3 Payment Processing Industry Problems to Avoid

Are you making any of these common problems with the payment processing system in your business? Sometimes business owners are too trusting of the payment processing providers, which could cost time and money in the future. Unfortunately, there are shady service providers, making it a challenge for business owners to find reputable services to use.

Today, we are uncovering some of the common problems in our industry. Our goal is to offer transparency so that you can avoid some of the common pitfalls that are faced. Here are a few things to watch for:

  1. Wrong Equipment: If you are still using outdated equipment, then it could have a negative impact on the security of the transactions. Your payment services provider shouldn’t let you continue using outdated systems. When possible, look for a solution to buy the latest equipment so you don’t waste money on a leased point-of-sale terminal. Some payment processing companies have a high turnover of customers, so they are looking for ways to maximize profits on the equipment. Watch out!
  2. Unreasonable Contracts: When a payment processing company is not confident in their ability to keep the customers happy, then they might try to tie you into long-term services with a contract. Don’t be fooled into signing a contract that only has the provider’s interests in mind. When you are working with the right processing company, you will be happy to stick around for a while (without a contract) because of the high-quality services you are receiving.
  3. Outsourced Services: There’s nothing more frustrating than calling your payment processing company for support, only to find that you’ve been outsourced to a call center in India. Instead of working with a company that outsources customer services, choose a team that gives you one account manager who will always be familiar with your business and preferences. This personalized approach ensures that you have a positive experience every time you call with questions.

At Veripay, our goal is to ensure that you are satisfied with every aspect of the services that are provided. If you are looking for a quality credit card processing company, then we are here to assist. Call to learn more about your options.

By |2019-07-10T04:06:30+00:00July 10th, 2019|Credit Card Security|