The tools and software you choose to run your business are extremely important. They can either help you grow your business, or cause roadblocks down the line. That's why it's important to weigh your options and choose the technology that will best help your business succeed. When you're looking at which payment provider to use, there are a few questions to keep in mind throughout your search.
1 WHAT ARE THEIR RATES?
This is arguably one of the most important questions to ask. The rate charged per transaction will directly affect your bottom line, so take the time to research competitive rates, and choose a company that offers a low payment processing fee.
2 WHAT FEATURES DO THEY SUPPORT?
From creating and sending invoices, managing brand loyalty programs, to creating gift cards, there are many other functions a payment provider can perform for your business. Think about the payment-related tools your business will need, and make sure your provider offers those tools.
3 IS IT SCALABLE?
Think about where you'd like your business to be in 5 years from now. Are you planning on expanding your territory? Opening more locations? Franchising? If you plan on growing your business, make sure your payments provider can grow with you.
4 DOES THEIR TECHNOLOGY FIT INTO MY CURRENT BUSINESS TOOLS?
Having a payments provider that integrates with your existing tools and software like your CRM, website, marketing software, etc, won't just make your life easier. It can also provide important business data that can help you make informed decisions. For example, a payment solution that ties into your marketing software can give you data on what campaigns are performing best, allowing you to make strategic decisions that result in a higher ROI.
Choose Your Payment Provider With Confidence
Finding a payment provider can be a daunting task. Start your search for a payment provider with these questions in mind to make the best choice for your unique business.