Are you tired of your current card machine provider’s poor customer support and high processing fees? It might be time to switch to a new provider offering better services and more favourable terms. However, switching card machine providers can be confusing and overwhelming, especially if you’re unfamiliar with the industry. That’s why we’ve created this comprehensive guide to help you make the switch smoothly and successfully.
Why Switch Card Machine Providers?
You might want to switch card machine providers for several possible reasons:
- Fees that exceed expectations.
- Confusing bills.
- Business changing needs and an outdated merchant account.
- Your current provider is attempting to bind you to a more extended contract.
- Issues regarding compliance with PCI regulations.
- Low level of customer support you receive from your current provider.
- You have a Card Reader, when you need a Card Machine. See our guide Card Machines vs Card Readers: Know the Difference.
- Your card machine and merchant account isn’t appropriate for a small business. See our guide Card Payments for Small Businesses: Everything You Need to Know
The Benefits of Switching Payment Providers
There are several benefits to switching payment providers, including:
- Lower fees: By shopping around and comparing fees from different providers, you may find a provider that offers lower fees and better rates, which can help increase your profits.
- Enhanced services: A new payment provider may offer a broader range of services, such as integrated invoicing, fraud protection, and virtual terminal capabilities, that can help streamline your business operations and reduce risk.
- Better security measures: With recent advancements in payment technology, you may find a provider that offers advanced security measures, such as tokenisation, encryption, and biometric authentication, to protect your customer’s sensitive data better and prevent fraud. One of the most important ways to do this is by complying with the Payment Card Industry Data Security Standards (PCI DSS).
- Increased customer satisfaction: By offering more payment options, faster checkout times, and a seamless payment experience, you can increase customer satisfaction and loyalty.
Avoid these mistakes when switching payment providers.
- Avoid neglecting important information that you are unfamiliar with.
- Take your time deciding.
- Carefully read through the new contract, taking the time to comprehend it fully.
- Refrain from signing a contract without understanding the switching process and timeline.
- Ensure you are aware of who to contact with any questions before signing.
- Do not assume that your new provider will automatically pay the exit fees from your previous one.
- Check you are able to leave your current provider without hefty exit fees or outstanding contractual fees left to pay.
The Steps to Switching Payment Providers
To ensure a smooth transition, it’s essential to take the following steps when switching payment providers:
- Research and compare providers: Before deciding, research and compare different payment providers, including their fees, services, security measures, and customer support.
- Notify your current provider: Once you’ve selected a new provider, notify your current provider of your intent to switch, and ensure that you understand any termination fees and processes involved.
- Transfer customer data: Work with your new provider to transfer your customer’s payment data and information to your new system, and ensure that all information is accurate and up-to-date.
- Test the new system: Before going live with your new provider, test the system to ensure that it’s working correctly and that there are no technical issues.
- Communicate with customers: Let your customers know about the switch and any changes to payment options or processes, and provide them with any information they need to make the transition as smooth as possible.
Switching card machine providers can be daunting, but proper research and preparation can be a smooth and stress-free process. By considering the above-mentioned factors and following the steps outlined, you can ensure that you find the right provider for your business and make the switch confidently.
As you know, we are a little bit different.
We publish all our prices upfront, transparent rates, easy payment solutions, no hidden fees and complicated bills.
There are a few things that set us apart from our competition besides honesty and transparency.
- We publish our rates and prices upfront.
- We are completely independent; this allows us to pick the best deal for you and your customers.
- There’s no need to talk to a pushy sales rep.
- We specialise in small businesses.
- We can support and advise on PCI, Merchant service charges, Compliance fees, EPOS systems, Card Machines, Payment Gateways, Virtual Terminals, and much more.
- We don’t impose set-up or exit costs, so there won’t be any hidden costs or surprises.
- All our service centres are in the UK, with dedicated staff ready to provide excellent customer service.
- We only suggest a switch if we can demonstrate that we can offer a better solution.
So whether you’re just starting or looking to streamline, we’ll take the guesswork out of card machine payment processing. From card machines and accessories to software and applications that enable you to sell online and streamline operations, we have the tools to help get you to where you want to be.
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