What to Know Before Getting Started
Starting a New Business?
Selecting a credit card processor is often more complicated than most people expect. How much should you be paying in fees? Should you lease or buy equipment? Should you be locked into a service agreement for anything length of time? These considerations and several others are imporant to understand before signing up with any merchant account provider. Mistakes are easily made and can be very costly to your business. Along with seeing our top choices for payment services below, be sure to checkout this post to avoid common traps in the merchant services industry.
Considerations For Current Business Owners
Changing merchant accounts can be an expensive, complicated, and time consuming process. Are you really going to save as much as promised? Do you need to buy to new equipment or sign new lease agreements? Will there be other less accountable costs such as those associated with employee retraining? Before selecting one of our choices below, you may want to consider renegotiating your fees with your current payment processing vendors using the help of a contingency-compensated consultant. It can result in a dramatic decrease in costs without the pains of switching. In some cases business owner have also obtained substantial refunds of prior overcharges along with saving thousands in future processing costs. See this post to learn more about this little-known alternative to changing merchant account provider.
As an eyewear store owner, you know how to give your customers a top-notch product in terms of style, function, and affordability. Unfortunately, when it comes to credit card acceptance, you might be hard-pressed to find a provider that strikes the same balance. Most merchant account providers are still clinging to outdated business models that lock you into expensive long-term contracts for unnecessary equipment. Other providers might have top-notch products like online stores and iPad point-of-sale systems, but charge prices that are way beyond your budget limitations. In other words, you’ll have to take a very close look at any contract you’re handed to ensure that it actually is the right deal for your eyewear store.
To help you find a good fit for you, we’ve put together the following list of the best credit card processors for eyewear stores. The providers on this list offer point-of-sale solutions, customer loyalty programs, online store builders, and other useful services for growing and maintaining your retail eyewear location. They are also known to provide low-commitment contracts with transparent pricing and quality customer service. To find the right provider for your eyewear outlet, be sure to research each processor’s products and features and compare pricing and terms.
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Why These Merchant Account Providers
Host Merchant Services
Host Merchant Services is a Newark, Delaware-based merchant account provider that is well-suited for most eyewear stores. The company’s products and services include point-of-sale solutions, online marketing tools, an online payment gateway and virtual terminal, mobile credit card processing, gift and loyalty programs, and merchant cash advance. Host Merchant Services specializes in e-commerce businesses and provides a free website and email address to interested merchants. Host is a perfect fit for eyewear sellers who would like to conduct an equal amount of sales over the internet and in person.
Host Merchant Services has received only positive feedback on public forums, with most reviewers singling out the company’s customer service for praise. Host offers interchange-plus pricing with no early termination fees to all of its merchants, meaning that users will enjoy the most transparent pricing model and can cancel service without penalty. The BBB gives Host an “A+” rating, and CPO also gives the company an “A+.”
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving standard to high risk business types. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. These features allow eyewear stores to accurately track their extensive inventory of frames, prescription lenses, and sunglasses as well as facilitate payments at a storefront or online. For those reasons, PaymentCloud is a good option for eyewear stores.
PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history. The BBB does not maintain a profile for PaymentCloud at this time, but CPO gives the company an “A.”
Active since early 2014, Fattmerchant is a merchant account provider leading the industry’s move toward flat-rate, subscription-style pricing. The company’s products and services include EMV-compatible countertop terminals, a virtual terminal, an online payment gateway, an online shopping cart, mobile phone processing, QuickBooks integration, online invoicing, and recurring billing. Fattmerchant is capable of serving all standard-risk eyewear stores and offers a comprehensive dashboard for tracking all payments and customers.
Fattmerchant offers multiple pricing plans with different rates. Merchants can select either a plan that charges a flat fee on all transactions or a plan that charges a fixed monthly fee plus a fixed per-transaction dollar amount above interchange. In other words, merchants can choose whether or not they are charged a percentage markup on each transaction. Fattmerchant currently has an “A” rating on CPO and an “A+” rating with the Better Business Bureau.