The Benefits Of Local Credit Card Processing
Most companies don’t think twice about using standard credit card processing companies (CCPs). They’re ubiquitous, and practically everyone seems to rely on them. So firms register as merchants, cross their fingers and hope for the best.
But there are some serious problems with large, mainstream providers. For instance, most don’t offer businesses one-on-one support (unless you’re a large corporation). And they don’t stand by you every step of the way. Instead, you’re mainly left to figure things out for yourself, which can be a problem when it comes to something as technical as payment card processing.
There are other problems too. For instance, because they don’t have a close relationship with your brand, they are liable to shut you down the moment they detect a potential compliance risk. And this action can put you out of action for hours, forcing you to lose brand reputation and sales.
There is, however, an alternative. You don’t actually have to use a huge CCP company that’s not local. Instead, there are local payment credit card processors out there (like ours) who actually care about your individual business and offer many advantages.
If small CCPs are so great, why aren’t more companies using them? Mostly, it comes down to lack of knowledge. Firms just aren’t aware that such services exist and many bosses assume that they have to go with the major providers.
But that, of course, isn’t true. Yes – most companies just swallow the bitter pill and go with mainstream providers. But there are always options.
There are so many benefits of using local CCPs, it makes your head spin. Here’s a roundup:
Get Direct Support
When was the last time you were able to get direct support from your CCP? In all honesty, the answer is close to never. Usually, you have to take out a ticket and then wait your turn to receive assistance – not ideal when your systems are down.
Local CCPs, however, do things a little differently. You’re not just lumped with a generic rep who you’ve never spoken to before. Instead, you get a personal account manager who is up to speed on all matters to do with your business’s payment processing. There’s no waiting around, losing critical time. Instead, the support is ready and waiting for you when you need it.
The fact that you get direct support is a reflection of the differences in culture between generic and local CCPs. For generic providers, volume is the aim of the game. So long as they keep adding to their transaction totals, they’re happy.
But for local CCPs, it’s more about your experience as a business. You get the support you need, when you need, in a form that’s convenient for you. You aren’t treated like a statistic, waiting for somebody to come along and solve your issues. Instead, you’re more like a valued client who deserves respect.
Take us, for instance. We offer 24/7 US-based customer support and offer a dedicated rep for your account, meaning that you can instantly call up and get through to somebody who understands your current situation. Doesn’t that sound better?
Get Compliant Underwriting
Then there’s the issue of sudden stoppages. Depending on what you sell, some of the larger providers may shut you down without warning. You could be trading happily one minute and then find yourself unable to take card payments the next.
But with local CCPs, you massively mitigate this risk. That’s because when you work with a local provider, they have a more intimate relationship with you. So they know the kinds of things that you sell and provide greater clearance.
Local CCPs, like ours, believe in the importance of compliant underwriting. It is still absolutely necessary to protect businesses and the public from dangerous, fraudulent or illegal transactions. However, when you go local, you’re not constantly looking over your shoulder, worrying about whether a larger provider will shut you down. You always have somebody there to support you.
Our underwriting acts as a kind of bridge between you and the bank. We understand that getting quick approvals is critical in business. But we also know that it’s vital to show the bank what you’re selling so that you don’t get shut down at the worst possible time (which is always what happens). As your local CCP, we provide this function for you, ensuring that any problems get resolved quickly.
Remember what we said about large CCPs caring about volume more than anything else? Well, in practice, it means that your enterprise is just another account number in their client portfolio.
Yes – they will still provide you with services. But they may suddenly stop your services, leaving you up the creek without the proverbial paddle. They don’t take the time to really get to know your business, so they tend to apply more blanket approaches to approvals.
By contrast, local CCPs aim to provide excellent customer service. To us, your business isn’t just a statistic: it’s your life work – the sum total of your energies. Therefore, you need service providers who won’t let you down when you need them the most. No matter what kinds of payments customers make, we’re with you every step of the way.
Many businesses choose to use large CCP providers because they think they are the only option. But, as we’ve seen, local CCPs also exist and offer a compelling alternative. They offer a consistent service in much closer proximity than national and international providers. And they tend to be reachable at any time of the day (as we are) and available to discuss business matters related to your company.
Remember, in today’s economy, it’s almost impossible for small businesses not to accept credit cards. The number of people willing to carry cash is falling all the time, falling to just 26 percent of all transactions, according to a Federal Reserve Bank of San Francisco report. So working with local CCPs can keep your company safe and help you better serve your customers at the same time.