Common Myths About Payment Processing.
MYTHS
FACTS
I’m in a contract so I can’t switch.
Actually, that’s one reason you should switch. Payment Solutions can often negotiate to have your cancellation fees paid and a waiver of cancellation fees with your new processor so you don’t run into this in the future.
I don’t want to change my hardware/software.
Many times you don’t have to. Payment Solutions works with several processors that directly integrate with most hardware and software systems. This allows the merchant to maintain their day to day operation.
I can’t afford the down time.
With Payment Solutions we work to utilize existing hardware platforms or will put redundant systems in place to reduce risks of downtime. Once the system is live we then can help you with your cancellation process of your existing account so there is no downtime.
No one can beat the rates I’ve negotiated.
We are so confident that we guarantee that there will be a savings or we will write you a check for $1000.
It takes too much time and effort to change processors.
First, there is no guarantee that you will have to change processors, in some cases you may end up with the same exact processor and nothing would change at all, just lower overall costs. Secondly, the application process is handled by our team once we have a preapplication completed by you. After all the paperwork is in, most applications take less than 5 mins to complete and Payment Solutions assists you via phone or in person until this is completed.
I am currently using proprietary software/hardware that doesn’t work with third parties.
It’s OK if you are not interested looking at alternatives, but the savings may be significant enough to change that perspective. If not, Payment Solutions can help you negotiate with your existing providers.
I use Square
Don’t be a Square… Their are several challenges with Square that includes highest price per transaction, hardware security and compliance with the new regulation and no virtual terminal/ecommerce solutions. Companies that process over $7000/mth can see significant savings with a professional merchant account, wouldn’t you switch?
The devil you know is better than the devil you don’t.
In some cases you don’t have to switch providers at all. Payment Solutions benchmarks serviceability from only the top processors in the industry so we guarantee equal or better service, technology and security. The choice is yours but wouldn’t you want to know what you are overpaying?
I process with my bank and I don’t want to change banks.
It’s important to know that your banking and your processing relationships are separate from each other. No matter who processes your credit cards, you can always select the bank of your choice to route deposits to. Secondly, many banks are only “resellers” of credit card processing and do not physically process credit cards, and it may be beneficial to work directly with the processor to reduce total costs and get better over all customer service.
Last time we switched it was a nightmare. Application, reprogramming, cancellation and other hidden fees. Hardware and software incompatibility. No communication of the steps.
First it’s important to note that you may not end up switching providers at all, just negotiating a lower overall cost. Secondly, Payment Solutions core value is customer centric integration from technology (hardware, software & security) to customer service. We walk you though step-by-step until your systems are in place before removing your old systems.
We are high risk, so you probably can’t help us.
No matter what the business type/industry, risk level or credit history Payment Solutions can help you find the right processing solution for you.
I have millions invested in our ERP (Sage, SAP, Vantage etc..) and my credit card processing is tied to them directly so there is no way for us to work with you.
What makes Payment Solutions so unique is that we have the ability to work with existing service providers and may still be able to negotiate your rates and fees down without changing a thing.
I don’t want to save money without making any changes to my system.
You can’t make dollars out of people who don’t make sense.
I’m a new merchant so this isn’t for me.
Actually, Payment Solutions’ services are designed for all merchants, especially new merchants that are susceptible to signing long term contracts with the wrong processing partner.