Not All Information On Merchant Account Providers Is Accurate
When you’re looking to grow your business, chances are you’ve researched merchant account service providers. Along with solid information regarding the benefits and services, there are a host of myths. Businesses can grow with the help of a merchant service provider, but some will hold back from making that decision. We’ve cleared up the five most common misconceptions about merchant account service providers to give you the right information.
Merchant Account Service Providers are Scammers
The easiest way to see if the company you’re researching is a scam is to check the Better Business Bureau or another independent review site. These organizations offer an insight into the various merchant account service providers, so you can make an informed decision before you sing a contract. Along with believing merchant account providers are scammers that will take your money, looking at the services offered can help separate the legitimate companies from potential frauds.
Accepting Credit Cards is Cost-Prohibitive
Charges and fees will be associated with accepting credit card payments. Compared to the number of customers who pay with debit or credit cards, the fees are insignificant. Customers online and in-store prefer to use their credit and debit cards. Many consumers don’t carry cash with them, and using a check for daily purchases is unheard of thanks to the potential fraud risks.
All Merchant Account Service Providers are the Same
This is perhaps one of the biggest perpetuated myths out there. Some merchant account providers offer built-in security features, may cater to just one industry, offer innovative in-house technology, and more. Not all providers offer the same services, so it’s important to do your research before making any type of decision.
You’re Better Off Working With Your Local Bank
Local banks like Wells Fargo and Bank of America may offer business merchant account services. It might seem like a good idea to keep your accounts with your current financial institution, but chances are you won’t get the best rates. Merchant account service providers have relationships with different banks in multiple tiers to give your business the best possible connection.
Your Business is Better Off With the Largest Merchant Account Provider
It’s easy to go along with the thinking that the bigger the provider, the larger the service offerings. This may be true, but the price tag associated with those services will likely be larger. Size shouldn’t be the deciding factor when selecting a provider, as smaller companies may offer better rates and customer service. With larger providers, you may be just another number and may not get the right support for your business.
Grow Your Business with TOTAL-APPS
TOTAL-APPS is a full-service merchant account provider that enables your business to succeed. Not only are we PCI-compliant, but we have a wide variety of payment processing solutions, built-in security features, and a live, 24/7, US-bases customer support team ready to help with any of your needs.
Contact TOTAL-APPS today to find out how they can help protect and grow your business.