Anybody dealt with 'PaymentSense' Merchant Co???

Discussion in 'Retail' started by Stevie Wonder, Feb 29, 2012.

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  1. Stevie Wonder

    Stevie Wonder UKBF Contributor Free Member

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    Just been approached by 'PaymentSense', a company looking to quote me on card processing.

    We are currently with Barclaycard and the rep from 'PaymentSense' is of course promising huge savings :)

    Any heard of or dealt with this firm?
     
    Posted: Feb 29, 2012 By: Stevie Wonder Member since: Mar 5, 2011
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  2. HawthornCraft

    HawthornCraft UKBF Newcomer Free Member

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    Hi,

    We use them, we have fixed costs and their customer service (for us) has been great. They set us up in 3 days originally and haven't had any issues. At the time they were definitely the cheapest we were quoted as well and cheaper by far than any of the banks.

    Hope that helps!
    Hawthorn
     
    Posted: Feb 29, 2012 By: HawthornCraft Member since: Mar 30, 2011
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  3. business123

    business123 UKBF Newcomer Free Member

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    Been using them around a year now and no problems at all, I'd recommend you comparing their rates with Barclaycard. Once I had completed the paperwork the card machine was delivered within six days.
     
    Posted: Mar 1, 2012 By: business123 Member since: Dec 18, 2006
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  4. Strath

    Strath UKBF Newcomer Free Member

    308 20
    We use them in 3 shops, and they are really good. Prices are good and service is great. In the past we've used HSBC Global Payments & Streamline. Payment sense are the best of those 3
     
    Posted: Mar 1, 2012 By: Strath Member since: Jun 6, 2007
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  5. windlesham

    windlesham UKBF Contributor Free Member

    94 42
    Yep,
    they aren't a bad company. quick turnaround and cheap rates. However,you'll be tied into a five year contract so I would advise taking the figures back to your current provider before signing
     
    Posted: Mar 2, 2012 By: windlesham Member since: Apr 26, 2011
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  6. willj87

    willj87 UKBF Newcomer Free Member

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    Can I just ask, as a general question to something I get a lot with being in the same business as PaymentSense... If your current provider has been overcharging you for X number of years, and someone spends their time to come in and try to help your business save money (admittedly, yes, it is sales), why would you want to give your current, overcharging provider, the chance to keep your business? It really confuses me. In life, if something is cheaper elsewhere, with the same or similar level of service, I'll use the cheaper alternative. I'm not saying that I don't just stick to the cheap things... I always try to buy from independent retailers, who are often more expensive, but have a better level of service. Does the company that has offered you a cheaper, as good service not deserve your business?
     
    Posted: Mar 3, 2012 By: willj87 Member since: Aug 6, 2011
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  7. Sparx

    Sparx UKBF Regular Free Member

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    Now see it from the company's point of view, why would they contact existing customers and say "hey, we fancy lowering our profit margins - do you want a review of your account?" - I think in the merchant services industry, it is more of a "you don't get unless you ask!" sort of thing..

    Merchant account providers are always happy to review existing customers accounts when the customer asks, but a company will not want to spend its resources having a team of people contacting their existing base of customers just to lower their total revenue and profit margins..

    Similar to Sky, Virgin, BT, etc.. None of them ring you at the end of your TV/Phone contract do they and say "hey, you've been with us a few years, do you want us to lower your monthly rental?" - however on the flip side, if you get a quote from another company and ring up asking to cancel - they somehow come up with "oh well, we'll lower your monthly rental from £35 to £25 p/m if you stay with us!"..

    See what I mean? ;)
     
    Posted: Mar 3, 2012 By: Sparx Member since: Sep 16, 2010
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  8. willj87

    willj87 UKBF Newcomer Free Member

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    No, I agree that from a business point of view it's not the best move to contact customers and reduce their rates. But when a merchant is being over charged by £30+ a month, and has been for years, why would you want to be loyal to your current provider?!

    I'm not saying that companies should start doing it, and I'm not complaining that they don't... I'm just bemused why anyone would stay with a company that had been overcharging for years. I left BT for that very reason... along with the poor customer service. They offered it to me for cheaper, but they'd missed their chance.
     
    Posted: Mar 3, 2012 By: willj87 Member since: Aug 6, 2011
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  9. windlesham

    windlesham UKBF Contributor Free Member

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    The customer will have one of two options, sign up for paymentsense or a similar provider on a long term contract (usually 4/5 years) Or call their current provider and see if they'll drop their rates. If the latter happens then they have the benefit of low rates and no tie in.

    Let's not pretend, you, as a sales person are going in their doing them a favour. You're wrapping them up in a long term contract so don't expect any form of appreciation from a customer.
     
    Posted: Mar 3, 2012 By: windlesham Member since: Apr 26, 2011
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  10. willj87

    willj87 UKBF Newcomer Free Member

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    A lot of the time when a merchant rings up their current provider, they'll again tie them in, often with the merchant being oblivious to this happening. I say this from experience.

    With the product, as a salesman, I do often feel that I'm doing people a favour, saving them hundreds if not thousands of pounds annually. Fair enough, my job is to sell a product, but it's not like I'm selling something that people don't need. Many of my customers see what I'm doing as a favour also, otherwise they wouldn't pass me their friends and families business too... At the end of the day, people not in the industry probably won't understand the product and the pro's and benefits that can come with changing provider. Those who understand, always change, and appreciate.
     
    Posted: Mar 3, 2012 By: willj87 Member since: Aug 6, 2011
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  11. windlesham

    windlesham UKBF Contributor Free Member

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    I use to work in the industry as well and now just generate leads via the web and telesales for a multitude of card company reps.

    First of all you know full well that it's unlikely streamline, barclays or HSBC will tie anyone in after their initial contract period - you're not pitching to a customer here so there is no need to pull that line.

    If you're finding it difficult to avoid the customer going back to their initial card provider then you need to work on your sales pitch and start closing those deals on the spot. As soon as you walk out the door you can bet your life they'll be on the phone to their current company so you need to get it a signature on the first meeting.

    I don't understand why you think customers will believe you're doing them a favour. All you're actually doing is flicking a light on in their head telling them that better deals are available.
     
    Posted: Mar 4, 2012 By: windlesham Member since: Apr 26, 2011
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  12. willj87

    willj87 UKBF Newcomer Free Member

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    Unlikely that Streamline will, but I've had recent experiences of Barclaycard, Global Payments and First Data doing this. So please try not to be so patronising... I'm not on here to argue. And I'm certainly not trying to pitch to you.

    I never said that I was finding it hard, and again, why be so patronising? Do you know EVERYTHING there is to know about everything?

    Again, I've never mentioned that every customer will feel like I'm doing them a favour. But yes, some do, and I have gained further customers from them as a result. If you've been in this industry, or any other sales industry, you should know as well as anyone that there will always be people that categorically will not sign there and then... it's just the way it is.
     
    Posted: Mar 4, 2012 By: willj87 Member since: Aug 6, 2011
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  13. BenKirkwood

    BenKirkwood UKBF Regular Full Member

    294 48
    I like the PaymentSense solution for switchers : "we will never be beaten on price"; even if a merchants existing provider lowered their rates, we would match or beat the lowest rate offered and cap the rates + give a better and more reliable level of service than SME's are used to.

    As for giving existing providers a chance to lower their costs after years of poor service and high costs well, you have to appreciate that by the time most businesses are looking to switch merchant service provider, its not only the cost that is a factor. For the majority of switchers, they wouldn't stay with their existing provider because of the history and the realisation that there is something better and cheaper that they have been missing out on.

    I guess this all depends on who turned the light on! (I'm in marketing :p) - Also, we're not like dealing with a Bank, we have a personal touch and take each business through the process in simple steps; many small businesses are genuinely grateful when we (marketers, sales people etc.) awaken them to the truth.

    Ben
     
    Posted: Mar 4, 2012 By: BenKirkwood Member since: Aug 4, 2010
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  14. clarebennett

    clarebennett UKBF Newcomer Free Member

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    Payment Sense is a long contract so whilst they are giving you lower rates they are gaining a long term comittment from you. Barclays are usually non negotiable, why not have a ring around and see what other merchant service providers can offer you?
     
    Posted: Mar 4, 2012 By: clarebennett Member since: Mar 4, 2012
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  15. Sparx

    Sparx UKBF Regular Free Member

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    Yes, they are tied back in as that is an industry standard to me.. However they never (usually) tie you in again for a further 3-5 years.

    I know at CardSave if a merchant is out of contract, and we review their rates, we just put them on another 12 month contract and that's it.. We don't tie them in for 3-5 years.. :rolleyes:
     
    Posted: Mar 4, 2012 By: Sparx Member since: Sep 16, 2010
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  16. windlesham

    windlesham UKBF Contributor Free Member

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    Will,

    I wasn't trying to be patronising, I'm sorry you interpreted it that way.

    Perhaps it's advisable to develop a thicker skin.

    Best of luck
     
    Last edited: Mar 4, 2012
    Posted: Mar 4, 2012 By: windlesham Member since: Apr 26, 2011
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  17. BoxClever

    BoxClever UKBF Newcomer Free Member

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    Hi,
    I am a Regional Development Manager for Paymentsense, interestingly we encourage our customers to review their rates each year even though they are capped for the duration of the contract. I see that there is a negativity about signing anything for 5 years... for those 5 years your rates can only go down not up. If my gas supplier offered that or my mortgage provider did the same I would certainly sign on the dotted line!
    I can see an argument about contacting your existing supplier but they would have been quite happy taking your money year after year after year. I have recently saved a company £2000 per year and an eCommerce site £7,000 per year. I'm proud of doing that and I can sleep easily in my bed at night.:)
     
    Posted: Mar 13, 2012 By: BoxClever Member since: Dec 6, 2011
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  18. windlesham

    windlesham UKBF Contributor Free Member

    94 42
    If a customer is tied in for five years Paymentsense has no incentive to lower these rates. If you had it written into your contract the rates would be reviewed every so often based on the t/o with a view to reducing them your sales spin may seem more plausible.

    Unfortunately, you don't.
     
    Posted: Mar 14, 2012 By: windlesham Member since: Apr 26, 2011
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  19. fathippy

    fathippy UKBF Enthusiast Free Member

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    Whilst I dont have any qualms with the general product and level of customer service of Payment sense, I am concerned by a slightly spivvy nature of the sales pitches. It is quite agressive selling, but then I suppose it needs to be to be the fastest growing etc etc.

    In my case I actually contacted Paymentsense after a web search as I was going around the providers to see who was best, after my previous provider decided to put their rates up. This was early last year and I was also being threatened with new compliance/security (DSS?) fees, so I thought it a good time to move.

    I was at the time told that Paymentsense were not going to charge any DSS fees, and that I could bring my DSS certification across from my provider. I also refused to get tied in for 5 years, not because I didnt want the service for that long, but that I could not guarantee that the limited companies would still exist, and I didnt want to create future problems with corporate re-organisation. I was assured that this tie-in would not apply in this case, and that this was only to prevent moving to competitors.

    One year later, and I wasnt allowed to use the old DSS certification, so had to pay a few months of "non-certified" fees, then recently they have introduced a £4 a month DSS monitoring fee. Furthermore, I closed one of the entities at the end of 2011, and they are still asking me to "pay up the contract" for the remaining 4 years. When I pointed out both the original agreement (email) and also that the company in question had closed, was told that I had personally guaranteed everything (which I hadnt - I had merely provided my details in the application form). This seems strange behaviour when I still had eight other accounts with them.

    To be fair, even with the extra fees, these are still competitive rates, however I am not sure why the company feels it necessary to be so aggressive with its customer relations.
     
    Posted: Mar 14, 2012 By: fathippy Member since: Jul 17, 2008
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  20. windlesham

    windlesham UKBF Contributor Free Member

    94 42
    A considerable number of the independent card processing companies are independent and employ on a self employed commission only basis. The result of this is that you get a mixed bag of people representing the company. With anything in life the morals and business practices vary from person to person

    Paymentsense reps don't have a defined territory and the company sets no limit on the amount of reps they employ so you'll often find them competing against each other for business.

    But, the company is on the whole well run and operates an ethical policy which sees sales reps that miss sell removed. They do have quick set up times and they do on the whole deliver what they promise in the CONTRACT. It's just a case of differentiating between what's written down on paper and sales spin.

    For instance it's very unlikely they would lower your card fees if your business increased when you were in a 5 year contract. The only reason they would consider this is if they were going to lose your business.
     
    Posted: Mar 15, 2012 By: windlesham Member since: Apr 26, 2011
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