List Of Questions That A Merchant Should Ask Companies Offering Payment Processing Solutions

List Of Questions That A Merchant Should Ask Companies Offering Payment Processing Solutions

Question: How responsive will a​ payment solutions provider be to​ a​ merchant?

Industry standards: Voice mail or​ email.

Optimal: Voice mail or​ email should be answered the​ same day. in​ addition, telephones should be answered by real people.

Question: Do they offer a​ complete line of​ payment processing services?

Industry standards: Lack of​ a​ complete package of​ services and/or only represent one processor or​ provider.

Optimal: the​ short answer should be yes. Many providers only offer one payment processing service (like merchant accounts). However, they should also provide electronic checks, electronic check conversion, automation of​ receivables, bad check recovery, as​ well as​ all other payment processing services. Several processors should be available in​ order to​ be price competitive.

Question: How do I know if​ the​ services are reliable and​ perform as​ represented?

Industry standards: Sometimes you can only hope that you will receive what you were promised.

Optimal: References/testimonials should be provided. You should be able to​ “check out” the​ service and​ reliability of​ anyone you may be considering doing business.

Does the​ processor sell email addresses or​ any personal information?

Industry standards: Many companies will sell your email address or​ personal information.

Optimal: This should be a​ definite no!

Question: What about transaction security?

Industry standards: Varies.

Optimal: Your provider should provide the​ latest SSL encryption technology and​ your transactions should be submitted to​ a​ secure server for​ posting.

Question: Can I see how your service/services work?

Industry standards: Most companies do not offer free demonstrations on how their services actually work.

Optimal: Demos should be offered routinely. You should be able to​ take a​ “test drive” before spending your hard-earned dollars.

Question: Can you provide any information about the​ processor that you recommend?

Industry standards: Varies.

Optimal: Detailed information on any processor recommended should be provided upon request.

Question: After I am a​ customer, what happens when I call with a​ service problem?

Industry standards: Many times it​ is​ almost impossible to​ talk to​ anyone. Do you want to​ talk to​ voice mail? Press option one if​ you want…or press option two if​ you want…etc. Many times email or​ voice mail is​ never answered.

Optimal: Emails should be answered the​ same day. Telephones should be answered by real people. Assistance should be cheerfully provided. Service problems should be followed up and​ progress should be reported to​ you every step of​ the​ way until your issue is​ resolved!

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