Why is it SO important to choose a certified payment processing company for your business? Well if you don’t go with certified, your business may be affected with disastrous consequences. In this article, we’re going to tell you about the different certifications and standards to look for in a payment processor before you decide, and we’ll give you some great tips to find the best certified and approved payment processing rates.
PCI compliance not only pertains to merchants, but it also affects merchant account services, or payment processors. It’s crucial for merchants to be PCI compliant for numerous reasons, one of the big ones being that your ability to process transactions could be revoked in the event of an incident.
If your payment processor doesn’t understand the importance of your PCI compliance, it may be time to move on (especially if they’re charging you a PCI compliance fee). If your processor is charging you a PCI compliance fee, make sure you’re actually paying the fee in exchange for a useful service. If they’re giving you tools, information, help, and advice on PCI compliance, then the fee could be worth it for your business. PCI compliance is a major part of the payment industry, so choosing a processor that shares the same security standards and values as you should be pertinent in your decision.
A monumental part of being a certified and trustworthy payment processor means ensuring high-level security standards in the industry. If you don’t know your payment processor’s security measures, you need to ask to make sure your information and your customers’ information are safe.
At Fattmerchant, many of our merchants take solace in knowing that their credit card transactions aren’t being run by servers in our office. Instead, these payment are processed on secure networks owned and operated by Vantiv, one of the largest and most reputable payment processing security organizations in the nation. When you find out how you and your customers’ credit card transactions are being processed and stored, you’ll know just how safe your payment processor is handling your business. If their standards seem inadequate and insufficient, it’s time to make the switch.
Finding the Best Certified Rates
When it comes to finding the best credit card processing rates, you’ll see some really great deals that look too good to be true… and they are. That’s because they’re not certified, secure, and approved in the industry. Now finding the best certified payment processing rates is another story. Take a good look at your next merchant bill. Look closely at all the fees you’re being charged and whether you know what each one entails.
What does that PCI compliance fee mean for your business? Is your merchant processor providing an actual service for this fee or is it just another charge they’re adding on and hoping you won’t notice? Once you understand the charges on your merchant bill and the services you’re receiving in return for them, you’ll feel better with your processor’s rates. If they’re not providing any services in return, once again, it’s time to switch processors for good.
Next time you speak with your merchant account service representative, you should also ask them what their certifications are and how they’re storing your data. You’re paying them to keep your account information safe for you and your customers. That’s a pretty big deal and any breach is threatening to your business. If you’re unsatisfied with their security values and standards, you’re definitely not getting your money’s worth from them and you’ll need to reevaluate the processor.
Don’t settle and don’t be afraid to ask questions. That’s the only way you’ll know if you’re receiving the most beneficial services for the most cost-effective price. Your business deserves nothing but the best, so don’t settle for mediocre services. If you want to see how your current merchant bill compares to us, contact Fattmerchant today! We’ll tell you all about the great services we can provide for your business and how much you can save by making the fatt switch.