2 Dec

What to Look For When Choosing a Merchant Services Company

You want what’s best for your business, and that’s no different when it comes to choosing a merchant services company. After all, that company and their products will determine how and when you’re able to accept your customers’ payment, which affects your bottom line as well as customers’ experience at your business. What should you look for when choosing a merchant services company?

A variety of payment processing options
Consumers today don’t just rely on cash to make purchases; they also use credit and debit cards, Apple Pay and Google Wallet, as well as online orders. If your business isn’t equipped to accept these payment methods, you’re likely missing out on sales.

When choosing a merchant services company, make sure you look for one that offers machines that are able to accept a variety of payment methods. Additionally, choose a company that makes payment processing convenient. For example, in addition to retail and Point of Sale systems, Merchants Bancard Network offers wireless machines that you can take on the go, machines that can be used with a smartphone or tablet, and electronic gateways for online purchases.

Low rates
Owning a business comes with lots of expenses – we get it. That’s why we keep our rates towards the low end of the industry. When looking for a merchant services company, make sure you’re not being overcharged for payment processing equipment.

Helpful programs
Having modern equipment at an affordable price is important, but that’s not all you should look for when searching for a merchant services company. Look for a company that offers programs that save you money and make your job a little easier.

For example, MBN’s cash discount program allows you to save money by passing monthly interchange fees on to card-using customers and offering discounts to customers who pay with cash. You can also use our cash advance program, which offers cash advances against future sales. Instead of taking out a loan, you simply pay us back with a percentage of your credit card transactions.

Gift and loyalty programs
Make sure the merchant services company you choose offers gift and loyalty programs, which encourage repeat business and increased consumer spending. Gift cards should be able to support credits, refunds, rebates, and incentives, while loyalty programs should make it easy for customers to see their current point balance.

Experienced staff
Last but definitely not least, the right merchant services company will be an established provider in the payment processing industry with agents who are knowledgeable and ready to help. For example, MBN has more than 30 years of experience. We put relationships with customers first and will always provide you with exactly what you need and never sell you anything you don’t. Make sure you find a company you can trust.

It’s important to find a merchant services company with the products and know-how to help your business thrive. By focusing on these five key elements, you’re likely to find the right company for your business.