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5 Questions to Ask Before Choosing a Payment Processor


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Payment processing solutions are a “behind-the-scenes” part of business, and that can make them seem mysterious—or confusing. After all, when payment processing does what it’s supposed to do, you don’t think about it. Transactions just work. And you focus on your work.

So how do you find a merchant payment processor who will enable you to go about your business, confident in the knowledge that your payment solutions are in good hands? Here are five questions to ask before partnering with a payment processor.

1. Can the company address my security concerns?
Look for a company that provides risk management and security tools for every transaction, online or off. Find out if the processor is up-to-date in the latest fraud prevention and control practices. Finally, be sure to ask if the company is Payment Card Industry (PCI) compliant. This data security standard outlines strict rules for best practices, documentation and vulnerability scans.

2. Does it offer the products and services I need? How can I find out?
A good payment processing solutions provider is a one-stop shop, offering a range of products and services that can be tailored to your business. Ask for a no-cost, no-obligation analysis to learn if the solutions you’re considering will really save you money. And remember, as your business grows, your processing needs may change—choose a partner who will be able to accommodate that growth.


3. Is there personal support?
If you have a technical problem or question, can you get expert help? What if it’s 10:00 p.m. on a Friday? Access to around-the-clock support is key in choosing a payment processor, as is your ability to get help selecting and implementing solutions.

4. How does my bank figure in to this?
Choosing a processor who has an existing partnership with your bank is an easy way to guarantee seamless links between your transactions and your accounts.

5. Is the processor local?
As a Northway customer, you know the value of banking locally. Working with PowerPay, an independent, New England-based payment processing solutions provider offers similar benefits: personal service, in-depth understanding of the region, charitable efforts in New England communities and pride in connecting local merchants to world-class solutions.

Source: Power Pay

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