Online Credit Card Processors

If you’re in business online, sooner or later you’re going to have to get to grips with online credit card processors. Whilst everybody is familiar with Paypal or Google Checkout, these aren’t the only solutions – they may not even be the best solutions for your business. But before you dive headlong into the world of online credit card processors, you’ll need to do your research. The ability to take payments safely and securely is possibly the most significant investment you’ll make, after all.
The following guidelines should help you to make an informed choice.
1. Reputation
There’s no shortage of online credit card processors waiting to take your business. But as in all walks of life, some are better than others. Scan the internet for customer reviews and feedback. Small or large, retail or wholesale, your online business depends on a credit card processor who is stable and reliable and trustworthy.
2. Security
Following on from the above point, how secure are your transactions going to be? Consumers have learned the hard way that their details can into the wrong hands. Nobody is going to enter their precious credit card number into a site that even looks insecure. Again, do a thorough internet search for reviews and feedback. Ask any online credit card processors on your shortlist precisely how they can guarantee your customers’ security. No reputable company will mind you asking this.
3. Fees
Online credit card processors are in business to make money, just like you, and the way they do this is by charging a fee on every transaction. This is usually a percentage of the transaction price. Shop around – the percentage can vary quite dramatically between companies. However, be advised that “cheapest” doesn’t necessarily mean “best”. Read all small print, and trust your instincts. The golden rule in life and in business is if it sounds too good to be true, it probably is.
4. Restrictions
Read the small print. Online credit card processors typically place restrictions on the types of transactions they allow – limiting the number of sales in any given month, for example. Although this might not be so much of a problem when you’re starting out in business, it can seriously hurt later on as your business grows.
Also look out for online credit card processors who refuse to deal with certain types of business. Adult sites, gambling sites or pharmaceutical sites often find it difficult to find reliable payment processors.

In the end, if you’re serious about running an online business, you need an online credit card processor. Finding the right one just requires a little time and effort in research.