POS credit card processing is designed to streamline the customer checkout experience. After all, payment processors are the reason that merchants can accept customer debit and credit cards — and ensure their banking information will be kept safe.

Just like point of sale systems, you have several options when it comes to choosing a payment processor. Lucky for you, our team is here to answer the most common questions we get about processing credit cards with a POS system!

Are there long-term processing contracts?

The short answer: It depends.

At POS Nation, we do not make customers sign long-term contracts. You’re not locked in for years on end — so if for some reason you’re unhappy, you are free to leave. However, this isn’t the case for many payment processors. You might be pressured to sign a contract that lasts anywhere from three to five years.

Being locked in with a processor means you’re locked into your rate. They can also raise this rate at any time, and because you signed a contract, you can’t do anything about it. Additionally, this doesn’t leave your business much room for growth. Since most processors charge you by the percentage of your total transactions, you pay more if your business is making more. You’ll want to be flexible in case your business experiences any changes, rather than get hit with unreasonable cancellation fees if you find a better deal.

Do I have to process credit cards with my POS company?

Again, this depends.

POS credit card processingPOS Nation does not require customers to leave their payment processor if they already have one (or if they’re stuck in a contract). And even if you don’t have a processor, you can still go with another company if you don’t want to use ours. However, other POS companies might have different terms — requiring you to use their payment processor and sign a long-term agreement if you purchase their system.

Keep in mind that payment processing integration with your POS system is beneficial for a few reasons. Using the same company speeds up transactions, confirms they’re accurate, and makes it easier to accept credit and debit cards.

Some processors may also suggest using a standalone terminal. Standalone terminals are not ideal as they can slow down the checkout process because transaction amounts have to be entered manually. Additionally, processing fees associated with this device are typically higher than average.

Lastly, your POS company can come to the rescue if something goes wrong with credit and debit card transactions. For example, customers who integrate our payment processing with a POS Nation system enjoy free 24/7 support and reliable solutions during outages. There’s just one number to call for any issues you might encounter.

Bottom line — integrated processing is the way to go for a professional business.

Are your processing rates better than my local bank?

Most likely.

But, really — we’re proud to offer competitive rates to customers. And if you’ve already been quoted a great rate that you’re happy with, just show us documentation and we will match that rate.

If you’re a current customer of ours, or you become one in the future, we always encourage bundling your POS system with our payment processing. It’s a lot easier to work with us for everything than to keep track of multiple company contacts.

How do I choose a credit card processor?

Do the research, make some calls, and take your time. Be sure to read the fine print. We’ve talked to several customers who have been paying large fees for credit card processing — and they had no idea it was happening. Processors can be sneaky about how they charge merchants, so be cautious and pay attention to all of the details.

Do you have more questions about credit card processing? Get in touch with us at sales@posnation.com. We’d love to help you find the perfect POS solution for your business — and an excellent payment processor to match!