Every business owner wants and expects the best merchant services.
But which ones actually are? How do you find the best? With so many different providers out there, it can be difficult to decipher which ones are best for you. This article will tell you what to look for.
As a seller of goods and services in the modern world of business, you need to have a merchant account and the best in services and support.
Merchant accounts are vital for processing credit and debit card payments. Without one, you will not benefit from all of your customers who use their plastic to pay for goods and services.
A merchant account is set up either through your bank or through an ISO (Independent Sales Office).
In this relationship with the merchant account provider, your business should feel like — and be — a winner.
To be qualified as the best, whomever you’re dealing with to process your card transactions should operate in transparency. They should provide complete disclosure of any and all fees involved.
Great service costs money, of course. Everyone knows it. Everyone expects it.
Unfortunately, for small businesses like yours, a lot of companies are not always forthcoming with the cost of their services, or they have hidden fees they don’t tell you about. This kind of behavior is rampant in the merchant services industry.
And frankly, this is just bad business, wouldn’t you agree? Would you nickel and dime your customers and hide fees from them? Didn’t think so.
Another indicator of superior service is having your very own account representative assigned to you, who is always a simple phone call away! Your account rep should go out of his way to be hands on with you and answer any and all questions you have.
A great payment processing provider would also have price matching! If they want your business, they’ll be willing to get your processing rates lower than anyone else.
Every company wants to beat their competition, so of course, they’ll guarantee to match any other merchant service offer out there.
Yes, there are some very competitive rates in the processing racket. It’s a dog-eat-dog world in the processing game.
But price is never the ultimate deciding factor. Ever. Service is. The person or company who provides superior service is most often the one who changes the game.
And if they do it at a better price, too? Get right outta town! You gotta go with them!
PCI compliance can be a pain to get through, so it would behoove your services provider to give you a PCI compliance expert to walk you through the daunting thorn bushes easily, without a scratch. This makes it so much easier to be up and running without issues.
Since the entire industry has moved to the new technology, the following shouldn’t be an issue. The credit card machine(s) you get from your bank or ISO should be capable of accepting chip cards. And preferably contactless payments like Apply Pay and Google Wallet.
This machine may be a terminal or a POS system. Whatever machine you get, though, it should be EMV ready!
If you have an issue with a terminal you purchased from your provider, it should be no problem to get it replaced free of charge.
Need a cash advance for your business? Many merchant services providers are able to provide you with funds you may need to buy new supplies or inventory, or replace company-use vehicles for deliveries, for instance.
These are usually easy, low risk, low-interest loans for businesses who make over $5000 a month in sales. They’re easy for a couple of reasons.
First, you get the loan quickly deposited into your bank account.
Then, you don’t have to make set payments every month. A small percentage of your monthly volume is taken out each month at the same time as your payment processing fees. Make less money in a month, less is paid back. Make more in a month, then a bit more is paid back.
Every business faces its own unique set of challenges and circumstances, and your merchant service company should be prepared to meet you wherever you are as a business. They should sit down with you and come up with a set of solutions specifically tailored to your business needs.
When you’re looking for the best merchant services, keep these above points in mind. Look for each of these qualities and services. Most of all, look for exceptional customer service and transparency of fees.
Now… where do you find merchant services provider who has it all together like this?
Hint: they might just be a click or a phone call away (wink, wink).
Go ahead and talk to one of our amazing client service reps or check out our homepage to see what we offer. (888) 510-9871