Business Finance

Finding One Credit Card Processing App to Rule Them All

Nov 02, 2017 • 2 min read
small business owner using a credit card processing app
Table of Contents

      To swipe or not to swipe? If you want to stay competitive in modern business, you don’t have a choice. Today’s shoppers overwhelmingly choose plastic over paper, even before they’re asked about what kind of bag they’d like to use for their groceries.

      To put it into perspective, one Gallup poll revealed that 76% of shoppers in America use a credit card. So if you aren’t equipped to process cards, you’re giving the cold shoulder to more than three-quarters of the nation. That’s pretty harsh.

      So we’ve established that everyone needs to be able to handle credit card transactions. But it’s not as simple as putting up a sign that says “Cards welcome!” You’ve got to have a process in place to complete the transaction. The swipe is just the beginning, setting in motion a whole string of crucial actions. And if one of them isn’t completed, you don’t get paid!

      You need a processing app, but how do you go about making the decision? First off, be prepared to sift through lots of fine print. This isn’t nearly as cut and dry as choosing a pair of boots for your next hike – there are layers of details that need to be considered.

      Here are the questions to ask before choosing a credit car processing app for your business:

      Does it have revenue requirements?

      This is one of the best places to start, because not all credit card processors are set up for small businesses. In fact, some have minimum revenue requirements that might exclude your business. That’s okay. There are plenty of processors in the sea, so you can always find one that fits your business.

      What’s the expense?

      You need to identify how much each app will cost and how the charges are accrued. For example, some processors want you to pay monthly. Others will simply take a flat fee for each transaction. And others take a percentage of each transaction.

      Is it ready for the future?

      Payment methods are always changing, so you’ve got to stay ahead of the curve. You don’t want to find yourself like Blockbuster video, patting yourself on the back for having the best VHS selection in town. Find a processor that accepts all payment options and is ready to adapt for what lies ahead.

      Does it back you up?

      Even with the best apps, issues will arise. Time is money and you need to be confident that you’ll be able to accept cards at all times, so choose an app that offers round-the-clock customer service

      Is there an early termination fee?

      Let’s say you choose an app, then realize a little way down the road that it’s not a good fit. Will they gouge you with fees if you end your contract? Believe it or not, there are processors out there that will charge you thousands of dollars. You can avoid this curse by choosing one that only charges a few hundred dollars if you change your mind.

      About the author
      Grant Olsen

      Grant Olsen is a writer specializing in small business loans, leadership skills, and growth strategies. He is a contributing writer for KSL 5 TV, where his articles have generated more than 6 million page views, and has been featured on and Grant is also the author of the book "Rhino Trouble." He has a B.A. in English from Brigham Young University.

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