Old is gold!! This phrase doesn’t go for your business as far as merchant services are concerned. Every merchant must consider discarding his or her old services with the ever-changing and forward-moving market.
Merchant service providers are many but to find the original gems is highly challenging. To know whether it’s the correct time to discard the old service provider, have a look below and be the judge yourself on where your business stands. Here we go.
Is your merchant service provider still serving you the old techniques? The merchant service provider should always keep updating so that they can match to the current market. The Debit and Credit card companies are always improving and bring changes likewise your business should also adapt and concur.
Without these updates, your company may suffer many losses in terms of the customers, reputation etc. A firm should properly update the payment options where they can serve their best services without any disappointing customers. Keep your firm updated on services and products.
Merchant usually gets a sudden shock after looking at his bank statement. Surprised fees are the most annoying things that the merchants have to face. This is the correct time a merchant should switch or leave the service provider. Common deductions are:
1.Account Application Fee
2.Account Setup Fee
3.PCI Compliance Fee
4.PCI Non-Compliance Fee
These are the services that the merchant is charged from the provider but unfortunately, these fees are not described on the very first day of the service. A merchant, therefore, is not left with any other option at this moment. So, keep your eyes wide and ears open before making the decision on your provider.