There is little doubt that you need a merchant merchant services partnership account to run a successful business. Without such an account you can't process credit card payments; and most customers pay with plastic. That said, it is important to take the time you need to get the right terms, or you will regret your decision every day. Avoid these common errors and you are likely to make the right choice.
Forget to Ask Important Questions
In your enthusiasm to start your new business it is tempting to skip right to the signing part. Don't! Ask for clarification on any part of the contract you don't understand. Find out exactly what fees will be charged for which actions. Ask questions about customer support, check companies' reputations online and off. Call the Better Business Bureau. Consider making a list of all the questions you want answered before you sit down with your application and representative.
Among the most dangerous fees to overlook are cancellation fees, which can cost you an arm and a leg if you terminate your contract earlier than originally agreed upon.
