We tell our clients, understanding merchant services is simple (when you work with Transact) because we take the time needed. The term “merchant services” is bantered about, sounds mysterious and just industry jargon. However, understanding what it really is can be simplified when we discuss it. Here’s our breakdown:
What Are Merchant Services?
- Payment Processing Solutions: Altogether merchant services encompass the variety of financial transactions used by businesses. No matter how large or small, anyone who takes a payment from a customer uses some sort of monetary exchange. This includes credit cards, debit cards, electronic checks or e-checks, EFT or ACH payments, as well as virtual or peer to peer payments. Pretty much anything other than cash.
- Hardware and Software Tools: In order to process a payment, hardware (like a POS system) and software (which supports how the POS system works) are both needed. For example the card reader, an online payment gateway and a customer database are some of the tools used in most business transactions today.
- Security Management, PCI and Fraud Prevention: Merchant services also require various tools to protect against fraud and ensure secure transactions. This includes following PCI compliance standards to safeguard customer information.
Why Choose TransAct To Help Your Business
When it comes to choosing a partner for your merchant services, TransAct offers a boutique level of services to support both new and established businesses of any size.
1. Personal Support
You never have to say “human” or “representative” to an automated help desk. In an era where canned responses and call centers are the norms, TransAct holds true to our core providing personal support. With a live help desk, you get assistance and answers from real people who understand what you need – now.
2. Custom Solutions
The leadership team at TransAct recognizes that no two businesses are the same. We offer custom solutions that are tailored to meet the specific needs of your business. Besides choosing the right hardware and creating the payment processing setup and software, we ensure your merchant services align with your business goals and payment processing demands. Do you process a limited number of large value transactions each day, or many micro-payments that add up to thousands of dollars? We take the time to ask these questions and more.
3. A Consultative Approach
TransAct goes beyond just credit card processing. Our consultative approach means we work with you to understand your business, offering insights and solutions that help improve efficiency, reduce expenses, and enhance the customer experience. This partnership helps businesses not just in transactions, but in reaching and achieving your goals.
The TransAct Difference
We offer a comprehensive, customized, and consultative approach making sure merchant services is simple. With personal support and custom solutions we enable you and your business to not only offer the best payment processing experience for customers but to understand how it works.
Choosing the right merchant services provider is a critical decision for any business leader. Learn more and chat with us today to see how we become your partner, dedicated to your success.