Navigating the perceived complexities of credit card processing fees, contracts, pricing, hardware options, and mobile payments can be overwhelming. Veterinary practices want dependable, cost-effective credit card processing services with back-end support for their teams. And while there are many payment processors to choose from, opting for a merchant services provider that integrates with your practice management software offers significant advantages, including better efficiency and accuracy.
If you’re searching for the right merchant services provider, here are the top five things to look for, from our partners at Gravity Payments, a solution that works seamlessly with NaVetor software.
Customer Service
Reliable payment solutions are about more than just credit card processing. They’re about providing outstanding customer service to help veterinary practices thrive. A single transaction is made up of many moving parts, including point-of-sale terminals, accurate pricing, and secure storage of data, to name a few. All those moving parts mean increased risk of something going wrong and consequently, an increased need for reliable and supportive customer service.
When choosing a solution, ensure that it has a customer service team that will support your practice, including multilingual representatives, 24/7 access, and technical expertise.
Tip: Look at reviews online and ask the company as many questions as possible about availability and troubleshooting.
Effective Rate
The effective rate you’ll pay is the truest measure of your actual cost. It’s the average percentage per transaction charged to process the payment. To calculate your current rate, follow this equation: Effective Rate = Total Fees/Total Gross Sales Volume.
Tip: Remember that the most affordable solution isn’t always what is in your practice’s best interests. We all want to save money where we can, but rates must be considered along with the entire package, including the benefits offered.
Tip: If you’re considering a limited-time promotion from the provider, make sure to calculate the increase in costs after the promotion ends.
Data Security
In our increasingly technology-driven world, data security and privacy are always important for practices and their clients. If clients feel they cannot trust you to keep their data secure, they may not stay clients for long. That’s why it’s important to ensure that all credit card information is stored safely by working with a service provider who is a leader in online security and data encryption.
Tip: Review historical information for any data breaches and how regularly they update their security technology.
Length of Contract Term and Cancellation Policies
The cost of credit card processing can be a difficult challenge for small practices. As promotions expire or general fee increases occur over time (a common practice), smaller veterinary practices are at risk that they will no longer be able to afford to accept credit cards. But if they are in a long-term contract, it makes it difficult to look for other options, especially if the processor implements closing fees or threatens damages for lost future business.
Tip: Ask about the contract terms and cancellation policies, and make sure all assurances are in writing.
Transparent Communications
Understanding the way your business accepts payments is important in working with any merchant services provider. And in return, your provider should take the time to determine what services you require for the right processing solution. They should provide you with a transparent breakdown of the rates they offer and the equipment you need to accept payments in a way that suits your practice.
Tip: Make sure they are transparent in their communications, listen to your concerns, and do not provide you with cookie-cutter solutions that could apply to anyone.
The Benefits of Integration
Integration with a merchant services provider simplifies both the payment and record-keeping processes for practices. For example, with one swipe of a client’s credit card, the information is automatically added to the patient record, saving time for staff and improving the client’s overall checkout experience. This automation also reduces human error in record keeping, saving headaches during end-of-day reconciliation and eliminating double entries between a separate credit card terminal and the computer.
NaVetor has now partnered with Gravity Payments to process credit and debit cards and have those payments automatically post to the invoice within NaVetor, saving time and minimizing errors for veterinary practices. This integration offers:
- The ability to accept credit and debit card payments from any workstation in your practice.
- Real-time, cloud-based reporting, providing information wherever and whenever you need it.
- The latest in payment security and technology.
- Around-the-clock customer service and technical support.