No Such Thing As a Perfect Merchant Company
I respect every professional who handles sales for their merchant processing company, but can we get real? Businesses need real people, with real solutions. Business owners should be educated about merchant processing solutions, so that they can make decisions that will benefit them for a lifetime.
I speak with business owners every day, who think they have it made with their processors. I'll tell you one thing, you shouldn't even worry about rates, and you should focus on fees and surcharges, that's where the biggest problems reside. I'm not saying people won't make mistakes, because they will, and each mistake comes with a fee. But explaining the fee schedule and providing a courtesy analysis, will not only help the prospect out tremendously, but also boost your credibility.
If your merchant company doesn't provide 24/7 customer service and technical support, run and run fast! Their are certain criteria every business owner should know, when they are shopping merchant processors...
1. Ask if accounts are set up to prevent surcharges 100%. Not to scare you, but some processors set up your account incorrectly, so they can make money from fees. Correct account setup is paramount!
2. What separates an average processor, from an extraordinary one, is customer service. Be sure that the company teaches you how to "correctly" use your hardware and/or software. Good training helps minimize risk exposure, and......FEES!
3. Ask if your account will be continuously monitored. When transactions are perpetually monitored, it helps you to process correctly all the time.
4. Find out if the company notifies you whenever theirs a regulation change. Visa and MasterCard rates change about three times a year, you should always be informed of these changes! This should include regular follow ups with your sales person/account executive
As you can see, rates are a means of marketing and advertisement. Merchant processing is often time overlooked, and this leaves the merchant at a disadvantage. Often times when something seems too good to be true, it is! Follow your business instinct, and find a company that is honest and transparent. For as many unethical processors, their are twice as many fantastic ones. Thanks
Sid Davy is an independent consultant for a Merchant Processing company located in Boca Raton Florida, with offices in Los Angeles, CA. Sid works with small to large business, educating them about their merchant processing, and providing cost effective solutions resulting in more revenue.
Email: sidney.davy@gmail.com
Business: 866-962-4462
Mobile: 954-226-8196
Fax: 561-447-7849
Added: July 2, 2008
Source: http://ezinearticles.com/