Comments on: Avoiding a Bad Merchant Service Provider

By: DL Cordre

DL Cordre — Thu, 25 Feb 2010 13:48:53 +0000

Where can I find unbiased impoprtantion on different providers?
Of participart note is firstmerchantservices.com
Does anyone use this company or know of any positive or negative comments on them?
Will be opening a new store in the next month and need to accept cc.
Thanks

By: Nick Bentley

Nick Bentley — Mon, 08 Feb 2010 21:33:44 +0000

One red flag to look out for is quoted rates displayed on their site. Those are always teaser rates that adjust upward in six months or a year to something sky high.
There’s no way to tell someone what their rate will be until they know what their business is, type of swipes, monthly volume, and credit.

It’s like adjustable rate mortgages, and one of the sleazier tactics being used out there. Also it’s worth asking because some places will pay your early termination fees when you switch to them.

By: Ernest Martin

Ernest Martin — Thu, 05 Nov 2009 22:38:18 +0000

Thanks, I recieve an e-mail from a middle man that said Moneris was a great way to go. I’m just trying to get my business off the ground and don’t need to be rail road with high MA fee’s. This info was an eye opener. Thanks again

By: merchant services

merchant services — Fri, 30 Oct 2009 18:17:23 +0000

The merchant services industry can be very complicated from the transaction process to the pricing. Honest and relible merchant service reps, I hate to say it, are hard to come by. Here are a couple of things to consider:

The lowest % offered may not always be the best percentage for you.
For example, Lets say you have an average ticket under $15.

A low rate of 1.75% may not be the best option for you. Due to the transaction fee of $0.25. In all you would pay about $0.42 for a $10 transaction.

Visa/MC offers a different cost structure for those low average ticket businesses. If a rep doesnt know this you will only see them offer the program above.

However, you would be much better off paying the higher 1.85% and getting the lower $0.15/trans, giving you a total cost of $0.34 on a $10 sale.

By: colleen

colleen — Tue, 05 May 2009 03:30:35 +0000

Card Service International blows dog. Stay away from these schysters.

By: Linda Graham

Linda Graham — Fri, 01 May 2009 10:31:23 +0000

Good info,I only wish I had found this before we changed providers.We were called and listen to the pitch and are having so many problems,I’m not sure what they are doing is legal.

By: court

court — Thu, 23 Apr 2009 00:59:37 +0000

some really useful information, thanks

By: Sean Simpson

Sean Simpson — Mon, 06 Apr 2009 14:40:14 +0000

if traveling to Africa & South Africa – a word of advice, do not use MTN as a mobile service provider. Your frustration will get the better of you.

By: Concerned

Concerned — Thu, 02 Apr 2009 19:21:26 +0000

I was being charged nearly 3% with Moneris for Visa rates. I had a gentleman call me from Conquest-Financial and I was not too happy to deal over the phone, but was interested in receiving a quote. I have recently switched over and in difference between this year and last year I saved over FOUR HUNDRED DOLLARS that month! I’m not sure if anyone else has contact with this company but I think they run a Toronto office. My rep I was given was code 2265 if inquiring. I don’t really want to give away any names. I run a cafe in northern Ontario.

By: Mark

Mark — Thu, 02 Apr 2009 02:59:13 +0000

One of the best ways to ensure peace of mind is referrals. If your representative is reputable, then your rep should provide access to another customer without concern.