![]() ![]() ![]() Improve Customer SatisfactionĬustomers get frustrated when they can’t use their particular card to pay. The reasoning is obvious - it’s harder to watch dollar bills leave your hands than swipe a debit card (and spend money you don’t have), which is also harder than swiping a credit card and spending money you “don’t” have. Many studies have shown that people spend more when they pay with credit cards versus using cash. However, you’ll also make more revenue independent of sales (or in other words, you’ll boost your average order value). It’s simple: the more payment methods you can accept, the more sales you’ll make because more customers will be able to buy from you. Benefits of Merchant Services Make More Sales, Earn More Revenue Your account faces more scrutiny, and it may be frozen without warning. As a result, you face less account stability. On the downside, your money is mixed with other business’. This allows for a much faster setup and better rates. PSPs aggregate funds from all their customers into one account, then dish out funds based on which customer earned what. Payment service providers - known by other names like PSPs, third-party payment processors, and aggregators - give businesses the capability to accept electronic payments without a merchant account both in-person and online. Most merchant account providers also provide you with the tools you need to accept payments, such as: They offer businesses merchant accounts that allow those businesses to accept credit and debit cards as payment. Merchant account providers are the most traditional type of merchant service provider. The difference between the two comes down to getting fewer features to save some cash or investing more for more account stability. ![]() There are two main types of merchant service providers. Many merchant service providers also help you with payment tracking, invoice collection, data and analytics, and similar areas. They also deal with the safe handling and storage of customer payment data. They allow you to accept credit, debit, and electronic payments. Merchant service providers are companies that offer a variety of systems and solutions to help businesses facilitate receiving payments from customers. We’ll make your job a little easier by listing some of the top companies here: ![]() Consequently, choosing one is not an easy task. There are tons of payment processors and merchant service providers out there, and on the surface, they all appear to offer similar services. The Most Recommended Merchant Service Providers There are a lot of options on the market, though, so read on to learn more about merchant service providers. A good merchant service provider offers you a cost-effective method of accepting your customer’s money and having access to your funds in a reasonable time frame. This is where merchant service providers come in. You have to be able to take a variety of customer payment methods while keeping your customers’ payment data safe. If you can’t take your customer’s money, then there’s no chance of you staying afloat, obviously.īut with so much business being done electronically these days, it’s not as simple as physically taking cash from your customers or having them swipe a card. Pick the Right Merchant Service Provider -īeing able to accept payments is an essential part of running a business. Endless possibilities.Ĭustom-made for your business model Read ReviewĢ4/7 Support, Trusted by 30,000+ businesses Read ReviewĬontactless payment solutions Read Review Ultra-transparent & simple pricing Read ReviewĮliminate fees with Zero Cost Processing Read Review We do not compare or include all service providers, brands and offers available in the market. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. See our How we Rate page and Terms of Use for information. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. ![]()
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