How do I Choose the Best Merchant Account Software?

In order to choose the best merchant account software, you must first determine the criteria the software must meet. Each business has different needs for processing credit cards, which means that the best choice for one business might not be the best option for another business. Some things to consider when choosing merchant account software are the way the software handles accounts, how easy it is to use, the level of customer support provided and the software's price.

Start by reviewing the credit card processing options that each merchant account software solution provides. Some of this type of software allows you to process credit cards by phone, online or by using a credit card terminal at the business. If the option your business needs is not available, then that is not the best merchant account software for you.

For example, a company that makes and sells handmade blankets at craft shows needs software that can process credit cards through a wireless connection at the site of the show. By comparison, a florist with a retail shop location might need physical equipment to process walk-in and telephone orders. An online business might seek out software that links the online shopping cart of its website with the processing software. Other types of businesses might want software that offers different card processing options for different scenarios.

Generally, more than one person is responsible for processing credit card orders, so it is imperative that the merchant account software is easy to learn and easy to use. This ensures that anyone in the company can quickly pick up the process of running credit card orders. Ongoing support is another factor to consider. If there is a problem with the processing equipment or a question arises, determine the type of support the software company offers on an ongoing basis.

A final consideration for choosing the best merchant account software is the cost. Compare the features and benefits of the software with the cost for purchasing the software, and determine whether there are any ongoing costs for maintaining the software. The best merchant account software is the one that possesses all of the features needed for the best price available. Most merchant account software programs have a purchase price as well as charges for using the software. A flat-rate transaction fee and a percentage of the credit card charge are possible ongoing costs a business can incur from its merchant account software.