A merchant service can help you not only house your funds, but also obtain other options, like a cash advance. While many choose the merchant service with the lowest percentage, or fanciest terminal, you need to make sure that you look at the full package before signing on the dotted line. The wrong choice cannot only leave you unhappy, but it may cost you customers.
If you are unhappy, you need to look around for ISO merchant services. The best available to US merchants is 1st American Merchant (FAM). Unlike other providers who have a “you get what you pay for” approach, FAM has a 100% satisfaction guaranteed approach to the industry. Not happy with their services? No problem – but since they have been among the top-rated ISO merchant service providers in the US, we doubt you will be.
The problem with the ISO industry is the “high risk” label that has been slapped on it. Yes, there is a higher risk for fraudulent activity and chargebacks, thanks to many who do not repay. The issue comes when a chargeback happens, and a provider who is unfamiliar with the industry raises the percentage rate, or closes the account all together. Chargeback issues are a normal aspect (sadly) of most high risk merchants and these merchants should not be cast aside because of them. With FAM, this does not happy. Our team of industry experts can guide you along the way. FAM also offers industry-standard percentage rates, which can help save you and your customers’ money. Usually when percentage rates go up, merchants raise prices to cover the lost funds. This does not happen when you have a service provider who understands the industry.
Steady prices can also bring your business. In this rocky market, many stores are fluctuating their prices, trying to stay afloat by keeping prices low, and them raising them to make revenue. This can confuse customers, leaving them questioning you and your company’s ability to understand the market. The right ISO merchant service not only helps keep your business accounting on the up and up, but it helps keep your business booming.