5 Reasons Why You Might Hate Your Credit Card Processor
If you’re a merchant, you probably know the headaches of dealing with credit card processors. Let’s uncover and discuss each of the reasons why many credit card processors are often difficult to work with.
They Have Misleading Sales Tactics
Some credit card processors will do anything to make a sale. They put so much pressure on their salespeople that they’ll say anything they can think of to make a deal. Sometimes, these sales agents are not properly trained and they give merchants the wrong information, whether knowingly or unknowingly.
And, while not every salesperson is unscrupulous or misleading, it’s not uncommon to encounter deceptive tactics. For example, if you look at the tiered pricing systems offered by most credit card processors, it looks really good. But read the fine print and you’ll discover that almost no merchants can qualify for the best deals. Or maybe you do qualify, but there are hidden fees that end up making it not such a good deal after all.
Fees Are High
Many business owners have found that fees, like early termination and PCI compliance charges, are much higher than they should be. And sometimes, these fees are undisclosed. This makes for an unwanted surprise, particularly when they are in the range of $500 to $1000 for a simple early termination.
Fees might not be a problem if they were essential, but some credit card providers don’t charge fees at all. This shows that they are not necessary, they’re just a method of making extra money for the credit card processor.
It’s Hard to Cancel Services
Let’s say you’re using a credit card processor that does not have early termination fees. Great, right? That means you can stop using their services any time you want. But wait… it might not be so easy.
You might have trouble getting a hold of the correct department to cancel your services. You might be told to call one phone number, only to be shuffled around from person to person before you finally find someone who tells you how to cancel. And then, when they finally allow you to cancel, the paperwork might be complicated.
You Have to Lease Terminals
In many merchant relationships, you’ll have to sign a leasing agreement to use terminals. In most cases, it is impossible to cancel these leasing agreements. The result? You’ll have to pay for the full term, even if you cancel the service, switch providers, or go out of business. Instead of being able to buy a terminal for several hundred dollars, you end up leasing it for thousands.
Customer Service Isn’t Helpful
And finally, any time you have questions or concerns about your credit card processing services, you’re met with a difficult customer experience. Much of the time, sales agents are not available to help you out once they’ve made a sale. Their job is to make new sales, not to support existing customers. This makes it hard to know who to call. You might call the company and get an answering machine, or you might get transferred from one department to the next without getting an answer to your questions.
A Better Solution
Looking for a credit card processor that actually looks out for your needs instead of just trying to make money? Look no further. With helpful client care staff and plans that are made with the merchant in mind, you’re in good hands with Wholesale Payment Direct. We’ll do everything we can to ensure a great experience for you while giving you a wide range of payment options for your customers.