The start of a new year is the perfect time for small business owners to clean up operations, review expenses, and set the tone for a profitable year ahead. One area that often gets overlooked? Your payment processing setup.
From high transaction fees to outdated point‑of‑sale systems, even small inefficiencies in how you accept payments can quietly drain your profits. This 2026 checklist will help you evaluate your current setup, explore better options, and simplify how you get paid, all while keeping more of what you earn.
Let’s dive into the must-do payment tasks for the new year.
1. Review Your Credit Card Processing Fees
Start with your monthly statements. Are you paying more than you expected in processing fees? Many businesses don’t realize how much interchange fees, markup, and hidden charges add up over time.
In 2026, credit card processing fees continue to rise, but that doesn’t mean you’re stuck. If you’re paying more than 2.5–3% on average per transaction, it’s time to compare providers and consider switching to a zero-fee or low-cost option.
Tip: If you’re using flat-rate services like Square or PayPal, look closely at your volume. Higher sales often mean you’re leaving money on the table with per-transaction fees.
2. Audit Your Point-of-Sale (POS) and Equipment
Technology moves fast. Is your POS system keeping up? Does it support tap-to-pay, mobile wallets, and quick integrations with your inventory or CRM?
If your terminals are outdated, glitchy, or don’t offer modern features, it could be time for an upgrade. Many newer systems offer sleek hardware with cloud-based software, meaning you can manage sales and payments from anywhere.
Tip: Ask your processor about hardware bundles or equipment financing options if you're on a budget.
3. Verify PCI Compliance & Fraud Protection
Small businesses are increasingly being targeted by fraud. Is your payment system PCI compliant? Do you have EMV chip card readers in place?
2026 is expected to bring even more regulatory scrutiny and consumer expectations around data privacy. Stay ahead by making sure your system encrypts transactions, tokenizes data, and supports fraud alerts or AI-driven detection.
Tip: Non-compliance with PCI rules can lead to monthly fines, often $20–$100 or more per month.
4. Update Your Accepted Payment Methods
Customers today want choice and speed. Are you accepting all major credit cards? What about Apple Pay, Google Pay, or even Buy Now, Pay Later (BNPL) options?
Expanding your payment methods doesn’t just serve your customers better, it also opens up more revenue opportunities. In retail, for example, BNPL is proven to increase average order value, while digital wallets reduce checkout time and cart abandonment.
Tip: Consider adding QR code payments for events, pop-ups, or curbside pickup.
5. Set Goals to Lower Payment Costs
The beginning of the year is the best time to set financial goals. One of them should be reducing your payment processing expenses.
Whether that means switching processors, negotiating better rates, or switching to a zero-fee payment model, you don’t need to stay stuck with high fees.
Tip: At No Merchant Service Fees, we specialize in helping small business owners eliminate credit card processing fees entirely. Ask us how.
