If you talk about credit card processing to any business owner regardless of location or industry you'll find that there seems to be this general opinion that it's more of accessory and expense rather than a productivity and advertising tool.
Just the other day I was talking to my plumber (who's wife designs kitchens) about the progress on his showroom floor that had been underway for the past six months, and as we were walking around his gorgeous show room I noticed a credit card terminal sitting on the table next to the receptionists desk.
I wasn't interested in pitching him on the services my company could provide him, however I was curious as to what company provided him with his merchant account.
So I asked him, "who do you process credit cards with ?" his response was a real head scratcher "Oh I don't know because we hardly use it, it's too expensive to use…" since I wasn't interested in shifting the conversation to merchant services, I just continued with our discussion of his plans to expand his product line of new Italian faucets that cost and arm and leg.. But that's another story for another day.
What I can't understand for the life of me is why business owners have such a distorted view of credit card processing, so being the analytical women I am I began to search online and compare countless websites of merchant service providers.
My findings were disappointing to say the least, I don't say that because I myself am the CEO of a merchant service provider but I say that because it's clear that merchant service providers today have forgotten the one thing that should never be forgotten.
Products and more specifically services are always about the end result, it's never about the features… it should always about the benefit that is achieve by purchasing the product or service because it genuinely makes life just a little easier with it than without it.
The problem today is that just about every single credit card processing company is running around talking about price, everyone has a guarantee that they are the cheapest price and that's all anyone seems to be able to talk about, which I think it really sad… I mean common can't anyone be daring enough and the least bit original?
Don't get me wrong price is important and it has it's place but it shouldn't be the focus in the decision making process of wether or not to sign up for merchant services with a particular company.
However in today's economy I understand why business owners do it, when you have hunreds of credit card processing companies and all they can manage to market themselves with is the lowest prices backed by their guarantee… well I would think business owners don't see much of a difference between any two companies.
The main point I want to be crystal clear to you today is that, I believe that merchant service isn't supposed to be about credit card processing but about providing the needed services to merchants that help them grow their customer base, increase efficiency, cashflow and give them more time to make the important choices that will ultimately move their business in the right direction.
What benefits do you believe credit card processing provide?
(Use the comment box below, I am really curious to read what you share)