4 Common Payment Processing Problems Small Business Owners Encounter

As a small business owner, the world of payment processing can be tough to navigate. With so many vendors and services, it's easy to get lost. Here are the four most common problems business owners run into when processing payments/choosing a processor.

1. Processing Fees

When it comes to processing payments, processing fees are simply the cost of doing business. In today's world, no one uses cash anymore, meaning every time a customer swipes or taps their card or phone to purchase something, it's costing you money. There are tons of different processing providers; by researching and choosing the right one, you can reduce costs by a large margin. For example, VizyPay offers a subscription-based service called the Cash Discount Program 2.0. This program is a subscription-based service starting at just $25 a month, eliminating all processing fees!

2. Payment Support 

As transaction issues don't have a set schedule, neither should your processor's support team. Do you own a bar that accepts payments until 2 a.m.? Or maybe a coffee shop that opens at 5 a.m.? Whatever the case, you need to ensure that you have support whenever a problem arises. Take VizyPay's support team, for example; Not only do they answer your call in 30 seconds or less, but they're available 24/7, and they don't outsource! You'll be speaking directly to someone in-house with hands-on experience with any technology we offer.

3. Integration 

Many small businesses in rural areas use outdated technology and payment platforms. Manually updating transaction records in your books is time-consuming and risky. With the right setup, you can automate this entire process seamlessly. VizyPay understands that every business is different. That's why they offer various POS options that cater to your business's specific needs. Such as their award-winning True Cash Discount App. Work smarter, not harder!

4. Protection

Credit card fraud is trending within the U.S. you need to protect your information and customers. To combat this trend, you must make sure that you choose a processor that stays up to date with PCI (payment card industry) and DSS (data security standard) compliance. Protecting your business from any liability should be of utmost importance.

Choosing a suitable processor to fit your business's specific needs is crucial when push comes to shove. Hopefully, this post made you more aware of the common obstacles business owners have to overcome. For more information on the services VizyPay offers, browse our website, and remember to look local first!