COMMON MISTAKES MADE BY
MERCHANTS WHEN THEY CHOOSE A PROCESSING
COMPANY FOR PROCESSING POKER ECHECKS
Mr. Carl started a
perfume business in his garage. He made
it a makeshift store which sold
perfumes. He offered his customers to
purchase items using personal checks,
credit cards and cash. His small scale
business made a lot of profit. Very soon
Carl rented a shop in a nearby mall
where he sold perfumes. His business did
well and sooner than later he was the
owner of three perfume outlets.
Then, one fine day a good
friend of his advised him to expand his
business by starting an online store. As
soon as his site was up he was bombarded
with several payment processing
solutions. Since he was very busy, he
did not scrutinize any of the options,
but chose the first company. Carl was
soon paying an enormously larger bill
for his payment processing solution
which he had bought without doing any
research. Soon it began to eat a
considerable amount of his business
profits and he started to loose his hard
earned money. When he realised his
mistake it was already too late.
Carl’s small mistake cost
him so much money. This article will
highlight the mistakes made by Carl that
should not be repeated by you.
1)
Merchants choose the first processing
company that they encounter
Such a blunt choice is made by only
those people who are extremely lazy.
This is not a mistake but a blunder and
an extremely costly one, too. The
solution for this problem is simple: you
have to spend some time to gather
information regarding several eCheck
processors and compare them. You should
choose the best one that is suitable for
your business.
2)
Merchants make their decision based on
how attractive the brochure of the
processing company is
Never make such a silly mistake because
the marketing agencies will work day and
night to make a good impression using
the brochure. But you should find out
how many of the services they actually
service and what the costs are.
3)
Merchants decide an eCheck processors
based on the Homepage
It takes only a few dollars and a couple
of days to make a well designed,
colourful and attractive homepage.
However, it takes several years to make
a good business and good reputation.
Therefore, if you are making your choice
based on the attractiveness of the
homepage then, be ready to shell out
more of your profits to the processing
company.
4)
Merchants do business with an eCheck
processor that is endorsed to them
A
merchant goes to a business meeting to
find out about good processors where one
or two of the members suggest the same
company. Without further thought the
merchant applies to the company for
eCheck processing only to later realise
the blunder made by him.
5)
Merchants are lured in by eCheck
processing companies sales person
Don’t blindly trust a salesman because
his job is to sell the products of his
company. Find out how much truth exists
in what the salesman has told you and
then make your decision.
Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |