Merchant Services and Credit Card Processing Advice:
As I've previously worked for a Mercury and First Data ISO, retailers often ask me for some recommendations when it comes to selecting who will handle your merchant services. Here is what I recommend:
- Obtain three quotes from three different merchant services companies
- Try to use a company with a local presence whenever possible
- Do not use anyone that requires a time based commitment, has a buy-out clause/cost, or unusual charges like $20/month for online statements
- Read through the contract and ask questions
- Don't let anyone pressure you in to a decision (if your business is opening soon, you can always use Square until you have time to make a more informed decision)
- Check references
- Avoid the following based on personal experience: Merchants Warehouse, Vantiv, Mercury, WorldPay, and Cayan
- Consider the following based on personal experience: Gravity Payments, Heartland, TSYS, First Data, BankTek, Smart Merchants, North American Bancard (NAB) and Beyond.
I am more than happy to provide references and make introductions if you wish. We would need to chat over the phone so I can gather some basic information about your store. There are good, bad, and mixed merchant services companies out there so please let me know if you need some help navigating.
It is easiest if you contact me on my cell at 208-340-5632 or via email at email@example.com to discuss in more detail. Note that your business must be located in the United States for me to assist you.