If you own a business in Bourbonnais or Kankakee Illinois, or are about to open one, you already know that most of your customers will purchase your goods and services by using either credit or debit cards. Because checks are used less and less frequently, soon almost all transactions will be made by plastic. We’ve been hearing about the cashless society for decades and it’s finally here, but now the question is, what’s the best way to set up Credit Card Processing in Bourbonnais and Kankakee Illinois for your new or existing business.

For most businesses, it’s very easy to set up a merchant processing account, but if you choose the wrong partner, it will be a costly and painful mistake that can affect your business for years to come. One of the first steps is to be sure that you are being charged on the appropriate pricing model.  As an example, quick service restaurants with a large number of small transactions should avoid pin debit transactions, but businesses with high average transactions, like automotive repair shops that usually have a much smaller number of transactions, should encourage customers to use their debit cards and PINs.

Tips to help you make the best choice for Credit Card Processing in Bourbonnais and Kankakee Illinois:

• Unless you expect credit card sales of less than $3,000 a month, the only pricing model you should consider is what is known as the “Interchange Plus” model. What this plan offers is access to the wholesale, itemized network fees that are passed along to all processors from Visa and MasterCard (Interchange), along with a modest, agreed upon up-charge for their services. A reasonable mark up should typically be no higher than 1/2% of sales volume (or 50 basis points), depending upon factors such as gross sales, length of time in business, type of business etc. Sometimes, the up-charge can be much lower.
• There is never a reason to agree to long terms contracts or Early Termination Fees (ETFs)! As the processing industry has matured and become more competitive, leading processors will not insist on unattractive terms such as these. You should only consider agreements with processors that will let you cancel at any time, without being required to pay any kind of ETF. If the processor is as good as they claim to be, you’ll have no reason to go elsewhere.
• Always insist on free equipment! Unless you need a Point of Sale POS system (POS), or some very unique solution, never, EVER buy, rent or lease equipment. Terminals are inexpensive, and a processor that is confident that they can earn and keep your business over the long term will be happy to provide free terminals or pin-pads.
• Be sure you work with a trustworthy sales rep that can provide references, and that will be available to help you out over the long term. Dan Emme is the Real Merchant Solutions’advocate offering Credit Card Processing in Bourbonnais and Kankakee Illinois, and meets that criteria exactly.

Your Bank is Not a Processor

When you open your business, and set up your bank accounts, the friendly folks at the bank will do everything they can to guide you to choose their bank for their processing needs. If you need Credit Card Processing in Bourbonnais and Kankakee Illinois, it might seem like logival to accept their offer, but that’s almost always a mistake. In most cases, the bank won’t tell you that they’re just middlemen, adding extra costs that you’ll wind up paying for. In the Bourbonnais and Kankakee area, for example, Bank of America and Sun Trust can cost a business thousands of dollars in unnecessary fees each year, and are among the worst offenders. It is not uncommon for businesses with monthly sales of $100,000 to pay those banks as much as $10,000 to $15,000 more to accept credit cards each year than if they worked with a dedicated processor.

Merchant Advocacy

No matter what your business is, the best practice is always to work with an unbiased expert. When searching for Credit Card Processing in Bourbonnais and Kankakee Illinois, the Merchant Advocates at Real Merchant Solutions will work with you and some of the largest and most well thought of processors in the country to compete and bid for your business. Because Real Merchant Solutions is not a processing company, we always offer a full menu of competitive choices from major processors that don’t require contracts or equipment charges, and if you need other services like POS systems, Website Design and Management, or Internet Marketing Services Dan Emme can help with that as well.

Whether you’re getting ready to open a new business and need Credit Card Processing in Bourbonnais and Kankakee Illinois, or if you already accept credit cards but think you may be paying too much, click here to get a free quote, or just give our office a call at 800-551-0850, ext 21. A local Merchant Advocate will be in touch to review your needs, look after your best interests, and be sure you receive the service and pricing you’re entitled to.

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