Things to consider before engaging with a payment processor for your restaurant Leaving aside the issue of pricing for a moment, try to keep the following considerations in mind Taiwan Phone Number List when looking for the right payment processor for your restaurant. Reminder : A payment terminal is equipment that allows you to process payments by debit card, credit card and contactless or mobile payment services. The payment processor's average disbursement times One of the most important considerations is how quickly you will be able to get paid. So ask a potential payment processor how long it takes for them to disburse the transaction amount to your account. Two working days are about enough.
A longer delay should give you pause. Keep in mind that processors that promise faster payout times will also charge you a fee for being faster. The Payment Processor's Approach to Chargebacks Also consider chargebacks. A chargeback occurs when a customer disputes a charge charged by your business and asks the card issuer to reverse it. Yes, it's a real headache, especially if you're a small restaurant that still uses traditional cash register software and can't afford to deal with chargebacks. It's incredibly frustrating to have to bear the costs of chargebacks from customers who claim they've never eaten at your restaurant or that their card was used by someone else.