How to choose credit card services for your bar
There are many companies that provide credit card services in Texas. This means that finding the right one can be a daunting task. You need to look for a merchant provider that looks out for your unique needs. Here are some key points to consider:
- Find a provider that will offer you a price guarantee. With so many choices, you can’t be wasting your time on companies that never intended to save you money.
- Heavy baseline fees. Watch out for companies that want to penalize you when sales are low. You should seek out a provider that has very low fixed fees.
- Make sure the agreements are in plain English and do not contain any hidden fees.
- Avoid any providers that want to lock you into a long-term contract. Any deal should be month to month. You should be free to leave without penalty if you become unhappy.
- Next day payments. You shouldn’t have to wait weeks to get paid. Make sure the merchant can make timely payments to ensure you maintain healthy cash flow.
- You should have a provider that can offer reliable support. Representatives should be in the United States, or better yet, right here in Texas.
- Finally, its equipment is very important. Make sure that your provider is able to supply you with the latest equipment.
Cutting Edge Equipment
Having effective equipment helps your business run successfully. Customers do not want to be waiting around to pay. You should have reliable devices to process credit card payments at your business.
This could range from simple tablet-based swipers to full-sized POS systems. It all depends on how large your bar is and the type of customers with whom you deal. You should not buy merchant services from a salesperson. Instead, you should be dealing with a provider that functions as a consultant. The ideal provider will help you identify the unique needs of your business. There is no one size fits all when it comes to credit card services. There is a wide range of equipment and software for processing card payments. And it is important that you select what works best for your unique business.
Tiered Pricing or Interchange: Which is right for you?
There are two ways a merchant service provider may charge you. You could either be on a tiered plan or an interchange pass-through plan.
On tiered pricing, you may notice that your merchant statements are difficult to read. This is because all the transactions are lumped together. You only receive two pieces of information. The number of transactions and the total charge for merchant services. You receive no information about the details of these transactions.
The other option is interchange pass-through. This is pricing based on the wholesale prices with which all US credit card processors work. This wholesale price is set by MasterCard Worldwide and Visa USA. They use this to authorize and settle credit card transactions. This becomes the baseline price to which all credit card processors refer. Make sure that your processor is billing you based on the official interchange price.