When it comes to payment processing, many businesses are victims of common myths that can spend
them money and valuable time. With the increasing requirement of efficient and safe payment
systems, it is important to understand the truth behind payment processing, especially for businesses
in the United States. In this guide, we will detect 4 payment processing lies and how to avoid them, so
that you can make the best option for your business and be ahead of the curve. By the end, you will
know what to see when selecting the payment processor and avoid expensive mistakes.
The truth behind general payment processing lies
Lie #1: “All payment processors are the same”
Many business owners accidentally believe that all payment processors are made equal. While the
payment processors may look the same on the surface, there are significant differences in fees,
features and customer aid levels that they provide. The incorrect option may be high fees, delays in
transactions and a poor user experience.
How to avoid this:
➢ Do research on various payment processors and compare facilities.
➢ Choose a processor that suits your business model and customer needs.
➢ Look for a processor that provides transparent pricing and strong customer support.
Lie #2: “Payment Processing Fees Are Fixed”
Another myth is that the payment processing fee has been fixed and the interaction cannot be done. In
fact, many payment processors offer flexible pricing based on your business size, quantity of
transactions and industry. By understanding how the fee works, you can potentially save money and
reduce the cost.
How to avoid this:
➢ Interact the fee based on the amount of your business transactions and the risk profile.
➢ Look for the processor with tier pricing, where you reduce the rate as soon as you do more
transactions.
➢ Be sure to pay attention to hidden fees, such as chargeback or monthly account maintenance.
Lies #3: “Security is the same for all payment
processors”
Security is a top priority when it comes to payment processing. However, some processors use the old
or insufficient safety protocols, putting at risk of their customers’ sensitive data. Relying on all
processors for equal level protection can leave your business weak for fraud and data violations.
How to avoid this:
➢ Select a payment processor that complies with payment card industry data security standard
(PCI DSS).
➢ Verify that your processor provides encryption, tokens, and fraud prevention equipment.
Look for processors that offer advanced security facilities, such as 3D safe and biometric
authentication.
Lie #4: “Payment Processing Is Just About
Accepting Credit Cards”
Many businesses believe that payment processing involves accepting only credit cards. While the
credit card is a major payment method, today’s customers prefer a wide range of payment options,
including digital wallets (eg Apple Pay and Google Pay), bank transfer, and buy now & pay-later
services. Ignoring alternative payment methods can limit your business’ ability to grow.
How to avoid this:
➢ Choose payment processors that provide many payment options including credit cards, digital
wallets and other popular methods.
➢ Stay up -to -date with the latest payment trends so that you can offer customers the options
they like.
➢ Invest in a payment gateway that supports global payment to expand your customer base.
Why choose us in US Payrun for payment
processing?
In US Perun, we understand the complications of payment processing and are here to help you make
informed decisions. Our team of experts ensures that you avoid general myths and disadvantages
associated with payment processing. We provide an analog solution that are safe, cost effective, and
are designed to grow with your business. By participating with us, you will have access to payment
options, transparent pricing and an wide range of extraordinary customer aids.
Frequently Asked Questions (FAQs)
How do I choose the right payment processor for my business?
Look for a processor that provides transparent pricing, several payment options and strong security
facilities to suit your business requirements.
Are there any hidden fees in payment processing?
Yes, some processors have hidden fees like chargeback fee, account maintenance fee or setup fee. Be
sure to review all fees before committing.
How can I ensure the safety of customer data during payment processing?
Choose a processor that complies with PCI DSS standards and provides facilities such as encryption
and tokening to protect sensitive data.
Can I offer several payment methods through the same processor?
Yes, many payment processor supports many payment methods including credit cards, digital wallets
and alternative payment systems.
What should I do if I have problems with my payment processor?
Contact immediately with customer assistance to solve the problem. If the issue remains, consider
switching to a processor with better support and reliability.
Conclusion
Understanding the truth behind 4 Payment Processing Lies and How to Avoid Them is essential for
making the right choices for your business. By debunking these common myths, you’ll be able to
choose the best payment processor that offers fair pricing, excellent security, and flexibility for your
business needs. At US Payrun, we’re committed to helping you navigate the complex world of
payment processing so that you can focus on growing your business with confidence.
Ready to get started? Contact US Payrun today to learn more about our
secure and flexible payment processing solutions tailored to your business!