Top 10 Objections When it Comes to Merchant Processing
The Digital Marketing Cycle- From Lead to Customer
Let’s face it, many business owners see merchant processing as a commodity. And who can blame them? The industry pumps out salespeople who sell on rates alone and have limited knowledge of the industry, its regulations, and the systems that authorize their transactions.
Objections to merchant processing has evolved over the years. Some are valid, and some are merely used as a polite way of expressing they are not interested. With that said, I think this a good time to share my “Top 10 Objection and Rebuttal” list with Priority I.S. Partners. Hopefully this document will help you when you come across merchants who politely tells you they are “not interested.”
Card Brand Rules Every Merchant Should Know
Digital marketing has evolved and will continue to change for the unforeseeable future. In its infant stages, a business could see a good bit of traction from Search Engine Optimization (SEO) alone. Fast forward to recent times, many companies have had to find creative ways to drive “clicks” to their site in order to win the “Google Game”.
It's a Better Time Than Ever to Offer EMV
As POS and credit card technology changes, so do the requirements from Visa, MasterCard, Discover, and American Express. Merchants rely on their merchant processor more than ever for information on how to remain compliant with bankcard regulations. Doing so can help the merchant avoid chargebacks and fees passed down from the four major card brands.
Minimum Purchase Amounts
Merchants are allowed to require a minimum amount in order to run a credit card, however there are a couple rules they should know:
Understanding the Differences Between Cash Discounting and Surcharging
The topic of EMV is not new among the POS and merchant processing industry. But while the discussion has lost a bit of steam, the opportunity for merchant processing and point-of-sale vendors hasn’t.
It is no secret that the adoption rate for EMV has been slower than expected. What is more surprising is the number of merchants who still do not understand what EMV is or the risks that are involved with not accepting chip cards. The industry as a whole has seen an influx of fraudulent chargebacks due to consumers who are now savvy enough to identify merchants who do not accept EMV. Cardholders looking to take advantage of merchants who still swipe has become more common costing merchants millions of dollars a year in indisputable chargebacks.
Preparing for a POS Down Crisis
It’s a hot topic now: Cash Discounting vs Surcharging. How are they defined? How are they implemented? What are the repercussions of running one of these programs improperly?
There is a shift in merchant processing and many processors are scrambling to understand Cash Discounting and Surcharging as the rules become clearer on how merchants can pass the processing fee off to the cardholder when using a credit card.
Why Transparency Should be Important to ISV/VARs and Their Merchants
Even the best POS systems go down. It is not a matter of if, but when. Preparation and practice for this type of event is key. The best thing a business can do is to get ahead of the situation to mitigate the damage and reduce the financial impact.
Five Keys Choosing the Right Merchant Processor
There’s little doubt that today’s technology is complex, and ISVs and VARs must embrace the ever-changing POS and Merchant Processing Industry to stay relevant. Dig a little deeper and one can quickly see that there are other elements at play. There is an increasing need to offer downstream transparency, from the processor to the merchant.
The Seven Benefits of Partnering with Priority I.S.
Selecting the merchant processor that’s best for your business is not an easy task. Too many merchants fall into the trap of simply looking for the provider with the lowest quote only to find themselves paying more after exposing hidden processing fees. Over time, this can turn into a very expensive mistake.
A New Year, A New Office!
Control What Matters the Most—Your Ability to Succeed!
It doesn’t really matter what business you are in today—everyone is looking for ways to be in control of data. Companies want to make a significant impact and stay in-step with advancing technology and do it securely. As we move into the new year, competition will only get more intense.
To better serve you, we have designed our space with agility and service in mind. During the build out, our focus was to provide our team with the environment and tools necessary to help you succeed. We are incredibly thankful for all of our partners and can’t wait to make 2019 an amazing year!