How a Good Merchant Services Program Keep Clients with Your Bank
Is your current processor for merchant services shrinking your residual income and causing your clients to put their deposits into another bank? A good merchant services program should not only keep your merchants with your bank forever, but grow your portfolio of merchants doing their card processing with you as well.
So how does a good merchant services program keep clients with your bank? The answer is simple – honesty up front, low rates, ongoing white glove service, and communication.
Honesty
A good merchant services provider delivers honest, upfront disclosure of fees, and is not intent on keeping the fees confusing in order to pull the wool over your clients’ eyes and overcharge them. At Electronic Money Company, we pride ourselves in being honest, and telling the truth about all processing fees.
Low Rates
A good merchant services provider prices their rates, transaction fees, and monthly fees rather low and highly competitive. Electronic Money Company’s goal is to save a merchant money over their previous processor. We explain our comparative analysis so they understand it, and we never raise our fees. (Has your current processor raised their rates and chased away your clients to a processor with lower fees?)
Service
A good merchant services provider has a live person answer its customer service and support line. At Electric Money Company, we do not have 10 prompts to push, and we don’t put our merchant’s on hold! We answer the phone live in person, we don’t need our customers to look up their merchant ID number, and we don’t need our customer to search for a terminal model number because we have this information at our fingertips. Electronic Money Company has its own customer and technical support staff, in addition to the 24/7/365 processor telephone line. We tell our customers to call us first, and we know our customers by name and voice, and they know us by name and voice. We also have a chat line on our website for our customers’ convenience.
Communication
A good merchant services provider has the ability to board your merchants in 24 to 48 hours, and present a simple and easy-to-understand fee structure and monthly statement. An astute provider also has the faculty to communicate and carry out custom quotes for your clients. Electronic Money Company provides detailed email communication with merchants from the first inquiry, to the application, and on through to the boarding process.
A great merchant services provider increases your residual income because your business clients will never want to switch to any other provider of merchant services. Because of our service and support, and our policy of no rate increases, we keep our merchants for life. Call 505-296-2847 to start a conversation today!
