What to Ask First Before Hiring a Merchant Processor!

Choosing a merchant services provider to process your credit card transactions can be unsettling and dangerous if you don’t know what to ask first! Merchant Processing Solutions wants to enable our merchants and potential merchants with tools to protect and help grow their businesses! When being approached by a merchant services provider, there are some essential questions you need to ask BEFORE AGREEING TO HIRE THEM. (Get this in writing!)

Who EXACTLY will be my contact person when things go wrong? If they mention an 800 number, DON’T MOVE FORWARD! Companies that employee 800# Customer Service have NO VESTED INTEREST IN YOUR BUSINESS! You are only a numbered account for them. The Customer Service person’s job is to get you off the phone and move to the next irate call!
- MPS handles all our own merchant calls. We believe that you should be available to handle your business issues while we handle your merchant services issues! If you must spend time on the phone, get someone to help, you are losing money!
Is there a contract and what does that contract obligate me to? If there is a contract, how long is it for, and are there early termination fees. Be leery of a long-term contract loaded with termination fees, specific timelines for cancelation and “liquidated damages” termination fees. These fees prevent you from cancelling early by requiring payment for the full contract!
- A good company, like Merchant Processing Solutions, is confident in their services and does not require a contract or early termination fees!
What fees will I pay by processing my transactions through your company? So many companies give you a flippant answer to this question to avoid being completely transparent about their pricing. There are some many merchant sales reps that promise the moon and low rates only to leave the company within a short time leaving you under contract with mysterious rates that you can’t get out of!
- MPS is completely transparent with all our rates, fees and any additional product or service fees. We believe that our merchants should be set up with the product that suits not only their needs but that of their customers! No one merchant has the exact requirements of another. For that reason, we listen, consult, educate and agree on the right merchant processing platform and product along with the rates and fees corresponding to that product for that merchant!
How will this company protect my business and customers from hacks, fraud and chargebacks? We are constantly reading about system hacking and fraud. These are preventable things if you work with a company that implements those measures and educates their merchants on how to protect their business! Chargebacks are largely preventable and disputable if the merchant heeds the advice of a good merchant process company.
- MPS sets up its merchant with ONLY Encrypted and secure products and services that protect both the merchant and their customers. We use two-step verification to keep your business information safe.
- MPS set up ALL of our merchants with PCI Compliance measures. We educate our merchants in how to recognize and avoid fraud. And finally, unlike all other merchant processing companies, we actively participate in helping our merchants dispute chargebacks. We help them avoid AND how to fight them and WIN!
How will our partnership make my business easier, better and more profitable? Many merchant processing companies and banks offer only ONE product or service and expect to shove ALL businesses into this product, even though it’s not the right fit!!
- Example 1: You have a website, and they want to sell your “in-person” terminal! You will have to key-enter the card information into the terminal creating high rates!
- Example 2: You are a remote business and must call into your office to get cards accepted. Or you are out of wireless coverage and have no way to get paid. MPS has solutions for these potential issues!
- Example 2: You were sold a terminal for your store and now you need a gateway and shopping cart. You then go to a different provider and pay more fees and they need to reconcile 2 accounts each month to know your full revenue, notifications, chargebacks etc.
- MPS listens, learns, educates, and helps your determine the best product to meet your current and future needs. We also install, train, monitor progress, and become your trusted partner with all merchant processing issues that may come up!

Not all merchant processing companies are like MPS! We are professionals that have stacked our reputation on doing the right thing for ALL our merchants. If you are currently dealing with the wrong processor or wrong product, call us! If you are a new business, let us help your determine the best product and service to grow your business!