Monday, October 3, 2016

Merchant Services/Credit Card Salespersons

OK - I already hear the groaning and comments related to salespeople who represent merchant services/payment processing companies.  Keep in mind that I do not represent any of these companies (I stick with just point of sale system and not payment processing services) but have learned a lot over the last 18 years working with what I call merchant services salespeople. Some advice when choosing the best merchant services salesperson (and company):

  1. Look for transparency (all fees are disclosed and no unusual fees like PCI compliance charges, buyout charges, statement fees, etc).
  2. No contracts (needs change - no sense having to pay $500 to get out of a contract)
  3. No equipment leases (do you really want to pay $1500 for a $500 piece of equipment?)
  4. The salesperson is not afraid to say "no" or "I will need to check on that and get back to you"
  5. The salesperson meets any pre-sale commitments
  6. The salesperson and company have already worked with other similar businesses in you area making for some easy reference checks and established familiarity with your business
  7. You are working with someone with a local presence that can't hide behind email or voice mail
  8. No unreadable fine print on any paperwork
  9. The salesperson does not pressure you into making a hasty decision or set short deadlines
  10. Rates are easy to see and match your business data (like the average transaction amount)
If you think that the above list is unrealistic - its not. These are some of the standards that I have required over the years and I've never run into an issue with any reputable merchant services salesperson/company balking at the above list.

I've found that the right merchant salesperson can make all the difference when it comes to dealing with merchant services. It also helps me out as the retail point of sale systems that I work with go 'hand in hand' with what merchant services companies offer making it critical for me to have someone that I, and my customer, can count on.

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