24 Questions to Ask ANY Credit Card Payment Processor

Before you sign up with a new Credit Card Payment Processor for your business, you have to evaluate the sincerity of those offers. Usually the person that initially contacts you is just a salesman and not an expert analyst. You will need to get in touch with their customer service or account evaluation department in order to get the answers to these questions.

Have a paper pad and pen or pencil ready prior to beginning and take notes of your discussion. Do not be afraid to ask these questions.

The 24 questions that you should ask of the account analyst are as follows;

1. What is your legal registered name?
2.  Are you a W-2 employee of the company you represent?
3. What are your qualifications for selling Credit Card Processing?
4. When I call Customer Service, where will I be calling?
5. What is the average length of service among your Customer Service reps?
6. Who is in charge of Customer Service?
7. Who will provide service at my business?
8. What will your service do to help me prevent a data breach?
9. How will your service protect my business in the event of a data breach?
10. How will your fees for my business change when the Credit Card companies change their interchange  fees?
11. How does your monthly statement make it easy to understand all your charges and fees?
12. Will my account be available online?
13. How much information can I access online?
14. How will I be charged for credit card processing  equipment?
15. What is the replacement policy if the credit card processing equipment malfunctions or fails?
16. Is there a fee to leave if I am not happy with your service?

The following questions are each two-fold, ask for each of the following if a per cent or per item fee applies;

   17.   Swipe rate, and which type of credit cards (Rewards, Corporate, ect.) qualify?
   18.   Swiped check / debit card with signature?
   19.   Key entered Visa / Mastercard credit card?
   20.   Downgraded or non-qualified transaction?
   21.   PCI compliance fees (Data Security)?
   22.   Supply charges?
   23.   Charge-back fees?
   24.   All other monthly service fees (Verification, Minimum Volume, Gateway, Statement)?

If you didn't get a proper or complete response to any of your questions, go back to points of confusion and get clarification.

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