You want the best solutions for your daily business needs and choosing a payments processor is no exception. There’s a common weak spot for business owners between choosing a customized solution versus what appears the easiest route. Out of the box payment options, like Square, are popular because they promote the simplicity of accepting payments in an industry that’s known for overcomplicating the process. We love simplicity, but we also understand that one size doesn’t fit all when it comes to payment solutions for different business types. We want to make sure you’re in a payments relationship that benefits you the most, not the reverse. So, let’s dive into a handful of reasons why “easy” may not be the best fit for you.
Easy Doesn’t Bring Unique Solutions to Your Unique Problems
Your business is unique, and so are the problems that may arise from day-to-day. Helping customers is your main priority, not problem-solving for a payments malfunction that could get lost in a customer service portal. Not only that, but you need to problem-solve with an account representative who understands that efficiency and speed are crucial for your success. Beware that selecting an easy payments solution implies “you get what you paid for” and could end up in further frustration as you face the unexpected challenges that daily operations entail.
Easy Doesn’t Equal Saving Money
You want to save money wherever possible, and the entire payments industry knows that. You’re likely bombarded with advertisements on the cheapest, most cost-effective solutions via tiered or flat rate pricing. This has a nice ring to it, but it comes with many hidden implications few people are made aware. Paying a flat monthly fee sounds enticingly simple, but you’re probably paying too much. Simplicity doesn’t guarantee a lower rate but can actually lead to paying more than necessary. It’s imperative that you look into the pricing structure of your current processor and compare it to alternative solutions that could save you a lot of money. Check out our article explaining the different pricing options here.
Easy Makes You Susceptible to Fraud
Security is a huge deal when it comes to handling customer’s money and upholding a reputable name in your industry. Choosing the easy payments solution doesn’t always equip you with adequate security measures to prevent hackers and fraud. You need robust security tools including a company that provides the highest levels of PCI compliance, SSL certifications for eCommerce, and an agile response process for suspicious activity.
You’ve invested a lot into your business and deserve to partner with a payments company that is as committed to the success and protection of your investment as you. Easy may sound nice and quick, but is it the right fit for you? If it is, great! But if you’re curious to learn more about a tailored approach to payments that will better suit your company, let us know! We’d love to help you.