Experts predict that we will soon be a completely cashless society. In fact, a recent Reuters survey showed that 20% of customers already rely solely on credit cards and other forms of online payment for their purchases. What this means for merchants and online sellers is that the volume of credit card transactions is on the exponential rise, and staying competitive in the marketplace requires the right payment processor.
How it works?
As merchants and consumers, we’ve become accustomed to instant credit card transactions. A credit card is either swiped, inserted into an EMV chip reader, or entered into an online payment page, and within seconds an approved or decline message comes in from the bank. But a whole lot more goes into those few seconds:
When a credit card is charged, a message is sent to the credit card network (e.g. Visa, MasterCard etc.). The network communicates with the cardholder’s bank to confirm if the charge should be approved or declined (i.e. the card is valid, the funds are available etc.). The network then transmits the bank’s reply to the terminal or website attempting to make the charge.
Where do we fit in?
The problem merchant’s and online sellers run into is that the banks and credit card networks are major conglomerates that generally won’t interact with them. This means, to accept credit card payments your business needs a merchant services provider that will communicate their transactions to the networks and banks. Additionally, merchants need the hardware and technology to be able to accept credit card payments, and online sellers need a secure and easily integrated payment page.
This is where we come in. These are some of the solutions BMS provides to keep your business competitive in the world of credit card commerce:
- We communicate with the banks and credit card networks to ensure that your credit card transactions are completed safely and quickly.
- We provide 24/7 support to ensure the needs of your business aren’t being ignored by the major companies.
- We offer the latest in credit card terminal technology, including EMV chip readers.
- For e-commerce and online sellers, we offer a secure payment page, that easily integrates directly onto your website.
Why us over them?
When you’re choosing a merchant services provider, the most important factors are transparency, security, customer support, and low rates. Our services are specifically designed to address these needs. Our fees are clear and simple to understand, and we offer the lowest rates in the industry. We offer 24/7 live support, and our knowledgeable support team is always available to address your any need.