Merchant Credit Card Processing: Provider Questions

Sales Organization (SO) or Actual Processor?

How long sales person talking to you been in the Credit Card Processing Business (Makemi 10+ Years)?

How long has the company been in business?

How many merchant accounts set up, in thousands?

How large? In the top 25%, 50% , 75% or top 5 largest? (Size is important)

What was their sales transaction volume processed last year? Less than $100, less than $500 million, less than $1 billion, less than $1.5 billion, less than $2 billion or other? (Bigger is better)

What equipment available? New? Refurnished? All platforms?

Do they offer lower cost “Refurbished” equipment manufacturer warranties?

Do they maintain an equipment inventory for shipment now or broker for others?

How many employees does the processor or SO have?

How many processors do they use (1, 2, 3, 4 or more)?

How many manned departments do they have with names and hours of operation/contact times (Admin, Sales, Support, Shipping, Deployment, Technical and/or other)?

How many SF is their office and where is it located and in what part of the community of their location? Bigger is better.

How many new accounts average per month for the last year (the largest is 900-1,000 per month)? Bigger is better.

Are they part of the BBB?  What is their BBB rating?

Do they have a specific assigned account representative?

What days and hours are they open?

If they will not take you will they help you find another provider?

Do they have a real low price guarantee? Do they stand behind it?

Do they have a cancellation fee in their agreement? Do you understand it?

Do they require a contract, like two-years, and do you understand the fine print?

Do they charge an annual fee?

Are there any other fees? Do you understand all disclosed and undisclosed fees and the conditions under which they apply?

Do they charge an application or processing fee?

Do they charge a programming fee?

Do they charge a set up fee?

Do they have a printed fee schedule?

Will they let you see the contract before you sign to think and study?

Did you search the internet for them and their competition?

Have you asked your neighbors or other small business owners whom they use and how their cost, service and satisfaction is?

Do they offer small business a loan program?  How much? Criteria?

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