Some may wonder, why share industry knowledge? It is a good practice to share what you have learned with others; to share with those who don’t even know that it is important to know.
There is so much to learn about every industry, it is important to us, here at TransAct that we make it a priority to educate, inform, and elevate the client’s understanding.
In networking to develop TransAct, it has always been a priority to be transparent. What are the critical areas to know? What is changing in the industry? What certain aspects of credit card processing and merchant services should be more widely known?
It is a confusing industry and that causes people, the decision makers in a business to be less trusting.
TransAct wants to earn your trust, your business and your loyalty.
So, we share industry knowledge.
Here is the latest news we think you should know:
Large company Acquisitions in the last year
- FIServ acquires First Data
- TSYS acquires Cayan (formerly known as Merchant Warehouse)
- FIS acquires World Pay
- NCR buys Jet Pay
What these mergers often mean to business owners is:
- less competition
- less interest in cutting rates to attract clients
- less perceived need to reduce the fees charged
When their contracts roll over to the new parent company, clients are locked in no matter what. While you may not have an option to change, it is still important to ask the question.
Be on the lookout for new fees on your statements if you are working with one of these companies and know when your contract expires. If you want a second opinion, please let us know – e-mail Mary Ann for an industry insider view and explanation of what it all means to you and your business.
PS TransAct does not require a contract and always works one-on-one with a client to educate and share industry knowledge, helping clients to find the best program to serve each unique business’ needs