Credit card processing companies are a vital resource for small businesses, helping them accept payments and direct customer funds to their business checking accounts. While it might seem like there are a lot of payment processing options, it’s important to do your research and find a company that fits your needs.
Elavon
Elavon offers a range of services to help businesses accept and process payments. The company’s suite of hardware and software solutions includes point-of-sale (POS) terminals, contactless payment options, tablet points of sale, virtual terminals, and more.
Its restaurant solution allows restaurants to streamline their ordering and payment processes, reduce wait times, and improve customer service. The company also provides mobile POS solutions and online ordering and payment systems.
The company offers 24/7 phone support and dedicated account managers. It also offers a free Elavon Connect dashboard that includes statements, product alerts, and account management tools.
However, the company doesn’t provide pricing information and has received a number of complaints about surprise fees, holds on merchant funds, and unexpected account closures. These issues make it difficult for businesses to compare Elavon with other payment processors.
Consumer reviews also note that Elavon’s prices change on a client-by-client basis, which can result in unexpected fees that could negatively impact business performance. In addition, many users have experienced delays in settling or depositing transactions, which can lead to late fees and lost income.
Although Elavon is a US-based company, its international presence helps it serve a wide range of merchants. This means it can offer solutions to small, local businesses as well as large multinational companies.
In-person POS terminals can be found in tablet or countertop form factors, and the company’s hardware includes Poynt smart terminals that work with contactless cards. In addition, the company’s e-commerce solutions are compatible with most e-commerce platforms and allow customers to check out through digital wallets.
The company also offers a range of solutions for healthcare, hospitality and travel, and entertainment businesses. These include secure point-of-sale solutions for table service, takeout, and concession-stand food services. Electronic check services and gift card acceptance are also possible with these solutions.
Businesses that accept credit and debit cards may have an obligation to comply with industry, card brand, and regulatory data security standards. Failure to meet these requirements can result in fines, additional fees, and a loss of revenue. To help ensure compliance, Elavon can offer state-of-the-art security solutions that protect transaction data both in transit and at rest with encryption and tokenization.
Global Payments
Global Payments is a large and respected payment processor that offers a variety of services. These include mobile solutions, POS systems, access to virtual terminals and payment gateways, prepaid programs, gift and loyalty options, marketing and analytics, payroll and HR, and business loans.
In addition to offering a range of payment processing services, Global Payments also provides a wide range of support tools for its clients. These include 24/7 telephone and email support, a customer portal, a merchant forum, and developer resources.
The company’s website is quite sparse on details about pricing plans, account fees, and contract terms, relying instead on sales representatives to disclose the information. This makes it easy to find yourself paying more than you should for your business’s credit card processing needs if you don’t carefully review all the fine print on your Global Payments contract before signing up.
Unfortunately, many of the complaints we’ve seen about Global Payments come from small businesses that have been misled or overcharged by their sales representatives. In particular, we’ve seen a lot of merchants complaining about excessive PCI non-compliance fees, which cost them hundreds of dollars each month.
Additionally, we’ve also seen many complaints about Global Payments’ poor customer service, especially with regard to account management. This is a problem that’s common across the industry and can be a real headache for merchants, particularly when it comes to resolving issues.
While Global Payments has made a few improvements to its customer support over the years, we still see a fair number of complaints about how poorly the company handles customer service calls and emails. This is a major concern for any payment processing company, but especially so when dealing with small businesses.
In a bid to improve its overall reputation, Global Payments recently started assigning each new account to a dedicated account manager. However, a growing number of users are voicing concerns about how this changes their overall experience. They say that they often have to wait for a customer service representative to approve a request before it can be completed, which can result in lengthy delays.
Intuit
Intuit, which is headquartered in Mountain View, California, is a financial services company that offers a variety of software products and online services. The company’s primary product is TurboTax, which is used to prepare tax returns and other documents. It also offers other products for consumers, businesses, and self-employed individuals.
While the company is headquartered in California, it has operations throughout the United States and Canada. Its customers include small businesses, self-employed people, and accounting professionals. Its products and services include QuickBooks, Quicken, Xero, Mint, Credit Karma, ProConnect, Mailchimp, and ImpotRapide.
Intuit also offers a range of payment processing services, including billing and reconciliation. If you want to know more about these services, visit the Intuit website.
Among the company’s most popular software products are QuickBooks and TurboTax, both of which provide users with the ability to file their taxes. Its other products include Payroll, which allows businesses to pay their employees and taxes electronically.
The company’s most successful business model is its free tax filing program, which Intuit uses to entice users to pay for its other products. It has done this by using a variety of methods, such as “dark patterns,” or design tricks that encourage users to click on a link and then pay for something they weren’t intending to buy, former employees say.
This strategy works because Americans’ anxiety about the tax filing process is so powerful that it usually trumps any frustration they might feel with the product, according to several former Intuit employees.
One of the ways it did this was by adding code to the TurboTax landing page that would essentially hide the Free File section from search engines like Google, so users would have to hunt for it. Another tactic was to use a paywall only when a customer was deep into the tax filing process, which meant they would have to start over with their data and fill out a new form.
The company has been under fire from the IRS for its treatment of Free File, and it has faced a number of investigations into its practices. The government has backed Intuit in the past, but the agency is now taking a close look at the tax preparation industry more generally.
Wells Fargo
If you have questions about your account or need assistance with a financial issue, Wells Fargo has customer support available online and in person. You can also use its social media pages for rapid assistance on Twitter and Facebook.
For small businesses, Wells Fargo offers business banking and credit cards. These are a great way to save money on your expenses while earning rewards.
The company also offers online resources and free financial education tools.
The company has a long history of offering a wide range of banking products and services to its customers, including credit card options and merchant processing. It is a leader in the industry, so you can count on its support for your business’s needs.
With this bank, you’ll be able to accept credit and debit cards at your retail location, online, or through mobile payments. Plus, you can enjoy the security of EMV chip technology for greater protection against fraud.
Its payment systems are designed to make your life easier with features like next-day access to your funds and simplified pricing. The company also offers automated straight-through processing, in which you send virtual card payments directly to your suppliers’ banks. This can help your business get paid more quickly and eliminate paper checks, which can be costly for your business.
When you are a new business and want to start accepting credit and debit cards, you’ll need to purchase point-of-sale (POS) equipment. You can also lease a credit card machine from Wells Fargo, which can be a great option for some smaller companies.
But be wary of merchant services fees, as they can vary based on the volume of transactions you process each month. You might pay a monthly fee, a per-transaction fee, and a charge for the software used to run your hardware.
You can also find information about fees and rates in the fine print of your merchant service agreement. In addition, you should be aware that some aspects of your merchant service program are outsourced to third parties, which can add to the cost of your services.
