Selecting The Right Processing Type For Your Business

Tuesday, October 6, 2020

The credit card processing industry has never been more exciting than it is today!  Change is around every corner.  COVID, Government intervention, security concerns & mobile technology have altered the industry forever.  So how does a business owner determine what solution is the right one for their business?  That is where we come in!  Our team is dedicated to helping merchants navigate the dicey waters of the Merchant Services Industry with great staff members and lots of great education!  Here are some of the most important factors when selecting a solution for your business: 


Volume:  If your business is seasonal or you process less than $1000 per month in processing, you should consider options that have few fees, obligations or constraints as possible- many of the solutions designed for lower volume merchants tend to have higher percentages for your transactions so paying careful attention to the bottom line and 'break even' points is very important.


Transaction Size:  Consumers tend to use their credit cards differently with different sizes of transactions.  Small tickets (between $1 and $200) tend to be paid with check cards.  Transactions over $200 are routinely paid for with Rewards cards.  Because the price to process different card types vary- it is important to consider the types of cards your business might accept before determining which way to process the cards. 


Business Type:  Business to Consumer transactions are priced differently than Business to Business transactions so just like the transaction type, considering who your clients/customers are will impact the way you take cards. 


Card Present/Card Not Present:  Any transaction that is processed without physically swiping the credit card will cost more to process than card-present transactions.  Making sure you are considering risk, the security of the transaction data as well as the costs associated with either swiping or key entering transactions is an important part of deciding how to process the cards.



Emerging/Special Market Pricing:  Some businesses have special categories arranged by the card associations.  Understanding how those special categories impact your business is an important part of selecting the right process.


Level II/Level III Pricing:  The card associations have also arranged for special pricing in the Business to Business markets by requiring additional data in order to get reduced pricing.  Having a good understanding of these special requirements can reduce processing fees for businesses as long as the cards are processed thru a system that can add the Level II & Level III categories.

At Total Merchant Concepts, we have solutions for all merchant types!

  • Month to Month Options for ALL Businesses
  • Flat % Pricing for Limited or Seasonal Use Merchants
  • Smart Phone & Mobile Devices for Both Limited & Robust Users
  • Terminal Based Options for Retail Businesses
  • Online Options for Web-Based Businesses (Including Instant Websites using TMC Shop Now)
  • Level I & Level II Pricing for Qualified Businesses
  • Emerging Market Pricing for Qualified Businesses
  • Non Profit Programs for Community Service Organization 

If you need assistance determining the right option or device for your business, give our team a call.  As an Integrity based business, it will be our pleasure to steer you in the right direction!

Cheri Perry 10/6/2020

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