Start with where customers pay

  • In-person payments may use countertop, mobile or integrated POS devices.
  • Online payments typically require an ecommerce checkout and payment gateway.
  • Phone, mail-order and remote payments may use a virtual terminal or secure payment link.
  • Recurring billing requires tokenization, account updating and clear authorization workflows.

Understand the payment path

  • The merchant captures card information through a terminal, website, mobile device or software platform.
  • The gateway or payment application securely transmits the transaction.
  • The processor routes the authorization through the card networks to the issuing bank.
  • Approved transactions are later settled and funded to the merchant account.

Compare more than the advertised rate

  • Interchange and network costs vary by card type and transaction characteristics.
  • Processor markup can be structured in different ways, including interchange-plus and bundled pricing.
  • Gateway, PCI, device, batch, chargeback and other fees can materially affect total cost.
  • Commercial-card data, transaction method and settlement behavior can also affect qualification.

Choose technology that fits your workflow

  • Retail and service businesses may prioritize fast checkout and mobile acceptance.
  • B2B merchants may need invoice references, Level II or Level III data and ERP connectivity.
  • Ecommerce businesses need gateway compatibility, fraud tools and tokenized card storage.
  • Multi-location businesses often need centralized reporting and consistent user controls.

Build security and support into the decision

  • Use PCI-compliant payment technology and avoid storing raw card data when tokenization is available.
  • Confirm who supports the terminal, gateway, integration and processor when something fails.
  • Document refund, chargeback and card-on-file procedures.
  • Review statements periodically for new fees, qualification changes or avoidable processing cost.