Third Party & Direct Processors
Charity credit card processing solutions are all over the Internet, but how can you be sure you are getting the best deal?
Getting all of your charitable organization web solutions in the same place may not be the best idea when it comes to processing credit cards. This is because some companies will do web design as a loss-leader in order to hit you with high credit card processing fees, when those dollars should be going toward your cause instead of the designer's pocket.
Nonprofit Services
Whether you take your dollars in-person, online, or through a kiosk, it is vital that you should be getting the lowest possible rates for donations. This is because there are many events where tens or hundreds of thousands of dollars are raised all at once, and every fraction of a percent in credit card fees is money that could go to a more worthy cause.
Learn Terminology Before Shopping Around
Understanding the lingo of credit card processing is important if you want to get the best deal. You should know the nature of your relationship with the credit card processor, and understand whether you have a third-party relationship similar to PayPal or if you are processing directly, because there is a big difference when funds are paid out to your account! If your charity is a going concern, and processes a lot of dollars, a direct relationship with an established processor can give you big discounts. You may even see further fee reductions if the processor can use you as a testimonial. A processor may even take a slight loss on your account if it equals good public relations, so you can always use this angle when you are negotiating rates and fees with your processing company.