Although the 21st century has been a great year for eCommerce, retail businesses still hold a significant degree of importance among customers. Take groceries for example. Households still opt to go to the store and physically pick out fruits and veggies. Other businesses such as dry cleaning and car maintenance services have experienced little shake-ups from the advancement of online retailing. However, there is one business trend they can’t avoid: credit cards.
No one carries significant amounts of cash in the wallet anymore. If yours is a brick-and-mortar business where the customer comes to you, you should be able to accept credit cards as a form of payment. A merchant account is the only reasonable way of enabling customers to make card payments. However, there is a growing number of account providers that give the industry a bad name. The internet is filled with client complaints against high fees, shady sales representatives and poor after-contract customer service.
Nonetheless, good merchant account companies exist, some of which come highly recommended by experts in the field. Below are three of the best providers of payment services for traditional retail stores in the US.
- EMerchantBroker (EMB)
EMB gained traction as a payment solutions provider for online merchants, but they now provide excellent processing services to the traditional business types as well. These include point-of sale systems, integrated gateways and mobile payment options. Maintaining a thoroughly satisfied client base is not easy, but the company’s staff is one of the highest rated in the industry when it comes to customer support.
Moreover, high-risk retailers who might find it hard to acquire card payment services have a reliable helping hand with EMB, which has been consistently voted the best high-risk provider by industry experts.
For merchants, Fattmerchant offers everything; from traditional payment options and mobile solutions, to an online shopping cart for retail websites. Additionally, Fattmerchant provides EMV-compliant credit card terminals and point-of-sale systems. Clients are also encouraged to buy their own terminals, after which the firm will program them to work with their services for free.
Fattmerchant prides itself in low cost and transparent plans, which involve a higher monthly fee but no markup charges, added PCI compliance payments or other hidden side-fees. This can lead to significant savings in overall costs.
PayJunction’s success is mainly attributed to their unique policy of providing a paperless solution to transaction processing. It achieves this by enabling a merchant to use both a virtual terminal and their proprietary Smart Terminal card reader to send customer receipts via email. This eliminates the necessity to store hard copies of the receipts, as all transaction data is stored online. PayJunction works best for clients that process over $10,000 worth of credit cards, because these clients incur no monthly account fees. All credit card transactions are processed at interchange + 0.75%
Every retail business has its own unique needs, but with the companies profiled above, it is virtually impossible to get it wrong.