According to a J.D.Power press release this past Thursday, merchant’s satisfaction with their payment processors has declined. Small business owners have become frustrated with processing fees and technology issues that arise when customers try to pay with a card or mobile wallet. Big banks, legacy payments companies, and younger fintechs are all competing to process payments for merchants and to offer other services. The survey also pointed out that two thirds of small businesses said that inflation is having a significant impact on their business and the cost of processing fees imposed by their merchant services provider is causing more struggles for their business.
Technology issues are also a point of frustration. Just 43% of transactions are completed without assistance. The most common issues include cards being declined, issues with tapping, dipping or swiping, frozen screens and receipt problems. In the meantime, mobile wallet use is increasing and merchants are looking for high quality technology that works every time.
We take our client’s business serious. If their system is not working, our business is not working. We customize our payments solutions to each business and have partnered with the best terminals and POS manufacturers in the world to make sure you have the best equipment for your business. Our flagship product, FEEPASS will help you eliminate all of your processing fees to help you save and grow your business. Contact us today for more information.