However, each of these companies has subtle distinctions in terms of its exact features, making some more suitable for your business model than others.
Here are five items worth considering when choosing a mobile payment processing solution:
1. Security: All mobile payment processing solutions claim to be secure. But are they really? If you are using Wi-Fi and processing payments, you find yourself in grave danger of compromising your private data, as well as that of your customers. In addition, this could potentially do serious harm to your business. Do your due diligence and make sure that your mobile payments processing solution is staying up-to-date with the most modern advances in payment security. You do not want to choose a company that is using yesterday’s technologies to combat criminals who are using today’s sophisticated means to steal your valued data.
2. Support: You don’t limit your business activity to a nine-to-five day workday and neither should your mobile payment processing solution. Before choosing one, check that it is always available, in some form at least, to manage your issues and provide vital payment processing support whenever you need it.
3. Customization: Think beyond the limitations you envision today. This certainly applies to your business model and it is also relevant to your choice of a mobile payments processing solution. Realize that your small business may soon grow into a large one and that the payment solution’s limited functionality, which is sufficient for your business in its current form, may be totally inadequate in the near future. Pick a company that allows you the flexibility to customize services according to your business’ needs.
4. Mobility (Really!): Yes, they are all mobile and can be accessed from your smartphone. But you’re on the go and your mobile payments processing solution should be too. That means allowing ease of use from any laptop or any mobile device, anywhere. Sounds simple but some of these companies limit your access to one mobile device.
5. Flexibility: You might want many employees having access to the systems, but not all on the same level. Ensure that your mobile payments processing solution provides you with the flexibility to allow multiple users to access their services but restrict the system’s functionality according to what you want to grant each individual the authority to do.
Merchant 365, an independent broker for mobile payment processing solution company, First Data, specializes in payment solutions optimization in Alberta, Canada. In addition to providing Alberta with ATM machines, this company, through First Data, offers various merchant services, particularly those relating to mobile payment processing. Its wide array of services includes industry leading Alberta ATM machines placement, payment processing and transaction monitoring, constant customer support, comprehensive cash management, 24 hours a day, 7 days a week customer support, and extensive consulting services. When examining your business’ needs, as well as what you should be looking for in a mobile payment processing solution, Merchant365 Alberta ATM machines and merchant services should be given serious consideration.
Contact us today and find out how we can provide you with the right merchant services for your business needs.
– Photo Credit: Pixabay.com
It is high time for your organization to consider looking at the expenses of operation. One of the best places to discover savings is the merchant account fees. Continue reading to find some fantastic tips regarding merchant services.
It is a vital area, and you must be careful when looking for someone to represent you. The person that acts as your rep should be someone you can trust. Some salespersons can take advantage of the business. Also, it should be someone with the experience that is required in the field.
Understand pricing models that are common
Regarding processing of credit card, there are pricing models that are standard. They include tiered pricing, flat rate, and interchange or the cost-plus pricing. Some of the processors that made flat-rate pricing famous are PayPal and Square. For Merchants who process small volumes monthly, flat-rate pricing could be the best. Though you may pay more per every transaction, you will be able to comprehend everything, and in many times there is no ancillary fee. There are three levels or even more at times for tiered pricing. The three features are mid-qualified, non-qualified and qualified.
Asking the right questions
Regarding a merchant account, there may be many ancillary fees. It is therefore important for you to ask the right questions at the time of negotiation with a new provider or even up front. Some of the issues you should ask include the following:
• Whether the fee charged is annual
• Whether you are paying monthly minimum penalty
• Whether what you are signing is a contract term and what the early termination fee is
• Knowing the monthly service
• Knowing the batch fee
• Knowing the American Express transaction fee
• Whether there is a set-up fee
• Whether there is application fee
• Knowing the PCI compliance fee
• Knowing the funding times
• Whether you have Amex One Point
• Whether your charges will be debited monthly or daily
• The type of online reporting that you will be availed
• Whether there are fees regarding reprogramming of your existing payment gateway
Understand contract terms that exist
If you discover that the processor currently has been overcharging you for years, but there is another processor that you can trust hence you want to move the business, you can consult with the new processor. They may decide to split the termination fee if you agree to sign a contract with the new processor. Merchant 356 is one trustworthy merchant that you can take advantage of and be successful. It is therefore highly encouraged to use Merchant 356 and experience the best merchant services.
When it comes to merchant services and payment processing, there are many misconceptions out there. These can cost your business money if you believe them, which is why it’s important to separate myth from reality. Here are five of the biggest myths and the truth behind them.
1. Services Are the Same Across All Merchant Processing Companies
This couldn’t be further from the truth, as one merchant processing company could offer vastly different features and services. For example, one may help you with terminal setup while another does not. One may not have cash advances at their terminals or won’t offer gift card programs. It’s important to verify that a merchant processing company has the features your business needs for right now and in the future.
2. Merchant Processing Companies Have Similar Pricing
The amount you pay for merchant processing can vary significantly depending on the company you choose. Each will have its own standards regarding what constitutes a high-risk company, and they will also have their own pay scales. This is another reason why it’s smart to check out multiple options.
3. You Can’t Get Out of Your Contract
Think that you’re locked in once you sign a contract? There’s often a way out, and when you’re switching to a new merchant services company, the new one may help you get out of your original contract.
4. There’s No Need to Pay for a Terminal
There are plenty of companies that provide standard terminals free of charge, but this is one of those situations where you get what you pay for. A modern, high-grade terminal will have more features and be better for your customers.
5. It Won’t Impact Your Bottom Line If You Fail to Accept Certain Payment Methods
If you don’t accept certain payment methods, you’re cutting down on your business’s potential profits and risking dissatisfied customers or potential customers. You’re going to have customers who wish to pay with their debit card, a gift card and a payment app, such as Samsung Pay or Apple Pay. Not everyone will have an alternate payment method available, which is why it’s best to accept as many payment options as possible.
It can be tricky to choose a merchant processing company, but here at Merchant 365, we can handle all your merchant services needs. Give us a call today to get started.
Designing, maintaining patents, and manufacturing goods is difficult enough, not to mention time-consuming and costly. Many business owners don’t have time for all the functions of their business but have no choice to pick what they do or the business may risk failure. Distributing and selling a merchant terminal is greatly aided by the use of resellers. Here are 5 reasons why you should consider using resellers for merchant terminal services.
In today’s world, it’s difficult to know what people, businesses, and situations are worthy of trust. Being mindful of opportunities of fraud or poor representation should be considered at all stages of contracting merchant terminal services to third parties.
Every company can have a sales staff, making attempts to securing a top-notch sales team difficult. Because other companies specialize in sales, as compared to crafting a merchant terminal, getting help from resellers in tapping into the potential of their sales staffs is undoubtedly worth it.
Resellers often work in groups, distributing products throughout cities, regions, and nations. A vast, connected network of sales agents will help boost brand awareness for your Alberta terminal services. Manufacturers experience less success and higher expenses than do organizations specializing in reselling goods.
Providers of Alberta terminal services usually get raw materials from a supplier. Terminal companies then sell or lease out their equipment to an external agent. There are three entities involved in this scenario, creating a three-deep vertical market, or chain of suppliers and users of their outputs.
Piggybacking off resellers’ sales staffs results in not dealing with employment contracts and other problems associated with hiring, employing, and housing employees.
Our professional team at Merchant365 excels at signing contracts with resellers with custom agreements to fit needs all involved parties. Contact our experts today to secure quality reselling contracts ASAP.
– Photo Credit: FreeImages.com/Lotus Head