What do online merchants look for in an payment processor?
Most merchants don't know what they need or want. They just Google "merchant account" and click on whoever paid the most that day to get top ad placement.
With that being the case, I'll respond to the question from our perspective.
We've worked with thousands of merchants over the years and have seen just about everything. The most important variable is does the merchant service provider appear to be a perfect fit for the merchant. This may sound like a no brainer but it's almost always overlooked by both the merchant and the processor..
An e-commerce merchant should select the solution with the most ecommerce experience and expertise. If an e-commerce merchant walks into their local bank branch looking for a merchant account, the bank teller cannot answer questions about gateways, shopping carts, optimization techniques and robust fraud prevention tools. Price is irrelevant if you're not getting what you're paying for.
Secondarily, the payments industry is radically evolving these days, Many processor now offer cool touch screen POS and software solutions, big data analysis, marketing and loyalty programs plus a whole slew of unique tools to help merchants grow their business over time. Before you sign the line, ask "what can you do for me that other can't?".
Lastly, size does matter and it's one of the factors that will make or break the success of the relationship. Are you just starting out and process less than $5K? Go with a PayPal or some other aggregated solution. They're cheap, have simple pricing and no long term contracts but don't offer any customer support. Merchants that are $5K - $100K should work with their local agent to get onsight support. $100K - $5M+ would be better serviced by an Independent Sales Office or ISO. The biggest merchants should work with the biggest processors/acquirers.
In conclusion, the most successful merchants have the best fit with their payment processors. You could spend a week trying to shave another 0.10% off your fees or get the tools to help grow your business.
With that being the case, I'll respond to the question from our perspective.
We've worked with thousands of merchants over the years and have seen just about everything. The most important variable is does the merchant service provider appear to be a perfect fit for the merchant. This may sound like a no brainer but it's almost always overlooked by both the merchant and the processor..
An e-commerce merchant should select the solution with the most ecommerce experience and expertise. If an e-commerce merchant walks into their local bank branch looking for a merchant account, the bank teller cannot answer questions about gateways, shopping carts, optimization techniques and robust fraud prevention tools. Price is irrelevant if you're not getting what you're paying for.
Secondarily, the payments industry is radically evolving these days, Many processor now offer cool touch screen POS and software solutions, big data analysis, marketing and loyalty programs plus a whole slew of unique tools to help merchants grow their business over time. Before you sign the line, ask "what can you do for me that other can't?".
Lastly, size does matter and it's one of the factors that will make or break the success of the relationship. Are you just starting out and process less than $5K? Go with a PayPal or some other aggregated solution. They're cheap, have simple pricing and no long term contracts but don't offer any customer support. Merchants that are $5K - $100K should work with their local agent to get onsight support. $100K - $5M+ would be better serviced by an Independent Sales Office or ISO. The biggest merchants should work with the biggest processors/acquirers.
In conclusion, the most successful merchants have the best fit with their payment processors. You could spend a week trying to shave another 0.10% off your fees or get the tools to help grow your business.
I migliori orologi da abito replica riuniscono un vestito. Sono il tocco finale definitivo, ma non dovrebbero monopolizzare i riflettori. Perché sono un accessorio che si aggiunge all'aura del proprietario, ma è un accessorio necessario per ogni uomo. Penso che i migliori orologi da uomo dovrebbero essere progettati tenendo presente questa citazione: "La semplicità è la nota fondamentale di tutta la vera eleganza". Soprattutto, sono minimaliste con un'estetica classica e disinvoltamente chic, e possono essere perfettamente nascoste sotto il polsino della camicia. Le funzioni sul quadrante non devono andare oltre la finestra della data o il sottoquadrante dei piccoli secondi. È meglio non usarli entrambi insieme.
If you are a Merchants and business owner, looking for online Payment gateway. Here we write about the top 10 payment gateways in India for your easy perusal.
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