checklist-picking-a-payment-provider

Checklist: How to Find the Right Payment Provider to Partner With

Do you want to offer payments to your customers? Finding the right payment provider is never easy, and with so many to choose from it is hard to find the perfect fit for your business. How do you compare?

We feel your pain, which is why we created this Checklist. Start comparing, and find the right partner in payments for your business. Are you looking for even more information? Check out our How to Select a Payment Provider e-book.

Basic Questions:

  • What payment types do they support
    • Traditional (ex. Visa, MasterCard, Interac Online)
    • Non-traditional (ex. Apple Pay, Bitcoin)
  • What is their full product suite
  • How long will settlement typically be for your customers?

Awareness and Education:

  • How big is their network?
    • # of Merchants
    • # of Partners
    • # of Integrations
  • Do they showcase their partners anywhere?
  • Do they offer any cross-marketing or co-promotion opportunities
  • How will they help you communicate with your customers?
    • Do they have marketing material you can utilize?

User Acquisition

  • Is their gateway bank neutral?
  • How do your users sign up for payments? (Online, paper applications, integrated into your own onboarding flow?)
  • Can you control the user experience and contain it to your brand?

Growth

  • Do they offer revenue sharing?
  • What sort of partner specific reports can they provide?
  • What level of PCI-Compliance are they?
    • Does the level of compliance differ by solution?
  • Who stores the payment data?
  • Do they offer tokenization?
  • Can your customer accept payments online, in-store, and in-app?
  • Do they have currency solutions?
  • How can they help your customers explore new markets?

Churn

  • What is the level of support, for both you as a partner and your customers
    • Email
    • Chat
    • Phone
      • Real People or Automated Machine
    • Does support shut down each day or is it 24/7?

Feel free to print out our checklist, here is a PDF. If you want to hear how we check all these boxes – and more, contact us today!

Nicole Stright

Nicole Stright

Nicole is our coffee dependent content specialist. With a quick-witted way with words, she could make you enjoy reading an instruction manual. She was born American, raised Canadian and has lived briefly in Poland. A quintessential west coastian she can be found running the seawall, practicing savasana in yoga or enjoying an over-hopped I.P.A. Nicole is responsible for all of the bean puns as well as creating compelling copy driven by analytics that converts. She strives to simplify the complicated and wants readers to easily understand the often convoluted industry of payments.
Nicole Stright