1. The cost of the service is likely the most important thing businesses need to consider. These costs include startup expenses, service charges, and percentages charged for every transaction.
2. Payment processing services need to be secure. Key security features should include data encryption, CVV2 verification (Card Verification Value 2, also known as Visa's three-digit code), and transaction billing address verification.
3. High-quality customer support is a must so that problems can be addressed immediately. Before choosing a service, businesses should evaluate the type of customer support that is best for their needs.
4. Determining the type of transactions a service supports is important since managing credit card, debit card, and PayPal transactions all require different methods of processing.