Here’s What Retailers Expect from Credit Card Processing Services

How well does your payments partner address merchants’ needs in 2022?

As a software developer, it’s easy to think of partnerships with credit card processing companies in terms of how they impact your business. Of course, you know first-hand the importance of integration and technical support and the terms of ISV partner programs. But have you ever taken a hard look at your credit card processing partner from the perspective of your users?

Consider these four factors to determine if your partnership is just as beneficial to your clients as it is to your business:

1. Transparency

Some of your clients may have the impression that credit card processing and processing fees are hard to understand. Depending on which company your client worked with in the past, they may have struggled to understand their contracts, reports and fees. The best partner for your company is one that is completely transparent with its customers, clearly communicating how its services work and exactly what they cost. Also, ensure that your users know upfront what canceling or changing a contract would cost.

In addition to ensuring your users understand the terms of working with the company, take time to educate your sales reps and resellers. Make sure your team can answer questions about credit card processing and never give the impression that you are working with a company you don’t understand or that you are hiding something from your users.

2. Accessibility

Another expectation retailers have for credit card processing is that they can get help when they need it. Fully investigate your potential partner’s track record of providing timely support and service. Also, understand how easily your sales reps or channel partners can get the answers they need or sales support when they’re helping retailers add new services.

3. Industry Expertise

Before partnering with a credit card processing company, one must know their areas of expertise. Each merchant requires different credit card processing capabilities. For example, some merchants primarily need card-present EMV payments. Others need payment gateway services for online payments, and some also need unattended payments for self-service kiosks. Make sure your partner understands your market and can deliver the solutions your users need.

4. The Power to Innovate

Credit card processing companies, like merchants, have worked hard to keep up with changing consumer behaviors and payment preferences over the past few years. However, a solution that delivers all of the payment functionality a merchant needs today may not meet all of their needs in the future and enable them to continue to operate competitively.

Talk to your payments partner about their development roadmap and how they plan to deliver the emerging payment methods they see on the horizon. Also, ask how you can provide those payment capabilities to your clients, either through integration with your solution or by offering them as standalone or value-added services.

A Different Perspective on Credit Card Processing Services

Credit card processing companies continually contact retailers in an attempt to win their business. Show your users that you can offer them a total solution that includes the payment functionality they need while also providing them with services that meet their expectations for accessibility, transparency, industry expertise and innovation.

Viewing a credit card processing company through the lens of a user can help you form the best partnerships, increase user satisfaction, and add value to the solutions you provide.

To learn more about North American Bancard partnerships, please get in touch with us.