Understanding Merchant Services from the Viewpoint of a Credit Union!

Ginger HollowellAffiliate PartnershipsLeave a Comment

Understanding Merchant Services from the Viewpoint of a Credit Union

Merchant services from the viewpoint of the Credit Union are complicated.

On the one hand it is supposed to spin off a revenue stream. On the other hand, it is challenging to support an add-on service of which you know little about. You get complaints from members regarding various merchant services issues ranging from slow deposits, complicated contracts, high fees, poor customer service, and so on…

It makes you wonder if the Credit Union shouldn’t just let its members find their own merchant services solution. Maybe your experience is that all processors provide the same lousy service as the next. Perhaps it is simply easy to just roll into the next three-year contract with your current credit card processing services provider.

Here’s the problem with that way of thinking.

If your credit union member goes elsewhere for their merchant services, it might be through another    credit union. Next thing you know your member is asking for assistance, and when they are finished helping your member, they will probably ask if they need a business loan or other services, and there goes your member.

Merchant services is the unsung hero at your Credit Union, and when done properly, will create revenue and keep your members where they belong — with you.

Also, has this happened to you?

You start out with a Merchant Services Program offering low rates and superior service for your members with a three-year contract, but low and behold, the processor has the power to raise rates and throw in extra fees for your merchant members not originally presented in your contract.

At the same time, service is assigned to a ‘Special Agent’ just for your members, but this ‘Agent’ is either removed and replaced like a revolving door or ends up with so many relationships that you and your members simply evaporate into another phone call inside a 1-800-IGNORE-ME system?

Well white glove service from experienced agents does exist. Electronic Money Company provides superior service from highly skilled agents who are nurturing, patient, quick-responding, and will have your back with honesty before and after the sale.

Electronic Money Company provides easy pricing to attract merchants with no hidden fees and no termination fee, plus most of all a ‘No Rate Increase & No Surprise Fee Guarantee.’!

Don’t make the mistake of rolling along into another three-year contract with your current credit card processing provider. You and your clients deserve better.
Call us today at 505-296-2847 to start a conversation!