5 Ways to Save Money and Get More out of Credit Card Processing


Small business owners across the US are constantly being solicited by credit card processing companies via telephone, postcard and sales visits with offers of "The Best Rates", "The Lowest Rates", "Free Credit Card Terminals". Many of them are promised there is "No Contract" or that they can "Cancel at Any Time".

These same business owners find themselves paying significantly more after review of their first few monthly processing statements. Sadly, many do not even realize it for months or even years. They have simply chosen to trust their salesperson that their businesses best interests were being protected.

Most of these business owners end up locked into 3-5 year processing contracts with early termination fees of $250 - $750 or more. Many of them are even locked into expensive leasing contracts for 48-60 months on hardware they could purchase for a fraction of the total cost of leasing.

Small business owners are and should be busy focused on what they do best. This leaves them little time to devote to the subject of credit card processing, merchant accounts and rates for accepting credit cards. They want to spend their time and energy developing their business.

These tips will help business owners save time, money and stress no matter who they choose for credit card processing

  1. Learn the Language of the Merchant Services Industry - With such a large and ever-expanding glossary of terms and definitions it may seem a daunting task to understand it all - Here is a great resource from the Electronic Transactions Association - http://www.electran.org/glossary/


  2. Look for a Short Term or Month to Month Contract - If a company is really going to deliver on their promises and provide low rates, great service and access to the programs and technologies business owners need, they won't need a contract to keep a business owner satisfied and loyal. All business owners should ask for and review the merchant applications and program guides with complete rates, fees, terms and conditions before signing.


  3. Customer Service Is Key - In the rush to get the lowest rates and fees many business owners lose sight of other important issues like customer service and support. Be sure to inquire about 24/7 toll-free technical support, local support, sales and customer service contacts numbers and email addresses.

    Remember "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur". - Red Adair


  4. References, References, References - If the credit card processor a business owner is considering can really live up to all the expectations they are setting, there must be at least a few examples of current customers receiving the quality service, low rates and other benefits they are offering. Look for testimonials and contact a few references


  5. Ongoing Review - The most important thing is to ensure that business owners continually review, monitor and audit their processing activity, statements, and costs. Many merchants fall victim to this and simply do not notice when their rates and fees are increased and /or additional fees are added. Just because they have negotiated a good deal now does not mean it will always remain that way. All credit card processing providers should be willing to provide a rate review every 6-12 months. 

    We here at Dependable Solutions would be happy to work with your business no matter how large or small. We strive to service our customers with the best rates & customer service, WITH NO CONTRACTS. Feel free to reach out to us today about how to you can start saving money from a local honest company. 

    Office - 717-806-5429

    Email - info@dependablesolutions.org