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helps key decision makers like you find the solutions to everyday business matters. From executives
to mom and pop shops, those in the know, know HOO!
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HOO's Hot Links
Credit Card Merchants
A place to start your hunt for credit card services,
this online directory guides you with quick links
to a number of providers with varied benefits and
niches. www.cardservices.com
More from HOO’s Hot Links:
- 1st American Card Services
Established in 1986.
www.1stamericancardservice.com - 1st National Merchant Services
Processes nearly 11 billion transactions. annually.
www.1stnationalmerchant.com - Card Accept
Processing services are provided by a registered
ISO/MSP with Wells Fargo Bank.
http://cardaccept.com - Citibank
Services are provided by First Data Merchant
Services Corporation.
www.citibank.com/us/cards/merchant - Federated Payment Systems
Offering comprehensive payment solutions.
www.federatedpayments.com - Merchant Express
Established 199 offers 100% guarantee.
www.merchantexpress.com - North American Bancard
Organizes processing needs by business type.
www.nabancard.com - Paynet Systems
A registered ISO/MSP of Wells Fargo.
BankAmerican Express® and Discover® require
separate approval.
www.paynetsystems.com - Sage Payment Solutions
Electronic Payment Processing.
www.sagepayments.com
HOO Know-How
Credit Cards are swipe for business
What swipe is right for you? Setting up a
merchant account to accept credit and debit cards
may look daunting at first. The choices are many
and the variables are vast. Here’s what HOO
knows about getting started.
- Get familiar with the lingo. You’ll be hunting a company that gives you the best deal on establishing and maintaining a merchant account that fits your business. You can compare apples to apples best when you know what you’re comparing.
- Get your facts in order. A merchant services provider needs to know a few things about you and your business. They’ll do a background check and credit history review of the business and officers listed on theapplication, plus credit references from your suppliers. Make sure you know what your history says about you before you get started. You’ll also need to identify how you will collect credit card information -- in person, over the phone, etc.; what types of cards you want to accept; what additional services and equipment you may need; the average transaction amount; your expected monthly processing volume; and finally, whether your type of business traditionally has chargebacks or returns from customers.
- Check the web and your local bank for options. There are hundreds of companies offering what you want and competing for your business. Let them sell you on the benefits of their service.
- Compare and take notes. Price is important– every percentage and fee you pay reduces your profit, but it shouldn’t be what drives your decision. Identify what’s most important to you and rate from there. For example, exceptional customer service 24/7 may be more important than rate.
- Read the contract. And it’s just as important to understand it – from fees to termination clauses – to avoid pitfalls and unpleasant and costly surprises.