Industry Comparison: 4 Features That Set the Best Credit Card Processors Apart

In the United States alone, there are an estimated 33.8 billion credit card transactions processed each year. Let that sink in for a moment. That’s over 90 million transactions per day, and 3.8 million per hour, and that’s a whole lot of swiping and tapping, folks. Behind every transaction, there’s a credit card processor making sure things run smoothly. For the unfamiliar, credit card processors are the messengers that send credit card information between businesses and credit card associations (like VISA, MasterCard, or American Express).

For small business owners, picking the right credit card processor is critical—and can make all the difference in a great experience for your customers. But with so many options out there, how can you know which processor is right for your business?

We’ll make it easy with four features you should look for when doing a credit card processor comparison.

1. Responsive Payment Forms

We’ve said it before and we’ll say it again—customers want convenience. When it comes to the digital payment experience, convenience is all about giving customers a payment form that’s easy to access and use on any device. They don’t just want to pay with a credit card in store—they want to pay on their desktop, mobile phone, or tablet. That’s why we developed Checkout.

Our Checkout solution provides a responsive payment screen that adapts and looks consistent across any device.

2. Bank Agnostic Gateway

Merchant accounts can be a pain to set up. And once you have one in place, you probably don’t want to go through that process again. Yet, some credit card processors won’t be able to connect to every bank and may ask you to open a new account. Choose a credit card processor that already integrates with your existing bank.

At Bambora, we’re proudly bank-agnostic and can connect to nearly every financial institution in Canada and the United States. Don’t have a merchant account yet? We can provide one too.

3. Opportunity to Grow Your Account

If you’re a small business now, that doesn’t mean you will be one forever. One of the primary goals of most businesses is growth — so why would you lock yourself into a contract that limits you? At Bambora we get that, and we can easily adjust your account when you outgrow it.

As a small business, you start out with a PSP (payment service provider) account. But if you start processing higher volumes ($100,000 a year on Visa, $1,000,000 on MasterCard, or $500,000 on AMEX), an ISO (independent sales organization) account may be better suited to your needs. Bambora grows with you, so you can make the transition to a new business model (and better fees) without having to switch providers. That’s something most of our competitors just can’t offer.

4. Great Customer Service

You’re busy, and so are your customers. Delays can mean a lost sale, so when you need support, you need it right away. Top credit card processors will have a well-established customer service team in place to answer your questions at any hour. When comparing processors, look for candidates that offer support in your region and time zone. For your convenience, your top candidate’s support team should also be reachable across multiple channels, like phone, email, and chat.

A credit card processor comparison can help you pick a service that will support your business and help you grow. Look for processors that blend right in and work alongside you, with responsive payment forms, the ability to work with any bank, and are easily accessible when you need support.

Want to cut to the chase? Contact one of our sales representatives today!

Image credits: Stock Rocket / Shutterstock Inc.

---------

Did you like this and want more like it? We can deliver more straight to your inbox!

Cookies

Bambora use cookies to give you the best possible experience when visiting our website. This Cookie Policy explains what cookies are and how Bambora uses them. By continuing to browse or use the Bambora website, you agree that we can store and access cookies as described in this Cookie Policy.  For further information about how we collect and use information about you, please refer to our Privacy policy.

Cookies are small text files that are stored on your computer and are used to track what you are doing on the website. 

There are two main types of cookies that we use:

  1. A persistent cookie, which is stored on your computer when you access the website and remains there until you erase them, or they expire.
  2. A session cookie, which is stored temporarily in the computer memory when you browse the website. The session cookie disappears when you close your browser.

Bambora use cookies to:

  1. Improve the user experience of the website, by for example by adapting the website to reflect your requirements, choices and interests.
  2. Provide information for website statistics regarding the use of the website.
  3. Follow advertisement in media to adapt our services to help you receive more relevant offers.

Some cookies that Bambora uses are strictly necessary for the operation of the website, enabling you to move around the website and use its features. For example they help support the structure of the pages that are displayed to you, help to improve navigation and allow you to return to pages you have previously visited.

 

Bambora also use cookies from third-party providers. These are used mainly to analyze user behaviour with the purpose to improving user experience, and to offer more relevant advertising.

 

You can choose if you want to accept cookies.

If you do not want to accept the use of cookies, you can adjust the system settings in your browser to delete all cookies that are already on your computer and, in most browsers, to prevent them from being placed. Certain functionality on our website can only be used if your browser allows cookies and may not work if you choose not to accept cookies or adjust your browser cookie settings.

If you have any questions about our use of cookies, please contact us.

We are open for business!

Welcome to the world of payment solutions. Choose your country and start accepting payments from customers all over the world.