Page 191 - Schooley Mitchell Marketing Manual
P. 191
SCHOOLEY MITCHELL
MARKETING MANUAL
Cheat Sheets – Merchant Services
Manual Revised: April 3 2025 Confidential
- 186 -
Merchant Services Cheat Sheet
Fact Finding /Document Gathering Best Practices
Ask for online access to all merchant services processors
Ask for contracts for the merchant services account and any lease or rental equipment agreements
Ask the client to explain how they accept transactions in all facets of their business (in-person, online, over the phone)
Ask about software or point-of-sale integrations
Ask if they use QuickBooks desktop or online
Review the client’s website to see if there is any way to accept payments online
Briefing Points
Category Pain Points
Merchant services invoices are very confusing and difficult to understand
Miscellaneous surcharges and rate increases are difficult to identify and are often added to invoices
without notice, so clients are unaware of the changes
Customer service with merchant services is lacking, which can result in several hours of hold time
Rates change twice a year
Integration may not be a “one-supplier” solution only. There are options.
Aggressive sales representatives are always on the doorstep, we take care of that for you
PCI Compliance is an annual headache that we can remove
Implication Questions
Do you have software to identify errors on past invoices?
Do you have a tool to stay on top of numerous merchant services market changes every six months?
How do you stay on top of PCI Compliance issues each month?
Do you have a tool to isolate any surcharges and miscellaneous charges each month?
Savings Opportunities
Negotiating lower discount rates and fees
Removing monthly and annual fees
Identifying Level II and III optimization rates when applicable
Optimizing processing environments
Real Client Stories
Manufacturing Company
I hate when vendors aren’t helpful to their own clients.
Our client, Jon, is the owner of a multi-million-dollar manufacturing company, and he suspected he was overpaying for credit card processing services. Their merchant services provider had locked them into a tight three-year agreement which was peculiar in merchant services. Jon was trying to figure out the pricing on the monthly statements, but it was almost impossible. He was actually losing sleep over his frustration. Worse yet, every time he tried to engage with a customer service rep at the vendor, he would leave the phone call more
OR INTERNAL USE ONL
FY