POSitive Processing Blog

Merchant Rules To Live By
Wednesday, March 6, 2019

Do your customers know these important merchant processing rules? Keep your business banking customers in the know with our 'Laws of Merchant Processing'.

When talking with your business banking customers, it’s a good idea that they feel as ‘in the know’ as possible. Next time you’re discussing processing with one of your customers, be sure to share some of the ‘Laws of Merchant Processing’ that they should know!

Merchant Rules to Live by…

Set up a separate bank account—By having a separate DDA account just for your merchant processing you will be able to easily close it if things don’t go as you had planned. If rates and promises do not seem to have been held up, you won’t have to fear your main account being debited for “additional” fees months after the merchant accounts have been shut off.

Don’t fall into a lease for your credit card terminal—With options of either buying a terminal for a few hundred dollars versus receiving the terminal for free for the length of your time as an OMEGA merchant, why would you even consider a lease with another processing company? Entering a four-year lease at $40 - $60 a month can mean paying almost $3,000 for your terminal. If you’d prefer to own your terminal, we offer affordable machines so you will still be way ahead of the game. Technology can change, your business can change. A non-cancellable lease cannot change; it can only be paid off.

If it makes sense today, it will make sense tomorrow—Never feel like you should rush into buying that ‘great deal’ you are being offered. Merchant sales reps get paid for closed sales and are often looking to have you sign on the dotted line before moving on to the next prospect. Don’t let them intimidate you. Take your time, do your own research and background checks. If a good deal makes sense to you today, it will continue to make sense tomorrow, next week, and next month. A rep looking out for your interests will never pressure you to rush into a business relationship with them.

Are your neighboring businesses utilizing them?—You’ve just heard all of these wonderful aspects of what makes this processing company so great, so why doesn’t everyone use them? Asking your rep for local references can tell you a lot. Who has been with them for an extended period of time and which companies have left them are both questions that will help you decide if this is the right processor for you. Maybe they are new to the area but anything they can share can help your decision.

Google is your friend—Finding out more about this company on your own can definitely help make your decision clear. You use it for everything else, so why not use Google as your one-stop research source for merchant processing companies? Find references. Research their BBB rating and accreditations. Try typing in the company’s name followed by the word “complaints”. It’s amazing what you can learn out there!

Contracts, contracts, contracts—Outweighing the good versus the bad when it comes to contracts is part of nearly every business transaction. They can of course serve as a great opportunity to secure and strengthen both sides of the deal, but be sure to ask questions. If they are so good, why do you need to be held to a three-year contract and then penalized for leaving early when expectations are not met? Your processing company should be earning your trust each and every day, not holding you hostage!

Understand your Billing Model—There are multiple ways your vendor can show their markups when sending out your bill. Being on a Tiered program, Fixed Rate Plus Fees, Bill Back, and more, you are participating in your own fleecing. These models make it easier for the processors to disguise what exactly it is they are charging you. At OMEGA Processing, we use the billing model that is Interchange Plus, showing you the true markup from what we charge versus what Visa, MasterCard and Discover are charging. All companies get charged the same from Visa, MasterCard, & Discover; there is no special wholesale or direct pricing, just marketing to make you think there is! Make sure you understand just what it is you’re paying for.

Categories

B2B and E-Commerce Solutions
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- 02/09/2017 - Why Should Your B2B Business A
Data Security and Fraud Prevention
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- 04/29/2019 - Gift Cards: The Gift That Thie
- 04/03/2019 - Chargebacks: What Are They and
- 02/13/2019 - 3 Tips To Protect Your Busines
- 11/12/2018 - Are you PCI Compliant?
- 03/14/2018 - Merchant Guide: 10 Essential T
- 02/12/2018 - Common Business Scams and How
- 02/09/2018 - Data Security Fast Facts
- 01/17/2018 - Vulnerability Scanning vs. Pen
- 01/17/2018 - BBB Warns of Email Scams This
- 01/10/2018 - Arm Your Business Against Cybe
- 11/15/2017 - MERCHANT FRAUD ALERT, 11-15-20
- 09/22/2017 - Have You Heard How OMEGA’s Dat
- 08/02/2017 - MERCHANT FRAUD ALERT, 08-02-20
FI Partner Program
- 11/08/2016 - Pursuing the Perfect Payments
Gift Cards and Customer Rewards
- 04/01/2019 - Spring Has Sprung and So Can Y
- 09/06/2018 - The Holidays Are Coming..Are Y
- 08/22/2018 - Sales are up 100%!
- 09/13/2017 - When Should You Start Planning
- 08/18/2017 - Black Friday is Coming!
- 07/19/2017 - Gift and Loyalty: We Have an A
- 02/23/2017 - Boost Spring Sales with OMEGA’
Just For Fun
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- 05/24/2017 - Facts You Might Not Know (or M
- 03/13/2017 - Keys To Success — 8 To Be Grea
- 09/02/2016 - Happy Labor Day Weekend!
Miscellaneous
- 06/21/2019 - VeriFone IP Terminals
- 02/27/2019 - Take The Hassle Out Of Tax Sea
- 02/13/2018 - Innovative Visa Wearables Make
- 02/13/2018 - Little-Known Secrets of Credit
- 07/19/2017 - Beat the Summertime Blues
Mobile Payments
- 11/08/2017 - Mobile Made Easy with OMEGA
- 08/03/2017 - A Good Thing Just Got Better —
- 10/18/2016 - SwipeSimple: Mobile Made Bette
OMEGA in the Community
- 07/05/2017 - Parades, Baseball and the Four
- 03/08/2017 - 9th Region Championship Player
- 02/06/2017 - OMEGA’s Players of the Game
- 01/23/2017 - TWO New OMEGA Player’s of the
- 01/13/2017 - OMEGA’s Defensive Player of th
- 01/09/2017 - 2017’s First OMEGA Player of t
- 11/21/2016 - OMEGA’s Offensive Player of th
- 11/14/2016 - OMEGA Processing Offensive Pla
- 11/10/2016 - OMEGA in the Community
- 11/07/2016 - OMEGA Processing’s Player of t
- 10/31/2016 - OMEGA Processing Player of the
- 10/25/2016 - OMEGA Processing Player of the
- 10/12/2016 - OMEGA Processing’s Player of t
- 10/04/2016 - OMEGA Processing Player of the
- 09/19/2016 - Sergent Wins Player of the Gam
- 09/06/2016 - OMEGA Processing Solutions Pla
OMEGA Merchants, News, and People
- 12/12/2018 - 2018 Year in Review
- 10/17/2018 - OMEGA Processing Solutions Cel
- 07/25/2018 - OMEGA Processing’s Kim Polark
- 05/31/2018 - OMEGA Processing’s Daena Spraf
- 04/20/2018 - Making Every Day Earth Day
- 04/11/2018 - How’s an Extra $100 Sound?
- 12/28/2017 - 2017 Year in Review
- 10/11/2017 - NO Contract. NO ETF. NO Long-T
- 07/05/2017 - OMEGA Processing Solutions Add
- 12/30/2016 - Some of our Favorite Moments
- 09/01/2016 - OMEGA Processing’s Caroline Ok
OMEGA Spotlight
- 07/10/2019 - OMEGA Spotlight-Barbara Bailey
- 06/25/2019 - OMEGA Spotlight-Big Catz BBQ
- 06/11/2019 - OMEGA Spotlight-Kim Figgins
- 05/23/2019 - OMEGA Spotlight-Kava House & C
- 05/14/2019 - OMEGA Spotlight-Stevie Dumbuya
Payments Industry
- 03/06/2019 - Merchant Rules To Live By
- 01/09/2019 - Account Tune Up for the New Ye
- 09/19/2018 - Has Your Bottom Line Seen the
- 09/18/2018 - Are Your Business Merchants’ S
- 05/22/2018 - Interchange Explained
- 04/11/2018 - What to Avoid When Searching f
- 04/06/2018 - The Importance of Choosing You
- 12/21/2017 - The Basics of Chargebacks
- 12/12/2017 - No Need to Sign on the Dotted
- 07/26/2017 - Back to the Basics - Merchant
- 03/17/2017 - Innovation Project 2017
Point-of-Sale Systems
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Products and Services
- 10/03/2018 - Are Your Business Customers Se
- 08/15/2018 - Introducing Poynt… The World’s
- 06/11/2018 - Interchange Savings Tool Now A
- 01/03/2018 - Data Breach? We Got Your Back
- 12/27/2017 - How Does OMEGA Protect Your Cu
- 12/12/2017 - New Year? New Goals? New Capit
- 12/06/2017 - Process with the Best
- 09/06/2017 - Unlock Cash Flow Opportunities
- 08/30/2017 - Are You Hungry for the Details
- 08/09/2017 - Happy (2nd) New Year!
- 11/30/2016 - Are You Ready?
Short-Term Capital Funding
- 09/28/2017 - No-Hassle Business Funding fro
- 12/30/2016 - What’s on Your Business Wish L

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WHAT OUR MERCHANTS ARE SAYING

"I wanted to tell you what amazing sales and support team you have. I worked with Dennis and Becca and they are amazing! We really appreciate the service and follow up service we receive from both of them. As small business owners that personal touch means a lot. Again thank you for your team's great customer service before and after the sale."

Hoover Chiropractic Clinic

"I love that I can call, speak to a person on a personal level who is friendly and always takes time to help. Statements are clear and easy to understand."

Expert Auto Service Inc.

"The responsiveness of our sales representative was outstanding and she was able to come to our business several times to assist with the transition. Your pricing and the product features were also outstanding."

Halmar Corporation

"Our representative has been excellent to work with. If I ever call, she either answers or calls me back just a couple of minutes later. She's saved me a ton of money, and the service is excellent."

Giovannis

"We really appreciate OMEGA Processing's Online Merchant Portal. It's very easy to access and, most importantly, it's easy to understand. OMEGA's way of doing things is so much easier than our prior processor!"

Swain's Furniture

"OMEGA Processing's quick response and focus on service and cost effectiveness is outstanding. I would recommend OMEGA to any of my colleagues with a dental or medical practice."

John Strief, D.D.S.

"When we were considering switching to OMEGA for our credit card processing, our Account Rep spent a lot of time explaining the savings we could expect and why. He explained how to read the monthly statements and what the process would be for switching. He answered all of my questions patiently and completely. The process could not have been easier."

Horton Family Dental

"I was so impressed with Julianne from your Customer Service Department, with whom I worked this morning. She was patient, kind and knowledgeable. Really a huge help to me!"

Relogistics LLC

"We always receive top-notch service from OMEGA. Reps return calls/emails quickly and either have answers or can find them almost immediately. Keep up the great work!"

Sumerel Tire Service, Inc.

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OMEGA Processing Solutions is a registered ISO/MSP of Deutsche Bank Trust Company Americas, New York, New York.
OMEGA Processing Solutions is a registered ISO/MSP of Woodforest National Bank, Houston, Texas