11/02/2021
Time to pull back the curtains on merchant services here. I've taken A LOT of phone calls this week from current customers in the McHenry area asking if this is a scam or not.
There are some unknown faces hitting local businesses and a good majority of them are pushing a newer program called "Reverse Cash Discounting or Cash Discounting".
At the end of the day, this program adds a check out fee (3-4%) to your customer's credit card transactions. This relieves your business of a lump sum payment at the end of the month, and takes the 3-4% on a daily basis, thus bringing your overall bill down to zero dollars.
This program is 100% legal and legit in our state. But I would tell you to tread lightly with this one.
If you have a good relationship with your processing company, they're responsive, they help when needed, the drop by your business to check on you..... then ask them if you can try the program. Every processing company right now has this program, there is nothing special about any one of them.
If you're not happy with your current provider, or feel that your needs aren't being met, I promise you, that signing up with someone that stomps through town once a year to fast talk their way into new business is NOT going to give you what you need.
Check your local chamber, as your neighbor..... Seek out someone that is active in the community. Not only does this help the "shop local" mentality, but also gives you (the customer) a little bit of a guarantee. We are around, we know people that you know.... HELL, I was stopped at the grocery store tonight by a customer of mine just to talk about this very thing (hi Kim!) There's more transparency when you have a local company that you deal with.
Businesses hate the credit card processing arena, and I completely get it, but at the same time, you give your business to a sweet talker that sees you as a dollar sign. I personally do this because its nice to have a relationship with my "customers" and be able to provide an ACTUAL service for the amount of money y'all spend on these card fees.
Here's a small list of people in our area, that hold the same standards.
-Myself
-Debbie Marino
-Jim Gallagher
- People seem pleased with Transnational merchant solutions also
- Tim Henry
Of course, we all had to start somewhere, and got a chance to prove ourselves worthy at some point, again, this is just a PSA. Every reputable merchant service company will offer NO CONTRACT. Get it in writing! And if you're looking for someone better, get ahold of myself or one of my competitors listed above.
