Do you own a small business that sells products and services on the web? If so, you’ve joined the $389 billion (and growing) industry of eCommerce. By selling your products online locally, nationally, or globally, you have the chance to expand your reach and earn higher revenues.
However, one thing that some business get wrong when they begin selling online is that they choose the wrong online payment processing services for their business. These online merchant services allow businesses to receive payments from their customers, but not all of these payment solutions are created equally.
If you are looking into online payment processing services for your small business, here are a few things to keep in mind as you explore your choices:
- Fees: All types of payment processing companies, whether they are for online commerce or not, will charge a fee on each transaction. This is typically a small percentage of each sale. Make sure to compare charges, as some companies will cost more to use than others. Be sure to inquire about any hidden costs or monthly fees, too.
- Security: One thing that many consumers are concerned about when they make purchases online is security. This should be a concern not only for your customers but for you, as well. Make sure that all online payment processing services you use go through an encrypted connection to keep that data safe. Becoming a trusted online retailer can give your customers confidence in the products and services that you offer.
- Service: Finally, make sure that you pay attention to the quality of the service you’re getting. Many companies don’t provide comprehensive payment solutions that accept all types of credit and debit cards, or their systems have frequent outages. These problems can spell disaster for your business, and they can significantly decrease your profits, too. The service you choose should be quick, reliable, and friendly, too, in case you have any issues arise.