Free Credit Card Processing? The Facts!
Surely this can’t be true?
How could any company offer free processing without going out of business?
You’re right to be skeptical, as in this case, free doesn’t actually mean “free.”
Sure, you might get a free credit card processing machine or even be able to process credit cards free of charge for a certain period of time, but after a while you will have to start paying.
Not only that, but many of the companies offering these free deals, start to charge you very high rates once you are locked into a contract. These rates are way above the industry standard, which means this can seriously start to affect your bottom line.
Unfortunately, canceling these contracts is often impossible, unless you are prepared to pay a hefty fee to be released.
So do this mean you shouldn’t take advantage of free credit card processing offers?
Not exactly. The most important thing to keep in mind is that you have to read the terms and conditions to see what happens once you are locked into a contract.
For example, if a company is offering a free credit card machine, with no rates for the first month, and then very competitive rates for the remainder of the contract, then this is actually a very good deal and should be considered.
You can find out more information about free credit card processing by visiting http://www.paymentsavvy.com/Pay-N-Seconds-Convenience-Fee-Solutions
Ultimately though, it’s a wise idea to never get tied in to a long term contract. The reason? Because if you are on a monthly rolling contact and you find a cheaper deal elsewhere, then you can quickly get out of your obligations and go with the other company.
The credit card processing market is changing at a rapid pace, with new companies constantly entering the scene. This means you should always keep a close eye on what is currently being offered on the market, and never get complacent with your current provider.
If you are thinking of switching providers, then before you make the change, contact your current provider and inform them of your plans. They may be willing to negotiate if they value your business, so you can work out at even cheaper deal.
Ultimately though, there is no place for loyalty in the credit card processing world. If it’s time to jump ship and go elsewhere, don’t hesitate to do so.