8 Tips for Credit Card Processing (Part 2)

In this second of a two-part series, you'll learn about four more tips when choosing a credit card processor.

Money & Credit

8 Tips for Credit Card Processing (Part 2)

Accepting credit cards for patient payments can streamline your accounting and ensure timely payment. But once you've decided to accept credit (and possibly debit and gift cards), it's a smart business move to do some research on processors.


In a previous article we shared the first four tips when choosing a credit card processor. Here are four more tips to help you make a wise decision.

  1. Think Twice About Enticement Offers. If it’s too good to be true it usually is! You’ve heard it a hundred times, but this is extremely important when it comes to credit card processing. Unscrupulous providers may entice you with extremely low offers and rates, only to turn around later and raise them or charge additional fees after you sign up.
  2. Choose a Reliable Company. There are literally thousands of sources that will sell you credit card processing. You can buy through the internet, from banks, through ISO (Independent Sales Organizations) or directly from the processing company. Many banks and all ISOs typically sell the services offered by a processing company. Understanding who will ultimately be the organization servicing your account and providing support is very important as not all service is equal. Ultimately it comes down to who you trust to provide you with the best and most reliable service at a reasonable cost.
  3. Prepare to Compare. Besides interchange, there are other basic costs of processing that you’ll want to compare such as:
    • transaction rates
    • compliance fees (to protect you in the event of compromise or breaches)
    • equipment costs

If you’re comparing offers, make sure you understand all the fees as well as terms and conditions so you can make a knowledgeable decision.

  1. What Equipment Will You Use. Credit card processing terminals can range from $100 - $500 or more depending on the capability. Reliable terminals should be upgradeable for the latest security and software updates. Be leery of companies presenting you with free terminal offers unless the offer is from a reliable source. You should also watch out for terminal equipment leases as they may require large penalties if you decide to cancel.

When you’re ready to shop or compare processing services, we invite you to consult with one of NCMIC’s fully-trained, non-commissioned representatives about the benefits of processing credit cards with us.


The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.