Common Questions on Switching Card Processing Suppliers

Posted By Merchant365 ATM Placement / Merchant Services / Card Processing, FAQ / No Comments

Thinking Of Changing Your Card Supplier? Here Is an Efficient Method

You may have noticed that the ISOs are offering better rates as compared to banks when processing your card. The common question that one could be asking is whether these ISOs are dependable enough. What the clients need to understand is that the ISOs are not dealing with transactions. Their bank partners do it. After recruiting the merchants, they help them to obtain an account or a gateway for online payments.

Why is it cheaper to use ISOs?

Because of the huge volumes that they handle, the ISOs get discounts from the banks. They, at the same time, do not need complex technology for the transactions. As a result, they make the merchant services affordable. Those who offer Alberta terminal services can make more coins with this lower rate on all merchant services. At the same time, it becomes easy for their SME merchants to enjoy the discounted rates otherwise accessible only by corporate businesses directly from the banks. Low-income business people benefit from this arrangement, and they can now afford to offer their clients services. If you would like to enjoy cheaper Alberta terminal services with your new supplier, do not hesitate to make the changes.

You can arrange for a smooth transition

To have a smooth changeover, the merchants should sign up for installation before terminating the services from the old supplier. The savings involved is worth the trouble of filling the new forms. The new supplier will not be able to use the first data that you submitted to your supplier. With the increasing competition, many of the suppliers are working day and night to ensure that services are not disrupted by a technical failure. There is no fear of losing any first data that you collected from your clients while doing the changeover.

The installation is a DIY project

Terminal installation is now user-friendly unlike years back. The installation instructions are provided, and in a matter of minutes, you will be ready with your terminal once you receive your pack. Besides, the suppliers offer a help desk in case you are stranded. It is another way of saving on the installation cost as no one will charge any setup fee. The old suppliers will advise on what to do with the old terminal. They can ask you to return it or simply dispose of it if you have used it for four years and over. The first month of transition might cost the merchant two payments from both the suppliers, but that will be all. There is nothing like transferring the first data to the new machine. You only need to pay it off and switch to the new one.

Cost of terminating the supplier contract

Sometimes the supplier may charge some fee for terminating the contract before its term. What you pay for the remaining term may not be a huge burden compared to the benefit of using a cheaper supplier. Sometimes the new supplier may offer to pay part or the entire early termination fee.

You can change your online payment acceptance supplier without rebuilding your website

You can switch your merchant supplier without rebuilding your website. For online payment, you need either of the two products. That is either internet merchant account provided by either the ISOs or the banks or payment gateway using the popular SagePay or WorldPay. In most cases, the merchants use their gateway suppliers to source for their internet merchant account. Most of them do not realize they end up paying more compared to sourcing for it independently as a result of the transaction fee. All gateway payments are compliant with internet merchant account. When it comes to cost, it is more prudent to focus on internet merchant account other than resorting to using a payment gateway. The cost of payment per month may be more or less constant for all, but the cost of using internet merchant account can highly differ.

You should not hesitate to switch to the internet merchant account for a lower fee while still with your payment gateway. Technical effects of the switch are minimal. No clients will be inconvenienced in the process of change over. Since the payment gateway providers are the same ones who will provide you with internet merchant account, they will support you in your new move. At the same time, switching the payment gateway provider can be still not a complicated matter. Integrating a new payment page into your website may not be as complicated as it may sound.

In essence, you should not continue paying for the same services at a high rate when you can get them at a more affordable rate. The long-term saving is worth the seemingly high expenditure at the time of changeover. Give it a try now and experience the low rates the rest of your business term. All the Alberta terminal services should make use of the new rates for their merchant services.

Contact us today and find out how we can provide you with the right merchant services for your business needs.

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