What SMBs Look for in Their Payment Processing Solutions

Published November 6th, 2017 by Servistree

Small and medium sized businesses need to have payment processing systems to accept credit, debit and check payments so that customers can pay in the way that best suits them. Integrated payment solutions are tools that can be used to further integrate accounting, customer relationship management (CRM), and other business applications with payments processing. By integrating payments processing with business applications, businesses can save time and money, and reduce mistakes.

Every business wants to get paid as quickly as possible but manual data entry increases the likelihood of human error. Hence the solution is a payment processing system. However, whichever system the company chooses needs to address a variety of issues.

High Level Integration

First businesses might want a payments processing service that integrates everything from every conceivable method of payment using every method of delivery. However, whichever system they is chosen must provide real benefits to the business. SMBs need to understand which systems are better, which offer the greatest flexibility, and which can integrate with their current systems or their back office. It is also important to find a system that delivers to the bottom line quickly and easily.

SMBs should consider the range of benefits a payment processing solution can provide, over and above simply taking money. Some systems can pre-authorize credit cards and automatically accept or decline payments. Some can actually store the data securely so that repeat customers do not have to reenter their information. Some print receipts, and send email notifications to customers, and advise an order fulfillment system. The company’s decision makers need to think exactly which benefits they need before making a final decision.


Second, and often the most important to the SMB, is the question of how the payment solution will increase revenue. Companies need to ensure that they are ready to accept all of the payments types which their clients prefer to use, but at a cost which will not eat into their profits. A good system will improve cash flow, and allow the business to speed up the process of obtaining outstanding monies.


Another issue is security. How will a new payment processing system help to cut down on the raft of compliance issues, and how can the system ensure that the card data is secure? Using an integrated payments solution from a Payment Application Data Security Standard certified vendor will ensure that all exchanges of payment data are secure and PCI compliant with PCI security standards, which mandate that businesses safely encrypt and store PIN numbers, CVV2 numbers and magnetic stripe data.


Finally innovation is key in maintaining a robust payment processing solution. On the one hand new technology can add tremendous value to a business, to as long as it delivers exactly what is required. Innovation for its own sake, which has no added value to the business, is a waste of time and money. But, at the same time, the business owner should consider future business needs and ensure that whichever system they choose has the ability to grow, adapt, and innovate alongside them.

Give us a call with any questions about your credit card and payment processing needs at 1-866-944-3244. Or visit our website Keep up with the latest news and information on credit card processing and mobile payments along with other small business news by subscribing to our blog by clicking here.

‹ Back