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.