How To Secure Better Merchant Services

How To Secure Better Merchant Services

Growing your business from small to medium-sized or larger requires you to have a steady flow of cash available to you as well as a steady stream of customers whose payments are processed without issues. This is true whether your business is an e-commerce shop or if you are launching your brick and mortar business. But having this steady flow of net income at your disposal is only possible when you have secured merchant services that work to serve your business needs. Merchant services are not a one-size-fits-all business solution, so it is important to speak with us here at Provident Payments about how to secure better merchant services that are best for your business.


One of the most important aspects of your relationship with your merchant service provider will hinge on what kind of contract you have with them. There are a few variations of contracts but essentially the rules that govern them are all the same. A long term contract will have more favorable payment structures than a short-term contract. This is because a long-term client will always be more favorable than a quick buck. That being said, a long-term contract may have fees and penalties if your business model changes and you need to break or alter the contract.

Pricing structure

Pricing structures will vary and choosing the right pricing structure for your business depends on how many credit and debit card transactions you will be making. If you run a mostly cash business, you will want to choose an option that will likely have a higher per-transaction fee but is ultimately cheaper than having a monthly service fee.

On the other hand, if you anticipate accepting a lot of debit and credit transactions, you will want to have a pricing structure that is more favorable when it comes to per-transaction fees. A monthly or yearly plan that allows you to pay one flat rate will always be a better structure here.

Transaction Processing Time

As we mentioned, another important aspect to consider when choosing the best merchant services for your business depends on how long the turn around time is to receive your money. The best and mores qualifies merchant services will over a next-day payment schedule that makes it quick and easy for you to use that income to operate your business.

Alternatively, you should be wary of merchant services that have a 3-day or longer turn around. This longer turn around could be a deal-breaker if you are dependant on that income to run your business. Always ask your payment processor about these transaction processing times.