The first piece of advice when selecting a merchant service provider in Denver, allow enough time to evaluate the company, proposal and contract. Rushing into an account will ensure a bad experience. Rates for accounts in Denver can vary greatly and so can the contract term.
Here are a few items to consider when evaluating companies in Denver.
- Experience – An important aspect of selecting a provider is their experience and history. Look for companies that have been in business for over 10 years. Also, inquire as to the specality of the firm. Make sure they specialize in the type of account you are looking for.
- Merchant Attrition – This is a fancy word for merchant turn over. Ask what the attrition rate is. The higher the rate the more turn over there is with merchants that work with the provider. This is a good indication that the provider does not have the merchants best interests in mind.
- Services – What services are offered and are they complementary? Many providers will offer a number of different services and thats great if they complement one another. Problems arise with firms that try to do too much for too many. Select a firm that concentrates on electronic payment processing.
- Rates and Fees – As mentioned earlier, rates and fees can vary dramatically from provider to provider in Denver. There are also many different pricings programs that can be set up. Familiarizing yourself with pricing can be a huge savings when negotiation the account. Here is a great reference on merchant account pricing.
- Technology – The technology the provider offers will be an indication of their business investment. Make sure they offer leading technology. This is especially important in the ecommerce industry.
- Customer Support – Mentioned last in the list but is absolutely the most important aspect when selecting a provider is the support. Make sure you select an merchant service provider that offers a dedicated representative as well as 24/7 tech support.
For more help with selecting the right merchant service provider in Denver, download our merchant services survival guide.