As credit and debit card purchases become more and more prevalent, you may find that your company is missing out if it lacks the equipment needed to process these sales. If your business needs to accept these transactions, you may look to a bank or other merchant services provider to provide payment technology and manage your accounts. There may be a better option available, though. An independent payment processing company can offer your business advantages that other processors cannot match.
With greater flexibility, customer service options, and equipment that serves a diverse array of companies, partnering with the right independent processor is sure to help your enterprise make its payment systems simple and convenient, attracting customers and improving sales. Read on to find out how these advantages can help improve your company.
Flexibility
Traditional processors often won’t work with enterprises that constitute a high risk. If you or your business has suffered excessive chargebacks, appears on the Member Alert to Control High-Risk (MATCH) list, lacks up-to-date financial information, or operates in an industry that poses a “reputational” risk, you may not be able to reach a deal with a processor. Independent processors are generally more willing to provide services to high-risk clients. As a result, they tend to cater to a wide range of clients, from online retailers and brick-and-mortar shops to less conventional businesses like telemarketers, online dating sites, bail bonds, and more.
Partnering with an independent payment processing company means you can receive certain services that other processors cannot match. This often includes the ability to set up recurring billing, which offers customers added convenience and ease of mind. It also allows them to avoid late payment fees while keeping them safe from data fraud. Independent processors can also accept multiple currencies, enabling you to do business with international organizations more easily. If your enterprise needs higher sales volume allowances than a traditional processer can accommodate, or if you are a new company with hopes to attract high volume immediately, independent companies can give you an allowance that meets your requirements.
Customer Service
Even when you work with the best processors, issues will inevitably arise at some point. The true measure of a services provider is how they respond when you require support. If you work with a provider that outsources its customer service department, their employees may not have the specific knowledge necessary to help fix your issue. The right independent processor can offer unmatched support to their customers, helping them to solve any issues as they arise. This usually entails 24/7 helplines that operate year-round, as well as dedicated sales teams that can explain its company’s products clearly and effectively.
More Diverse Equipment
When merchants rent their payment processing equipment from their banks, they tend to receive simple point-of-service terminals that often don’t suit the nuances of each individual business. Organizations that need more varied programs, such as e-commerce processing, may find that their needs aren’t met by these payment options. This can create inconveniences for customers, which ultimately leads to lost sales. Independent payment processing companies cater to diverse businesses that banks cannot serve. As a result, they can offer payment options that meet the requirements of a broader client base. From point-of-sale terminals that keep your business secure to e-commerce and mobile payment solutions that grant consumers greater access to your products, an independent payment processing company can help you find the tools you need to make credit and debit transactions easier for your customers.
