are glad we shopped around."

- Jeannie Farnsworth, Retail, Buffalo, MO

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Current Rating:

Slow down, you move too fast

"Don't submit any application with a payment processing company until you think you are ready to sign. You can end up with an active merchant account before you are ready."

- Amy Stutz, Retail, Rochester, NY

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Current Rating:

Do the math

"Check all costs (annual, recurring and per transaction) before purchase and weigh against your gross sales before making decision."

- Jacci Rhymer, Other Services, Lake Elsinore, CA

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Current Rating:

Check rates for all types of buyers

"When evaluating mail order and online credit card processing company quotes, make sure that you get quoted the different rates for qualified, mid-qualified and non-qualified buyers. The lowest and only rate they will give you initially is for a qualified purchaser. However, a significant number of your clients will be charged at the rate for the later two and the added cost can be .75% or more for the most expensive processor compared to the least expensive."

- Legal professional, Chicago, IL

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Current Rating:

How they treat you now can be a clue

"When trying to choose a company to work with for anything always keep in mind that they are trying to earn YOUR business. If they have poor service and poor response times when they are trying to get you to invest with them then just imagine how poorly you'll be treated once they already have your money. Customer Service is a company's front line and if they aren't worth a darn then the company probably isn't either."

- Nathan Wehrman, Other Services, Kalispell, MT

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Current Rating:

Only fools rush in

"Always give your brain and gut intuition time to process the sales pitch. Evaluate the sales person's tone, body language, professionalism, and aggressiveness, as well as the product information. Make a spread sheet or simple list to compare sellers' offers. Put it away, sleep on it, and review it the next day. Your brain needs this time to process the information."

- D. Bley, Other Services, Chattanooga, TN

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