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Procurement Market Intelligence Report
Credit Card Payment Processing Services
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Credit Card Payment Processing Services?
What is the average price of Credit Card Payment Processing Services?
This procurement report includes pricing information to help you purchase Credit Card Payment Processing Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Credit Card Payment Processing Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Credit Card Payment Processing Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Credit Card Payment Processing Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Credit Card Payment Processing Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase Credit Card Payment Processing Services?
The top four vendors of credit card payment processing services account for roughly 40.0% of market revenue, indicating a moderate level of market share concentration. However, the degree of market share concentration has been falling slightly in the three years to 2019 due to bolstered competition stemming from new entrants.... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Quality Control
How do you ensure credit cards are accurately processed?
What systems and tools do you have in place to minimize the number of errors that may occur when the credit cards are processed?
Who identifies errors and who fixes them? How quickly are they fixed?
How do you balance quick turnaround times with accurate service solutions?
How do you use client feedback to improve quality control?
What service monitoring reports are available?
Staff Turnover
What has been your employee retention rate in the past year? Two years?
How do you recruit and retain your staff?
How long has each employee that is working on my team been employed with your company?
If an employee that is working on my project leaves, how will you assign a new employee to the project? How will you maintain workflows and meet deadlines?
What is the average tenure of your employees?
How does your turnover rate impact your services?
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Key elements for every RFP
What should my Credit Card Payment Processing Services RFP include?
Project Budget
Buyers should include the desired pricing model.
Vendors should include a pricing proposal, which should define and list all fees (e.g. reporting, charge backs, monthly minimums, authorizations, settlements) associated with each type of transaction (i.e. online, face to face).
Vendors should include purchase and lease prices for processing units, if necessary.
Vendors should include how they calculate discount fees (i.e. on gross or net sales).
Selection Criteria
Buyers should evaluate the vendor's experience with projects of similar complexity and scope, as well as the qualifications of their staff.
Buyers should evaluate vendors based on their projected costs.
Buyers should evaluate references from vendors' previous clients.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers should include the date when proposals are due and any other relevant dates (e.g. presentations or final interviews) prior to the contract award.
Buyers should include the date when the contract begins and ends.
Evaluate major factors to mitigate risk
How risky is the Credit Card Payment Processing Services supply chain?
The supply chain risk for credit card payment processing services is low. Vendors source inputs from a myriad of upstream suppliers, including commercial banks, software publishers, computer and telecommunications equipment wholesalers and telecommunications services providers. Although financial institutions face the most risk from defaults and difficulties that could lead to... Subscribe to learn more.