Merchant Services.

[Ian Spielman]

I know this might not be quite the right place BUT.......

Have to be honest here.

Having worked as a business development manager since Nov 2011, I have become extremely frustrated with certain elements in the Merchant services sector.

In particular, there are those that allow their reps to reach their sales targets, using less than reputable, ethical and/or fair tactics. I'm loath to name them, but its strange how the same names keep cropping up time and again! they are giving us a very very bad name!! Especially as my motto is to outline every charge that one can/will incur in detail so the prospective client knows what they are getting!
Time and again I get asked what's the catch? So and so are cheaper!
Even though I know they often have hidden charges or have bad business practices etc, I can't say anything and even if I did they wouldn't believe me!! (not in all cases I might add)

Surely this can't continue?!?

Thoughts if any are most welcome.

 

[CharityClear]

Name and shame.

 

[LMDServicesUK]

As a fellow industry practitioner I could not agree more, the level of blatant cowboy behaviour in our field is becoming a real issue especially as a lot of start ups are coming into this (already) crowded market place thinking it is another easy route to profit ( remember PPI, Utilities etc), and are tending to use commission only sales reps who are by their very nature driven to close the deal on the day, without always fully explaining the proposition or worse ensuring it is the right proposition for the business they are talking to..

I am very proud that 95% of my Merchants are still with us, and that is because I always try and be honest and transparent and I have walked away from deals where I felt I was not the right solution.

Guess what, I now get referrals via my old customers, so I must be doing something right !

Back to the original point of this OP, I think we should name and shame or at least raise a CAUTION sign re these companies (we know the same names keep cropping up) based on what I have seen over the last few years..

We can easily mention them, and just suggest to potential Merchants that they exercise caution when dealing with them, or talk to one of the various Posters on this Forum who offer these services on a more ethical basis.

At least we are happy to stand up and be counted..

Rgds

Mark

 

[Ian Spielman]

As a fellow industry practitioner I could not agree more, the level of blatant cowboy behaviour in our field is becoming a real issue especially as a lot of start ups are coming into this (already) crowded market place thinking it is another easy route to profit ( remember PPI, Utilities etc), and are tending to use commission only sales reps who are by their very nature driven to close the deal on the day, without always fully explaining the proposition or worse ensuring it is the right proposition for the business they are talking to..

I am very proud that 95% of my Merchants are still with us, and that is because I always try and be honest and transparent and I have walked away from deals where I felt I was not the right solution.

Guess what, I now get referrals via my old customers, so I must be doing something right !

Back to the original point of this OP, I think we should name and shame or at least raise a CAUTION sign re these companies (we know the same names keep cropping up) based on what I have seen over the last few years..

We can easily mention them, and just suggest to potential Merchants that they exercise caution when dealing with them, or talk to one of the various Posters on this Forum who offer these services on a more ethical basis.

At least we are happy to stand up and be counted..

Rgds

Mark

Mark, firstly, nice to hear that i'm not alone in this.
However, I must say that I am probably one of the few who are commission based yet still have this ethical viewpoint.

I must stress that because of my views and blatant honesty regarding the fees, I have lost far more potential clients then I have gained, thereby costing me lots of money! however, I will NOT budge from beliefs!

As for naming and shaming, there is no need, all one has to do, is read the posts on this very forum!
Of course, every company will have clients/accounts where things will go wrong but...............!!!