If you’re like many merchants, there’s a good chance that you’ve been bombarded with sales calls from people in the merchant services industry. Most often they want you to make a switch. Their aim is for you to drop the provider you have and choose who they recommend. And they always claim they can save you more money than your current processor.
Indeed, it seems like there’ll always be someone who can get you a lower rate on credit card processing. Often the claims that they can reduce your merchant account costs are real. But constantly switching from one merchant services provider to another might not be good for business. At some point you’ll want to just stick with the rates you have – but exactly which point is that?
If your business is suffering due to your present merchant solutions provider, then the decision to stay put might not be wise. It’s important, therefore, to know out how your current choice is affecting your business and be aware of your options. Here are a three conditions in which the decision to switch merchant services might prove wise:
For better customer service
Having your point-of-sale system or credit card terminal go down in the middle of lunch rush could be problematic. Worse is when you can’t even get the issue solved because your provider’s response times are so poor. Ideally, you want a merchant services provider that provides a reliable system. And they ought back that system with awesome support. You want a merchant solutions provider who cares about the intricacies of your unique business. Truly, they should do all they can do to nurture the growth of your business. They should help you achieve your business goals.
For a relationship that’s more growth-oriented
Every business has plans for growth in one way or another. One business owner may not be interested in increasing customer volume but craves a boost in average ticket value, for example. Another business may simply aim to reduce costs and increase lifetime customer value and customer loyalty. Whatever your goal, your merchant services provider should help you achieve it in a way that’s inline with your unique business needs.
For better features at a better price
If the credit card processing equipment from your solutions provider limits what your business can achieve, then the choice to switch merchant services might be the only one that makes sense. There are several modern point-of-sale systems that provide state-of-the-art functionality. These machines take the checkout process to a whole new level. Indeed, the latest POS technology goes far beyond the basics of inventory management and bookkeeping functionality. They help businesses market better, operate smoother, and increase customer satisfaction – all on autopilot. If you’re current provider isn’t providing the best, most cost-effective solutions for your business, then make the switch. Going with different merchant services might result in a substantial enrichment of your bottom line.
It may be that you’ve been cold called so many times, told to nausea the financial savings that await, that you’re now jaded. You could also be a merchant who longs for a better rate and who has a hard time finding a better solution than one you’re on right now. Either way, it’s important to know your options and know when the decision to switch merchant services is the one that’s best for the future of your business.