Many businesses get fed up with their payment processor for a variety of reasons and it’s not surprising when you review them. If you’re getting these kinds of problems then maybe you should consider switching your provider:
Merchant fee is too high
Non English speaking customer service
Lack of 24hr customer service
No replacement card machine service
Poor quality card terminals
Why should I put up with poor rates and poor customer service'
There is no reason to put up with this poor level of customer service. However, many people think that they have to put up with this because they can’t get any better. Merchants like you often feel like they have to get their payments processed through their bank simply because they have a business account there.
This is not true. You do not have to use your bank and put up with poor rates and poor customer service. Just because you get your business banking done there it does not mean you have to get your payments sorted out there too.
How can I reduce my merchant fees and get good customer service'
You switch provider. If your bank deals with your payments then you can certainly get a better rate and much better customer service from a specialist payment provider. These payment providers get special deals with major banks and because they get such a good deal they are able to pass on some of that saving to you, the merchant.
What else can I get from a new payment processor'
You should really be able to get everything in the list below if you choose the right payment provider.
Capped merchant fees at a good rate. You should also be able to get these fees even lower if you sign a longer contract for payment processing. Capped fees means that you pay the same fee on your payments for the duration of the contract with no rises.
Excellent quality card terminals. These can range from standard Chip and PIN machines in your place of business, to wireless card machines, and even mobile card machines that allow you to take payments wherever you are.
24hr customer service by English call operators. You should also be able to talk to someone who speaks good English at any hour of the day and get helpful advice about your merchant account or card terminals.
Replacement card machines. Replacement machines should be available in an emergency. A payment processor that offers this service is very aware that there are stores and other businesses that are open at unusual hours, often through the night.
How can I switch now'
If you get the right payment processor it should be as easy as calling them on the phone and getting them to do it for you. It shouldn’t cost you anything to switch and you should be up and running, paying less for a better service in a very short time.