Between hidden fees and markups, it seems like businesses are always getting overcharged when it comes to credit card processing. Fortunately, when purchasing new credit card machines, there are ways to save. Saving starts with finding a processor who genuinely cares about giving your business fair pricing and quality service. Keep more money in your wallet with these tips on how to save on credit card processing and machines.
Find Cost-Effective Processing Equipment
If you’re signing up with a processor for the first time, they may offer you complimentary or reduced credit card processing machines just for registering. In addition, processors usually boast about how they can get your company lower “discount rates,” but yet the prices always seem to remain the same. You wind up losing your earned profit due to all the ancillary fees and nonsense markups deducted from each transaction. The real savings come in when you save on processing over the long run.
Ultimately, it’s important to select a merchant services company that’s transparent and gives you honest, no mark-up pricing.
Reasons Why Buying Is Better Than Leasing
Investing in new credit card machines may sound like a costly subject. When considering what equipment to acquire, you must first identify the type of credit card machine you want. Additionally, you’ll need to locate a reliable payment processing company that can help you fulfill your business’ payment needs.
In order to receive the most cost-effective option, it would be wise to buy instead of lease. The amount of money spent on leasing your equipment will exceed the cost of buying. Furthermore, companies with leasing options make it very difficult for you to break the lease. Buying your own credit card machines will help you save money and provide you with an effective, long-term solution.
What to Consider When Trying to Increase Revenue
You can retain and recover your profits, as long as you know what to look for. If your business really wants to save money on credit card processing, this is what you need to keep in mind:
After markups and fees are tacked on, your business can end up spending up to 3 times more than the actual cost it took for your processor to process the transaction. They can also increase the cost without notice if you’re locked into a contract. You can avoid this by choosing a merchant processor that offers unlimited credit card processing with a subscription-based flat monthly fee, at direct cost, for the cards your business processes.
Any time you do business with another company you develop a relationship. With any new relationship, you shouldn’t feel tied down before you’ve formed a strong rapport. That’s why it’s important to choose a credit card processing company with no termination fees. If the processor is honest, they should believe in their product enough to let you cancel at any time.
Make sure the credit card processing company you chose has easy to reach, helpful customer service so that any of your questions will be easily answered. This will allow you to get quick answers about costs and the fees your business is charged with so that you can determine their fairness. There is nothing more frustrating than being on the phone with customer service and being unable to resolve your issue.
Finding the Right Payment Solution For Your Business
Every business is different, so it’s important to choose a processing company that gives you options that fit your business’ needs. Subscription-based merchant service providers are great at providing unique options and solutions since they can point you to a pricing plan that makes sense with the number of transactions you process monthly.
Stax offers three transparent plans that vary based on a flat monthly fee and a small transaction fee. Stax doesn’t have any hidden fees or markups. This allows for more flexibility when it comes to credit card processing for your business.
Why It’s Important To Use the Right Credit Card Processing Machine
Using the best credit card machine is essential for any business. Implementing the right credit card machines in your business will ultimately provide you with increased security and dependability when conducting transactions for your valued customers.
Stax Is the Solution
Whether you need a virtual terminal, a Smart EMV terminal, or a mobile reader, you can find a plan and credit card processing solution that fits your business with Stax. There are no hidden fees and no catches. Contact Stax to see the many different ways you can be increasing your revenue with the right payment processing solution.
Request a custom quote to see how the Stax all-in-one platform will work for you.