merchant services for small business - Financing the business: right information, right investment. merchant services for small business - Financing the business: right information, right investment.


Merchant services are services and solutions businesses rely on to process customer payments. Businesses both large and small rely on merchant services for reliable and efficient payment processing. Finding the best service providers for your specific business needs starts with knowing what's available and how these tools work. Here's how top-selling service providers are helping businesses today and how to find the right service provider for you. In this article, we tried to explain merchant services for small businesses.

How can a merchant service provider help my business?

Merchant Service Providers make it easy to set up payments for your business. They make the process easier and simpler for the customer. They help keep your information safe. They can also offer flexible options for mobile and POS payments.

Merchant service providers typically provide access to the following tools:

  1. Card payment process,
  2. Online payments,
  3. point of sale systems,
  4. Vendor accounts.

These features are the biggest advantages that distinguish the merchant from its competitors. Card Payment Processing Most people think of merchant services as tools for processing debit or credit card payments, and it's true that this is an essential part of the service. Payment processing services allow you to offer your customers a variety of convenient and diverse payment methods.

A merchant service provider for your company ensures your customers' means of payment are secure and your team can rely on an easy-to-use and effective solution. this system will provide technology that verifies that payments are authorized before they are deposited into your bank account. This protects your business against fraud, bounced checks, and other failed payment methods. Online Payments Many merchant service providers also support secure online payments via a website.

merchant services for small business

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point of sale system

In addition to direct payment processing, most point-of-sale providers also offer a complete point-of-sale (POS) system. These two services complement each other and both aim to streamline transactions for a business and its customers.

The complete point of sale system includes both in-store and mobile payment methods. It also allows you to streamline certain parts of your business such as:

  1. Track inventory and sales over time,
  2. Manage employee information,
  3. Payment and commission tips.

There may also be extras such as a point of sale system, card branded gifts or loyalty programs.

Vendor accounts

Most merchant service providers also maintain a merchant account for businesses. However, what is a merchant account?

Simply put, a merchant account is a specific type of bank account that accepts multiple payment methods. There are two different types of accounts in Merchant Services: Private Accounts and Bulk Accounts. The main difference is the number of companies that "share" the account.

Personal account working directly for your company. Money offered in transactions, less transaction fees, is deposited directly into your bank account. Merchants can fix errors on your behalf, respond to potential fraud, and bill your account for customer "chargeback" requests.

You will be the only company that performs credit card transactions through a private merchant account. All controls will be in your hands. For many business owners, this type of security can provide peace of mind.

On the other hand, pooled accounts (such as those offered by services like PayPal) use a single merchant account to provide credit card processing to a group of entities.

Funds offered in transactions will go to the service provider before being deposited into your bank account at the provider's discretion. The downside of using bulk accounts is that they have the power to create and change rules on their platform. Therefore, it is important to pay attention to the contract terms of these accounts.

How to Find a Top Selling Service Provider

Seller services can and will vary between providers depending on what they can offer your business. Some can only manage merchant accounts and nothing else, while others offer end-to-end payment processing. Ideally, the best merchant service providers will meet all or most of their business needs. Instead of coordinating tasks, you work with a single supplier for each payment from start to finish.

A "can do anything" supplier can help your business now and as it grows over time. They can also streamline and automate some of your daily tasks as a business owner.


What sets the best business service providers apart from the rest?

Excellent Customer Service

In addition to finding a complete solution, you should also look for suppliers that not only meet your solution needs but are also easy to work with. Every time you call with a question, you want it to be a good and productive experience. The best suppliers always provide open communication. When you have a problem, you need an expert customer service team who can answer your questions or concerns via live chat, email or phone calls.

They also need to take your business seriously. Your business is your top priority, and your service provider should feel the same way. Find someone who will be with you for many years and provide a designated accumulator for your account.

Finally, a great reputation goes a long way. Find out what other business owners are saying about the supplier you're considering.

Focus on security

Work with a service provider who can keep your customer information safe. They should also protect your business with high standards of protection.

excellent value

Find a supplier who is honest and open about the cost of their services. Fees should be reasonable and predictable.

Offer Flexibility

With its flexibility feature, it is often very useful for new business owners. Consider a company that has no contracts or may offer you shorter contract terms. Once you have confidence in the services they provide, you may want to consider signing a longer contract.

Choose the best selling service provider

Consider your current specific needs and potential future needs to compare top selling service providers. Take the time to write down the features that are important to you and your business.

Whether it's communication, reliability, extra features, price or more, you should consider your main concerns. Keep this list handy as you search for suppliers for your business.

Learn more about PaySimple Merchant Services

At PaySimple, we combine our business services expertise with a truly flexible payment processing solution and a team ready to assist you and your business. We offer private merchant accounts to put you in control and help you create reliable and easy ways to pay your customers.

We're also your partner, making sure you're at the forefront of consumer habits so you can always make the choices your customers want. This is what sets us apart and makes us one of the best business service providers. 

In this article, we tried to explain merchant services for small businesses.

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