42% Jump in Complaints Against Credit Card Processing Companies Prompts Concern from the Better Business Bureau

 

Chicago, IL  -  Selecting a credit card processing service is a very important decision for a business and can be a vital component to the overall success of the business. The Better Business Bureau (BBB) has seen a 42% rise in complaints against credit card processing services and advises business owners to do their homework before choosing a merchant processor.

 

Complaints are up for this 12 month period compared to the previous 12 months-110 now as compared to 77 or an increase of 42%. One of the most important ways to make your business thrive is to please your customers and, many times, that means offering a variety of payment methods.

 

 Accepting credit cards can be one of the options available to customers along with using a debit card or writing a check. By offering these options businesses are opening the door to increased revenue,” said Steve J. Bernas, president & CEO of the Better Business Bureau serving Chicago and northern Illinois.  “However, before selecting your merchant processing service, it’s imperative that you do your research to avoid putting your business and its success at risk.”

 

The BBB offers the following advice when selecting a merchant processing service:

 

Ask around. As with any important business decision, make sure to get at least three estimates and check the BBB Business Review at www.bbb.org of the merchant processing service. It may also be worth asking other fellow business leaders what service they use to get a feel for its track record.

 

Know where to turn. Make sure the merchant processing service has a solid support team. Can you contact them 24 hours a day? This is very important to business owners who are trying to process a card outside of the typical business hours. In any case, technical support is a must and it’s vital to your business’ success to make sure that the merchant processing service you choose has it.

 

Try them out. Don’t settle without a trial period. Make sure that the merchant processing service you choose has a 100 percent money-back guarantee before selecting them. See how the service works for your business. Did they keep every promise that they made to you?

 

Sign a “month-to-month” agreement. Never commit to a long term agreement, make the processor earn your business each and every month.

 

Get a large list of references during the proposal process. Be sure to actually call the people on the list. The references should be local and in a similar industry type. Processors that won’t provide this list throw up a red flag.

 

Make sure every penny you spend is necessary. If you have a question regarding a fee that you were charged, ask! Staying competitive with other merchant services is the name of the game for these processors so they will want to keep you happy. 

 

For more business information you can trust, visit www.bbb.org