Increase Your Merchant Service For Your Business
How transparent is your credit card processor in charging you when it comes to their service fees
? A lot of merchants neglect the various services charges which can have an affect on their own profits. Once when I got an opportunity to talk to a prospective consumer concerning service fees, he just yawned and is not really excited about this issue. A majority of these retailers have been ripped off before and would rather turn a deaf ear than listen to sales representatives presenting merchant services.
It is because lots of people in the credit card service market that will conceal their prices along with misleading sales techniques which gave the industry a damaging reputation in its entirety. But not all sales representatives are like that, you can still find some that would really make a difference for the consumer and be transparent in working with them.
So, although our goals are decent, it is still challenging to get them just to spend some time talking with us. The technique then, is to start out by basically asking normal questions that would probe how much they know about their service provider. You can even commence the conversation on the subject of Durbin Amendment legislation which everybody is apparently serious about. It's a good ice breaker and will gain you momentum on other important questions, here are a few other examples of the questions you can ask and start the ball rolling.
You may also consider the other salesman who presented you merchant accounts before and how they handle the sales talk, do they really come in this fashion or did they begun by offering you something that could help you save a small fortune?
Below are a few important questions you can test when selling merchant services:
1. Are you aware that we now have huge savings open to you on every bank transactions due to the recent passing of the Durbin Amendment? Have you ask your provider if they're sending back those savings to you or do they just keep it for their own end?
2. Do you know the numerous transaction charges and the actual rate you are paying for each procedure in the system?
3. Are you informed about the different types of rewards like Visa Rewards 1 and 2 type charge cards and how much are you paying for each?
4. Ever thought about what those various fees are and what on earth are PCI fees that aren't appearing on your processing statement?
5. Are you presently being charged monthly, annually or both for your PCI fees and do you possess any idea on what you are receiving on that?
6. Did your provider offer or mentioned any other marketing innovation bought about by new technologies besides your credit card processing? Are they updated on the current and forthcoming trends in the industry that may profit your business over time?
The reason for all of these questions is because you want to keep them enlightened of things with out getting on their nerves. To get the absolute maximum benefit from a service, you need to be responsive to every aspect in the merchant statement and the reason for the charges. Imagine just how much you could lay aside if you go for a totally different pricing plan most suitable for your business than the one recommended by the sales rep. If you add up all the extra cents that can easily be avoided, it can total to a large amount.
In spite of this, a great deal of sales reps out there are in fact depending on merchants who won't examine and skim the fees in detail, due to the fact that is where they will make the most. Did you know that the merchant processing statements were made to befuddle the merchant? Yes, one look at it and you'll undoubtedly agree with me. When you can find the time, make sure to discuss with your sales rep all the rates upon receiving your first statement, just be sure you are getting what you signed for, nothing more, nothing less.
Normally, sales rep will offer you this as a gesture of professionalism and go out of their way to talk about things and review your statement. Credit card processing transactions exemplifies the lack of transparency which has become a major barrier for merchants to find the most competitive fees for their business. Multi-level pricing also known as tiered pricing has been pointed out as a way for merchant service providers to conceal base charges.
by: timrcwoxpe
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