Would You Want This Done To You?
One of the frustrations that every representative of merchant
services has is when they spend a great deal of time and effort
into providing the best solution and best competitive prices for
a merchant, especially when it relates to their credit card
processing, and then an unbelievable thing happens.
The merchant is pleased that you can save them hundreds or
thousands of dollars depending on their situation. They are
pleased with your offering, but they are afraid of or reluctanct
to change. So what do they do? They GO BACK to their present
processor and ask them to match what you have offered.
Now that doesn't seem so bad from the merchants view point. But
let's evaluate it a little. If your present processor really
wanted to save you money, don't you think they would have
charged you less ALREADY and saved you the hundreds or thousands
of dollars that your new rep and merchant services can and will
do for you? If they are making a huge profit off you now, and
cut back JUST TO KEEP YOU, what will stop them from raising the
prices again exhorbitantly down the line, when interchange goes
up?
I'm aware of a company that could have saved some $30,000 in
three years, but stayed with their present processor, AFTER THEY
PROMISED THE SAME RATES. Now i know those rates won't stay there
if they do roll back their rates. What a frustrating thing, when
you really care about your future clients and present customers.
Evidently the present processor wasn't too keen on caring about
whether they took advantage or not.
I would recommend that if you are serious about having your
present situation evaluated, then be very careful about staying
with your present processor, if you find out that they have
grossly overcharged you, ...because they can.
There really are reps and merchant service companies that do
have you in mind when they want to help you and even though they
are in business too to make a profit, they don't believe in
ripping you off.
Just my word of caution for today, and to share why we reps
sometimes get frustrated but can't really show it.