It's not that I dislike cash, it's just that I'm not that comfortable carrying it around. As a consumer, I feel more at ease strolling in the shopping mall or dining at my favorite restaurant without having to squeeze a chunk of cash in my cute purse. And with paper money, once you lose it, it’s forever gone and you’re left to sob about your misfortune. The last time I misplaced my card; I immediately cancelled it and got a new card easily. There was absolutely no drama.  As a business owner, I realize how convenient it is for clients to be able to pay with their credit cards and I knew as soon as I started my business that I need to be able to accept credit card payments. Not only would I make it more convenient for my loyal customers, I’d also be able to bring in more people that thrive on easy and suitable transactions.

And just like any entrepreneur who wants the best service for my clientele, I went through the phase of having to decide how to accept payments from clients. I considered things like service charges, fraud protection, guaranteed on time payments, and many more. For a few weeks, I researched on different payment processing companies and looked into their benefits and disadvantages like a hawk. In case you are doing the same right now, let me save you some time and share the information I gathered back then. Of course, this article comes with updated information as most of the data I had were already obsolete.

PayPal

Let's start off with the new business owners'/start up companies' go to option, the ever popular PayPal. Honestly, when I hear PayPal, I think secure. But I also think amateur because people may perceive it as the easiest to set up. By paying with PayPal, you keep your information private and you can easily track your history – payments received and payments sent.  It has an included Purchase Protection coverage at no cost but it can be difficult to contact PayPal’s customer service to settle disputes. And although PayPal does not charge you for setting up an account, it is time-consuming.  You have to go through the process of linking your card and verifying it. So, if you don’t have the patience to get information like bank codes and PayPal expuse code, this payment option is not for you. 

What I like: Secured, No processing fees, No annual membership fees, no service charges, free Purchase Protection Coverage, Ability to send and receive international payments, Easy access to transaction history 

What I don’t like: Not-so-good customer service department, complicated set-up procedure, possible holds for large amounts, daily withrawal cap, takes up to serval days or even weeks for transfer large amounts into your account, limited functions

Google Wallet 

Ever imagine buying a quick caffeine fix or paying for your favorite pizza using your phone? According to Google, this is the better way for money transfer.  Launched in September 2011, Google Wallet enables customers to pay using their phone.  You just have to hold your phone near the reader and wait for the vibration.  Once the reader beeps, you are good to go.  Honestly, I find it really cool.

I would definitely give thumbs up for this one however at the moment; you can only use this application on an Android handset with NFC-capability. The Sprint Nexus S 4G phone, which has NFC antenna and “secure element” chip inside it is the phone for this payment option. Additionally, the application only links with Citibank MasterCards or Google Prepaid Cards, though Google says that you would be able to use other major credit cards soon. I know it would be an even greater joy to go shopping with coupons readily available in your Google Wallet.  But with the restrictions to the device you can use this on; this payment method remains a novelty.

What I Like: Paying is easy, Couponing is made easy, Information is secure and separate from your phone’s OS, application is free, Zero liability on unauthorized purchases, Offers a quick way to monitor budget 

What I don't like: Sprint Nexus S 4G compatible only (for now), only accepts Citibank Mastercards and Google Prepaid cards
 

Therapy Partner 

Therapy partner is a known pioneer and industry leader in a niche specified for therapists. It is not only an online payment processing provider but functions as an indispensable tool of practice management and convenience. This service was founded and created by a therapist as a customized billing management system for therapists' specific needs in private practice

In a nutshell, Therapy Partner is a highly favored player in the field of therapist practice. It's secure, payments are made only through online means where no card swiping is necessary.  It is like having a mini-database in your office where client and associated information like session and payment are securely stored and have all income tracked for tax purposes. From this facility, as one of its main features, you can issue online insurance-ready statements. Therapy partner does not offer gateway fees, monthly minimum add-on charges, refund charges or statement fees. Therapy Partner charges clients through a monthly flat rate. 

With all advantages listed above, a good deal looms. However, the interest rates charged per transaction ranges from a bruising 3.75% to 4.99% on top of a monthly fee startling from $29.95 to $59.95 a month, which is agreeably indeed startling.

What I like: The security and convenience brought by a noteworthy pound for pound tool for a therapist's practice management.

What I don't like: best suited for therapists only, ridiculous per transaction interest, may not be desirable for big income therapy clinics.
 

Square Up

Square Up is definitely a revolutionary addition to the payment processing industry. When it first came out, it just blew my mind. It is the first to allow users to accept credit cards through their mobile phones. How it works is that you can swipe the card on a square device attached to your phone or by manually entering the details on the phone. Before Square Up, i didn’t even think it was possible. It can be plugged in  to the audio jack of iPhone, iPad and any other Android phone.   It charges a  fee of 2.75% on every transaction. I did was not convinced enough due to the fact that they don’t have a toll free telephone number. The most common concern I hear from their customers is the lack of  customer service, which is too bad because it is something I consider very important.

What I Like: first of its kind, The Square app and card reader are both free, no activation fees, no monthly fees, no gateway fees, No downgrade fees, no early termination fees

What I don't like: no customer service, no toll free number, possible withholding of funds, can't be integrated into website, limited functions

At last. I finally found it!

Thank God, I was finally able to find a payment processing company that’s perfect for my needs. In the middle of my search for the best payment processing service, I came across MoneyTree Merchant Services and immediately fell in love. What’s not to like? They offer free terminal placement, fast approval, and absolutely no start up costs. The monthly rate is affordable and it also offers free equipment. Plus, they also have a mobile solution similar to Square Up. It allows business owners to take Debit/ Credit Card payments via Tablet and Smartphones. The difference from Square Up is that they have excellent customer support. This is one of the most remarkable things about the company. And it worked perfectly for me because I’m a fan of companies with great customer support.

 As a summary, here are the benefits that you will be getting from this service:

Who will benefit from this service?

• On the go entrepreneurs who take their business on the road
• Non profit organizations
• Traditional store and restaurant owners
• Modern entrepreneurs with an online store
• Churches and ministries
• Business owners who offer products and services online or storefront

Another great thing about MoneyTree is that they allowed me to partner with them. And by doing so, I’ve been empowered to help my friends enjoy the same benefits and add more streams of income to my company at the same time. If there is one word I can use to describe this service, it would be: PERFECT.

Like me, you too can have the opportunity to provide your customers with hassle free transactions. Whether you have a shop or are an on-the-go entrepreneur, you can start enjoying the benefits of a professional and reliable payment service. Call today for your FREE Merchant Account Setup: 800-929-8966. 

WE WANT TO BECOME PARTNERS WITH YOU!

Are you vibrant, friendly, outgoing and interested in earning extra income? If you said yes, then you are who we're looking for.

We are building a team of driven individuals to help spread the word about our merchant account services. Help your friends get set up to start accepting credit and debit card payments and receive a generous incentive from us. For more details on how to earn from this program, call 1-800-929-8966.  Slots for this opportunity are limited. Call NOW!

Credits: Shanesia Winston, Queen of Biz Makeovers

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