How to Find the Best
Small Business Merchant Services in 2021?

Whether you want to accept credit card and debit card payments or online and over the phone payments from your customers, you will need the best small business merchant services. It is, therefore, important to exercise caution while shortlisting and choosing the merchant services. When looking for a merchant services provider, make sure the provider offers competitive rates, transparent pricing, and doesn’t include lengthy contracts.

Credit cards are the preferred payment option among modern customers that don’t really like the idea of counting cash at the store or carrying cash wherever they go. Just a swipe and the payment is done! The utter convenience and ease offered by credit cards make them such a highly desirable payment option among millennials and people of different age groups today. As a merchant, you should also have the ability to accept credit cards, debit cards, and gift cards – whether you own an online store or a traditional brick-and-mortar store. By accepting credit card payments, you can significantly increase your sales.

A merchant account is the first requirement for you to start accepting credit card payments from your customers. You can use this account for depositing funds from successful transactions and for paying various charges & fees. Merchant accounts may include various products/services such as point of sale (POS) systems, mobile credit card readers, and credit card machines (some merchant services providers like Payment USA offer free credit card machines), and more.

What to look for in the best small business merchant services provider?

When looking for a merchant services provider, make sure you consider the following elements to be able to decide better:

Hardware and equipment that meet your business unique needs:

Irrespective of the type of business you run, the need of equipment for processing sales is inherent. Even if you plan to sell exclusively online, you will still need a device – a laptop at least.  For business credit card processing, you will need the right technology that can help you accept credit cards, debit cards, gift cards etc. Some merchant service providers such as Payment USA offer free credit card machines and other equipment when you sign up for a merchant account with them. Modern credit card reading machines are quite robust and now you can get wireless as well as mobile credit card processing systems instead of a dedicated physical credit card terminal.

Software for streamlining and efficiently managing your business processes:

Thanks to the merchant accounts, businesses can easily track, store, and manage an ocean of data digitally – making it exceptionally easy to fetch the desired data for better and informed decision-making. Modern cloud-based payment processing solutions and systems make the data so easily accessible anytime and from anywhere. All you need is a device with internet connectivity. 

Transparent and reasonable fees:

Merchant accounts do not come cheap at all. The processing rates add to the cost of each transaction plus the fees your merchant services provider will levy on account of annual, monthly, and one-time charges for maintaining your merchant account. As a startup or small business owner, you might find these expenses quite an obstacle towards your business growth. The best small business merchant services providers like Payment USA charge a reasonable fee at least to sustain the competition and make a profit.  Make sure the merchant services provider you choose offers transparent and reasonable pricing.

Application or account setup fees:

Some merchant service providers may impose heavy fees on you for setting up your merchant account. It’s better you steer clear of these.

Annual/monthly account fees:

All providers will charge you some fee for maintaining your merchant account. This might come on a monthly or annual basis.  The fee may include free credit card terminals, virtual terminals, PCI-compliance scans, and other services you get as part of your merchant account.  

Other than this, there would be monthly minimums, fees for PCI compliance, statement fees, early termination fee, chargebacks, tiered pricing, and several junk fees. It is highly recommended that you talk to the experts at Payment USA before signing up a contract for your business credit card processing and other small business merchant services. 

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