Exactly like point of sale systems, you have many alternatives when it comes to picking a payment processor. Lucky for you, our staff is here to answer the most frequent questions we receive about processing credit cards using a POS system!
Are there any long-term processing contracts?
The brief answer: It depends.
In ConnectPOS, we don’t make clients sign long-term contracts. You are not locked in for years on end — so if for any reason you are unhappy, you’re free to leave. But this is not true for many payment processors. You may be forced to sign a contract which lasts anywhere from three to five decades.
Being locked in with a chip means you are locked into your pace. They are also able to increase this rate at any time, and because you signed a contract, you can not do anything about it. In addition, this will not leave your company much room for expansion. Because most chips charge you by the portion of your total transactions, you pay more if your organization is making more. You will want to be flexible if your company experiences any modifications, rather than get hit with unreasonable cancellation charges if you discover a better deal.
Do I need to process credit cards with my POS business?
Again, this depends.
ConnectPOS doesn’t require clients to leave their payment processor if they already have one (or if they are stuck in a contract). And even when you don’t have a chip, you may still go with a different company if you don’t need to use ours. But, other POS companies may have different conditions — requiring you to use their payment processor and signal a long-term arrangement if you buy their system.
Bear in mind that payment processing integration with your POS system is beneficial for a couple reasons. Using the identical company speeds up transactions, confirms they are true, and makes it much easier to accept debit and credit cards.
Some chips may also suggest having a standalone terminal. Standalone terminals aren’t ideal because they may slow down the checkout process because transaction amounts need to be entered manually. Furthermore, processing fees associated with this apparatus are typically greater than average.
Last, your POS company may come to the rescue if something goes wrong with debit and credit card transactions. By way of instance, customers who incorporate our payment processing using a ConnectPOS system appreciate free 24/7 service and dependable solutions during outages. There’s only one number to call for any problems you might encounter.
Bottom line — incorporated processing is the way to go for a professional enterprise.
Are your processing rates better than my neighborhood bank?
Butreally — we are proud to offer competitive prices to clients. And if you’ve already been quoted a excellent rate that you are happy with, simply show us documentation and we’ll match that rate.
If you are a current customer of ours, or you become one in the future, we constantly encourage bundling your POS system with our payment processing. It’s a good deal simpler to work with us for everything than to keep tabs on multiple company contacts.
How do I choose a credit card processor?
Do the research, make some calls, and don’t rush. Make certain to read the fine print. We’ve talked to a number of clients who have been paying big fees for credit card processing — and they had no idea that it was happening. Processors can be sneaky about how they charge merchants, so be careful and pay attention to all the information.
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