Using the low-cost provider comes at the expense of limited product functionality, potential security holes, and lower levels of customer service. In today's competitive environment, take the time to study the best practices of your competitors and understand how your payment system touches your customer and your back-office operations. Taking the lowest-cost route could cost you business.
How should a small to mid-sized business approach payment processing? Greg Hammermaster, president of Sage Payment Solutions, offers 10 things SMBs should know about this field. Hammermaster has extensive experience with credit card and check operations, and has also worked in the sales and business development of commercial card practices.