Three Rules For Being The Best Merchant Credit Card Processing Service

In your quest to be the best merchant credit card processing service or debit credit card processing service, you may be tempted to adopt gimmicks and shortcuts.

You may try to build your business by offering catchy discounts instead of quality service. You may offer merchants a technical support number instead of actual customer service. You may give them free equipment and supplies instead of proven, long term solutions.

You may turn a profit in the short term, but your clients won’t stick with you for long. But, unfortunately, the bad reputation you develop will.

Instead, follow these three rules. They’re not easy, but if you’re interested in building a credit or debit credit card processing service with long term success, they’re the only way.

1. Be dedicated to customer service.

To be one of the best merchant credit card processing services, you have to stay in touch with your customers. You need to call them, visit them in person, send them emails and keep them up-to-date via periodic newsletters. You have to check to make sure they’re getting everything they need, and if not, fix it right away.

2. Transparency is key.

Always give your merchants information in a format that’s easy to read and digest. No one likes to wade through the sludge of incomprehensible reports, so don’t make your merchants do it.

You should also promptly tell your merchants any news – good or bad. Bad news is bad enough without finding out that someone has tried to hide it from you.

And make sure to clearly explain any fees they’ll have to pay.

3. Know your merchants’ businesses.

Your merchants know everything about their respective industries, and you need to learn as much you can about them, too. How can you expect to give them good advice if you don’t know how they do business?

That being said, you don’t have to know it all. If they ask you a question and you don’t know the answer, it’s completely fine to say so. Just tell them you’ll do some research and get the answer to them as soon as possible.

Lastly, make sure your merchants understand these three important rules, and that they know you’re trying hard to live up to them. You want them to think of you as a partner –not just some company they have to pay.

And when they start thinking of you as a partner, you’ll build relationships with merchants that last – as well as a reputation that will attract new business.

Do you follow any of those rules? If so, which ones? If not, do you have any of your own? Leave us a comment below.

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Jeff Fortney is Vice President of ISO Channel Management at Clearent. He has 35 years of experience in financial services, with 17 of those in the debit and credit card processing industry. As many ISOs and agents will tell you, Clearent will help your business thrive by providing you with some of the best merchant credit card processing services and debit credit card processing services.

Become One of the Best Small Business Credit Card Process Services

You may have the latest technologies, hardworking employees and a savvy business model, but that’s not enough to succeed in the debit and credit card processing industry. Like any successful business, the best small business credit card process services not only display all the attributes above, but they also excel at cultivating relationships with current and potential clients.

So to help you grow your debit and credit card processing business, here are a few tips for forging profitable business partnerships.

Keep in touch

 Stay in constant contact with your merchants. It will keep your business at the top of their minds, and if you’re at the top of their minds, another debit and credit card processing service can’t be.

A great way to do this is sending an electronic newsletter. A variety of companies offer user-friendly templates that let you create custom, professional HTML newsletters at little or no cost. Mail Chimp has always worked well for us.
 
As far as content for your newsletter, remember to keep it short. All you need is a logo, a personal message, and some interesting information about debit and credit card processing services that can easily be found on the Internet. Also, keep your tone and design consistent, and try to send your newsletter every month---or at least every quarter.

Build Loyalty

 Don’t let your merchants think of you as a vendor or supplier. Make sure they see you as a partner.

How do you do this? Alert them to new forms of debit and credit processing, such as mobile payments, which will help them grow their business. Furthermore, when you’re near their business, call them and see if you can drop by to say hello. Lastly, build connections between your merchants, referring one to another if you think they’d make good business partners.

Once your merchants start to see you as a partner, keep cultivating those relationships and remember that the loyalty building process never stops. Ask your merchants for referrals, and keep sending business to them as well. This reciprocation will keep your partnerships strong.

These are just a few ways to cultivate successful and lasting relationships with your clients. What are some other great ways to build loyalty among your merchants? Share your ideas and leave us a comment below.

Jeff Fortney is Vice President of ISO Channel Management at Clearent™. His career includes over 35 years in financial services, with the last 17 focused on the debit and credit card processing industry. As one of the best small business credit card processing services, Clearent is a valuable partner to many ISOs and agents. If you’re looking for a new partner for debit and credit card processing services, Clearent will be sure to give you and your merchants high-quality service, competitive pricing and sought-after products and services. Contact us to learn more.