With competition among credit card providers increasing and everyone trying to snatch a piece of the small business pie, you will have ample options to choose from. However, choose your provider judiciously. The credit card processor you choose will have much bearing on your business and you want to make sure you have all your options laid out. Do not go along with the first company that you talk to, you will never know your options till you explore them. Instead, always choose a company that gives you the best terms and one that you trust. Here is a lowdown of the kinds of credit card processors you may consider.

Credit Card Companies:
Companies like Visa and MasterCard can help small businesses establish merchant accounts through a third party agent, but AMEX and Discover allows you to directly apply to them.

Trade Associations:
Local trade associations may offer merchant account processing at discount prices and may be especially helpful if your industry has previously had trouble getting credit card merchant status.

Private Banks:
They can be the most convenient place to seek credit card services and may offer special packages/deals to businesses that include merchant services. Most banks do not process credit card transactions themselves, but instead, work with a third party credit card processor. However, be warned, if your business or records do not match up to their stringent standards, your request may not be approved.

Third Party Processors:
These processors do not require merchant accounts and are usually focused on only handling credit card processing and look after all the aspects of the transaction process which includes authorization, billing, reporting, and settlement.

Independent Sales Organizations:
These are registered credit card merchant brokers that act as middlemen for third party processors. They may help you get started with your merchant account, but dare not involved in the actual processing. However, one must know that since ISOs are not as strict as banks, regulation for them too is not very stringent. So, one must be extra cautious.