Three Problems Stand Out in The Merchant Services Industry!

Ginger HollowellUncategorizedLeave a Comment

Merchant Services
  1. Dishonesty in Salespeople Presenting Merchant Fees for Payment Processing!

  1. 1-800-IGNORE-ME for Customer Service!

  2. Sneaky Rates and Fee Increases Over Time!

Refer Us to Solve One of These Problems & Receive a $100 Gift Card by Filling Out a Message on our Contact Us Page 
  1. Dishonesty in Presenting Merchant Fees for Payment Processing

 Every merchant wants low rates.  The challenge for merchant services is in understanding your current rates presented on your merchant statement and understanding the rates that are quoted so you can compare.  If you could solve both of those challenges, you could make an educated decision on choosing your next credit card processor.  You can get this education in our blogs.  We suggest you start with our blog,  Understanding Credit Card Processing Rates and Fees.  

  1. Customer “Non-Service” and 1-800-IGNORE-ME

First off, most salespeople get you signed up for processing, and then you never hear from them again.  They tell you that you have 24/7/365 customer support and give you that phone number.  However, most of the time that phone is dialing a foreign country with people reading from a script and speaking English as a second language.  They do not know who you are, how long you have been a customer, or how much money your merchant account is worth to the processor; nor do they care. Their salary does not depend on servicing the account.  They get paid by the hour.

The salesperson’s commission is conditional on your loyalty as a client.  The salesperson makes a small piece of every transaction, which contributes to building his or her portfolio.  The salesperson and the processor have added a termination fee in the case that you leave their lousy service.  That is put there to hold you to the “contract” should the customer “Non-Service” reps leave you frustrated.

This model is a system of “Non-Service”.

The salesperson’s job is to keep signing up new people and hoping the customer service doesn’t mess you up too bad and you, the merchant,  keep feeding his commission.

But who gets left behind here?  The answer is obvious.  The Merchant gets stuck with “Non-Service”.  When your POS system is down, or there is a mistake on your merchant statement, or a customer thinks they have been double charged, you sit on the phone, for goodness knows how long, struggling to interpret an accent with someone who is not incentivized to care.  Time is expensive and the frustration is more expensive.

  1. Rate and Fee Hikes

The credit card processing industry works like this:  Sign people up with a low rate and sneak in rate increases as time goes on and hope the merchant doesn’t see the notices at the bottom of the merchant statement in small print.

Electronic Money Company does not play these games.  I raised 8 kids and my being is so into nurturing that I absolutely cannot, in any way shape or form, follow the above 3-tiered system. We have adopted our own 3 step model below.

Electronic Money Company 3 Step Model

  1. We are honest upfront and our goal is to make sure you know and understand every number on your merchant statement.
  2. We have our own in-house support. We use our 24/7/365 processor support number as a backup for us, not you.  If we need their help, which is seldom, we 3 way over there with you on the phone with us, interpret the geek, and stick with you until the problem is resolved. We answer the phone live.  If the phone lines are busy, you get a call back very quickly.  We have continual communication during the process of getting started with us.  If you call with a service request, we stick with it like the 3rd monkey trying to get on Noah’s Ark.
  3. We ALWAYS REFUSE any rate or fee increases promoted by our processor.

As a result, our customers are happy and stay with us for the life of their business.

We invite you to join our family of clients and enjoy the peace and contentment of knowing you will never have to, or want to, switch processing again.

Contact us NOW or CALL NOW to 505-296-2847!