The wrong processor can do a lot to mess up your business and bottom line. Prevent stress and frustration by sidestepping the following mistakes companies often make when they look for a service provider for mobile payments.
Not knowing your audience
Before you start checking out service providers, it is important that you have a solid understanding of your target market. Once you do, ask yourself: what kind of payment options do they use, want and look for? That can tell you what kind of services you need.
Doing zero homework
Not all service providers for mobile payments are equal. That means you need to do a bit of homework to figure out which companies can provide the services your clients need. Spend time and effort in evaluating your options. That way, you can pick a solutions provider that you and your clients will be happy with.
Focusing on the monthly rate
When you look for a payment processing firm, calculate the cost. That should include all the fees. Learn to look beyond the firm’s monthly rate and find out if there are any hidden charges. For instance, are there assessment fees? Do you have to shell out for settlement fees aside from the monthly fees? What about charges for every transaction? Tallying these all up can help you pick the right merchant services provider.
Skipping the reviews
Find out what other customers and users are saying about the firm and it service. Are they happy about the services? Is the software easy to use and integrate with ecommerce platforms?
Forgetting about customer service
When you look for a payment processing firm, choose one that offers excellent customer service. When problems come up—and they will, that’s a normal part of business—you want staff you ca rely on to come through for you.