In any vendor/client relationship, vetting research is time well spent. By looking into each potential partner’s qualifications and experience, you can ensure your financial investment will not be misspent. Merchant services are an area of your business that should not be overlooked in this regard. In this post, we review questions to ask before hiring a merchant services provider. In addition, we cover certain qualifications that will help your business be more successful.
Vetting a High Risk Merchant Account Provider: Characteristics to Prioritize
Reputation and Reliability. Your high risk merchant services could entail thousands of dollars, so your vendor must have a reputation for security. The merchant provider’s ability to manage your credit card transactions via a secure payment system is intrinsic to the success of your business. Reputation counts. Be sure to ask for and follow up on references. Speak with past and current clients of each high risk merchant account provider you’re considering.
Experience. It benefits you to know how much experience the service provider has in the industry. Years of experience generally indicate top quality service and well earned customer trust.
Service Fees. It was once understood that merchant account providers would charge higher rate fees for high-risk businesses. The reasoning was that they had to make up for potential losses in the future. Fortunately, these days it is generally assumed that merchant account service providers should work in the interest of the client. While selecting a high risk merchant services provider, expect competitive service fees, and don’t hesitate to ask each provider why they are charging higher fees for certain services.
Security. Security is a serious consideration. You have a need to make sure that your online accounts and sales systems are secure, and you should have a plan in case something goes wrong. Be sure to find out what kind of security your merchant services provider uses. Is data encrypted? How does the merchant services provider handle stolen credit cards? These and other inquiries can help you understand how seriously each potential partner takes security.
The Benefits of Working with Experts. Bankcard Brokers is a leader in providing financial and business services to high risk businesses, with a special focus on the cannabis industry. Our core values include transparency, credibility, and legitimacy—all backed up by our world-class support. Here are a few benefits you’ll enjoy by partnering with Bankcard Brokers for your high risk merchant account services.
• Excellent Reputation. We have earned a reputation as an experienced and reliable provider of merchant services and financial solutions for the cannabis industry and other fields that are perceived as high risk.
• Local and Green. Guardian is a Pacific Northwest company with a dedication to green business practices and a commitment to the growth of the cannabis industry. Being involved in the local communities and local matters shows our commitment to our region and our wonderful clients.
• Bankcard Brokers is here for you. Our guarantee to you is to always maintain our core values and to provide secure and reliable unparalleled service.
Call us today to discuss setting up a merchant services account.