Who do you trust?

There seems to be an overwhelming tendency for merchants to default to their bank when they need to set up a merchant services account. After all, merchants trust their bank because they keep their money safe and allow them access to their funds 24 hours a day. However, a merchant services account is an "add-on" for banks meaning that they don't have to be competitive. And when that merchant needs service, they are calling a service center many miles away from their store. We do the majority of our business and service calls in person.

Case in point, I recently spoke to a retail merchant who opened her store 2 years ago. When she went into her bank (one of the largest banks in the nation) to open her business checking account, she was offered a merchant services account. Her bank went on to sell her a Hypercom T7-Plus terminal for over $500, then over charged her on her processing fees. We sell this terminal for less than $300 and use the same processing networks as her bank does. We also have one of the most reputable financial banking institutions standing behind us, so merchants can be assured that they will always be funded in the most timely manner.

The bottom line here is that we do it better than banks at a price point that is less, far less than what a merchant's "trusted partner" does it for.