Top 10 Questions to Ask a Merchant Processing Company
You’re probably wondering, which of these solutions is suitable for me?
The answer to this question depends entirely on your business, your customers, and the experience you want to provide for them.
Without getting to know your business first, we can’t give you a specific recommendation.
However, we can help you discover the different options out there, so you can choose the best one for your business and customers.
Choosing the best payment processor and merchant services provider is an essential decision for your business. You need a provider who upholds PCI security standards, offers modern merchant services solutions, and provides secure payment processing.
Electronic Merchant Systems (EMS) has over 30 years of experience serving businesses like yours. Throughout those years, we’ve learned that it can be challenging for merchants to find a provider they truly trust.
So, we’ve compiled some questions you should ask any potential merchant provider before signing on the dotted line. And, since we know ourselves best, we provided answers based on the services and solutions EMS provides.
How secure are your services?
You should always partner with a merchant services provider who cares just as much about security as you do!
At EMS, PCI Compliance is very important. We have been a certified Level 1 PCI Service Provider for more than ten years, which means we hold our services and solutions to the most stringent industry security standards. You will not have to worry about PCI non-compliance fees. We are as serious about your transactions and the health of your business as you are, so we always ensure the services and solutions we provide are secure.
How long will it take to get set up with your technology?
Setting up a payment terminal should be as easy as “plug and play.”
We believe you should be able to keep your focus on your business and sales opportunities, and your workday should not be interrupted by your merchant service provider. Accepting digital credit card payments and different card types doesn’t need to be a complex, lengthy project. Many payment processors can get you approved for a merchant account in under two business days. Your equipment should be shipped to you in under two business days as well.
Getting the hang of new technology from your merchant service provider requires a bit of a learning curve. However, a good payment processor should give you all the necessary resources to ensure your experience is hassle-free and seamless.
What is the actual processing fee?
When signing up with your merchant services provider, make sure you understand if you’re getting an “introductory rate” that could increase at some point.
Ask if there is a rate guarantee that the payment processor can offer. As we mentioned earlier, credit card processing rates vary depending on the type of credit card transaction, the card used, and your monthly processing volume. If the processing rate offered is lower than what you expected, be sure you know which transactions or card types the rate does, and does not, apply to.
Clarify if the processing fee is a flat rate or a percentage of your transaction volume. How a payment processor calculates their fees can make a big difference in what you end up paying monthly. You can also inquire about termination fees and cancellation fees. Try to choose a merchant services provider that offers interchange-plus pricing, which is widely regarded as the most affordable way to accept credit cards.
Can I read reviews on your merchant services company?
A merchant services company may sound competent, but how can you be sure? Check their reviews.
EMS has been around for more than 30 years and has gathered more than 1,000 Google Customer reviews. We maintain a 4.7/5-star average rating and have an unmatched track record in the industry. We have not found a competitor that comes close to our review count and ranking.
Do I need to sign lengthy contracts?
The relationship between you and your merchant services provider should be considered a partnership. While EMS does require a merchant agreement, we believe that transparency is the key to keeping this partnership healthy. You won’t find any hidden fees or contract clauses when you work with us!
What You Should Know About Merchant Services
A recent study found that 41% of customers avoid certain stores that don’t accept the payment solution they prefer.
Key Takeaways You Will Get From This Article
1. Merchant services are the services a business uses to accept and process credit and debit card transactions electronically.
2. Merchant services begin when a customer hands you their credit card and ends when the funds are deposited into the merchant’s business bank account.
3. A good merchant services provider will equip you with a seamless solution for your customers, simple for you, and secure for everyone.
4. When choosing a merchant services provider, the key things to watch out for include ongoing or hidden costs, interchange fees, how fast payments are processed, and the continued support you can expect to receive if things go wrong.
To stay competitive and relevant, you need to offer merchant services payment options that fit their lifestyle. We’re here to point you in the right direction.
Electronic Merchant Systems offers payment method solutions, creating a simple and seamless payment experience for your valued customers. We empower companies with mobile processing, web commerce, and POS Solutions.
Keep reading to learn about merchant services solutions and how they can help your business thrive in 2022 and beyond.
What Are Merchant Services?
Merchant services is a broad term.
At their core, merchant services are the services a business uses to accept and process credit and debit card transactions electronically.
There are many ways to accomplish this today, making the term “merchant services” quite broad.
It could refer to anything from full-scale point of sale solutions to online payment gateways, mobile payment acceptance tools, and more.
A merchant services provider is the company that provides the hardware and software involved with accepting and processing payments.
Electronic Merchant Systems, for example, is a leading merchant services provider.
As such, we provide merchant services, products, and solutions, including:
