Guides
Switching Payment Provider: The Complete Checklist
Planning to switch your merchant services provider? Here's everything you need to consider, from contract terms to integration timelines.
Switching Payment Provider: The Complete Checklist
Switching merchant services provider can save your business significant money, but it requires careful planning.
Before You Switch
- Review your current contract for exit clauses and notice periods
- Calculate your true current costs including all fees using Ratechecker.io
- Identify your key requirements for a new provider
During the Switch
- Keep your existing setup running until the new one is live
- Test the new terminal with real transactions before going live
- Update any payment links or gateway integrations
- Inform your accountant of the change for reconciliation purposes
After Switching
- Monitor your first few statements carefully
- Ratechecker monitors actual fees an optimises
- Ensure settlement times match what was promised
- Keep records of all communications with both providers
Common Mistakes to Avoid
Don't cancel your old provider before the new one is fully working. Don't sign a long contract without an exit clause. Don't ignore the total cost of ownership including hardware and monthly fees.