Sick of playing the “merchant service” game? Unfortunately, most merchant service companies are the same! They tend to offer: a) lower rates and / or b) better equipment. But there’s always a catch (otherwise they don’t make as much money)! Typically, they collect large margins by charging hidden fees and / or by leasing equipment for lengthy terms at unnecessarily high rates!
Don’t allow your merchant service company to rob you blind! It’s crucial to know which questions to ask and to always read the fine print. Biznis Resource can help!
Always EXPECT / DEMAND the following:
- Contract Buy-out (to leave a contract)
- Cash Payout Promise (to beat current rates)
- Low Rates (that meet will provide savings)
- No Hidden Fees (including bogus and redundant fees)
- Month-to-month Term (no contract)
- Accepts All major credit cards (Visa / MasterCard / Discover Card / American Express)
- FREE Equipment (restaurant equipment may require an additional charge)
- FREE Virtual Terminal (to process payments from anywhere as long as you have WiFi or cell service)
- Clear and Understandable Contracts (in layman’s terms and without any hidden increases)
- Additional Features (up-to-date Analytics, as well as other value adds)
- Rate Match Guarantee (willingness to match future, lower bids)
Other merchant processors purposely only explain the “Interchange” option or the “Cash Discount” option, because their specific business models capitalize on one or the other. At Biznis Resource, we will explain all of your merchant service options, so you can make the best, most educated decisions for your business, non-profit / organization, or school!
Merchant Processing options include:
- Interchange – This option charges merchants a variety of fees for all debit and credit card transactions (i.e., interchange fees, transaction fees, batch fees, etc.).
- Surcharge (“Hybrid”) – This option charges merchants “interchange” fees for all debit card transactions while charging customers up to 4% on all credit card transactions. Notes: a) merchants cannot make a profit via surcharge, b) merchants must disclose charges at the POS, and c) merchants must disclose charges on the receipt (per the surcharge rules of January 27, 2013).
- Cash Discount – This option charges customers up to 4% on all debit and / or all credit card transactions as a “check out fee” (usually both).
The Consultation is FREE, so there’s absolutely no risk!
Re-source today with Biznis Resource… the better, easier way!
Consider these Merchant Service books:
Re-source today with Biznis Resource… the better, easier way!