Does Software Limit Credit Card Processing Options?

We recently worked with a client who was told by their current credit card processor three years ago that the software used by the client could only accept credit cards through them.

Unfortunately in this case, what the processor told their merchant couldn’t be farther from the truth. After the Processing Brokerage called the software manufacturer it was discovered that several processors have always had the ability to process transactions through their software. Though there are cases of preferred vendor relationships between credit card processors and software providers, you shouldn’t always assume that your credit card processor is telling the truth.

Why does this matter to you? Some credit card processing sales representatives will tell their merchants anything in regard to not only keeping them as a client but to also continue in charging an exorbitant rate. The following are some simple steps to follow in making sure this doesn’t happen to you:

1.) Make Contact – Pose as a new client and talk to their technical support about credit card processing options.

2.) Ask – Specifically ask what credit card processor’s can connect to their software. (the next steps assumes the answer is not what you are looking for).

2.) Large Processor/Acquirer – Tell the technical support that you are currently using First Data Merchant Services (FDMS) or Chase Paymentech (CP). FDMS and CP are two of the largest processors/acquirer’s in the industry and there is a good chance a software provider will not want to exclude such a large client base.

3.) Ask again – Specifically ask if they have anyone using either FDMS or CP through their software? Many times, the answer that comes back my surprise you. Though their could be some additional code that is needed, someone more than likely has already forged a path into the gateway of these two processors.

4.) Stability – Before getting too excited, ask if this option is stable for others to use.

Though their may be additional cost involved with programming, the potential savings due to a significantly reduced rate of credit card processing may be in your best interest.

Steve Williams – Processing Brokerage
www.processingbrokerage.com

Tags: Credit Card Processing, Merchant Account Services, Processing Brokerage

This entry was posted on Wednesday, September 23rd, 2009 at 8:25 am and is filed under Credit Card Processing FAQ. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.