Credit card transactions now total over a trillion business dollars a year. Any merchant not getting involved with this total may be missing out on potential profits. Even the smallest company should accept credit transactions to match or rise above their competition. Your company must gain the help of a merchant credit processor to get in on the action.
When a business opens a merchant account, it often has questions about the role of the account issuer. Despite its ongoing service to a business, the role of an account provider can seem obscured by its “middle man” status, a status that most businesses wish to have clarified before they open an account. Also known as an ISO (independent service organization), a service provider plays a crucial role in the merchant service industry. Below, we answer frequently asked questions regarding ISOs to clarify their role.
To maximize their selling power, many businesses contract with a merchant service. But how much a business benefits from a merchant service involves more than payment options. It also involves how merchant services operate: with professionalism and foresight, or with ineptness. An inept service can jeopardize its clients’ revenue in several ways; particularly concerning charge back fees and customer defection. Below are six tips for avoiding these types of providers.