How to Choose the Right One for Your Business
Choosing the right payment processor between PayPal, BlueSnap, Stripe and others for your ecommerce business is essential to your success. There are many different processors available, and each one has its own set of features and benefits. So, how do you know which one is right for you?When choosing a payment processor, you need to consider the following factors:
The Type of Products or Services You Sell. Not all payment processors are created equal. Some processors are better suited for certain types of businesses than others. For example, if you sell physical products, you will need a processor that offers a card-present rate. If you sell digital products, on the other hand, you will need a processor that offers a card-not-present rate. So, be sure to choose a processor that is compatible with the type of products or services you sell.
The Size of Your Business. Do you run a small business with only one location, or are you the owner of a multi-location chain? Large businesses will need a payment processor that can process high volumes of transactions per day, while smaller businesses may be able to get by with less robust processing needs. Take this into account when choosing your payment processor.
Your Processing Needs. What kind of features do you want from your payment processor? Do you want it to offer card-present rates only, or would prefer if it also accepted ACH payments? Make sure the processor is compatible with all the methods of payment yo u plan on accepting before purchasing it. You should also consider the amount of customer support you will need. Some processors offer 24/hour customer service, while others do not.
Your Budget. Of course, you also need to consider your budget when choosing a payment processor. Some processors charge high rates per transaction, while others have low processing fees. Do your research and find the best processor for your needs and your budget.