What's Important To Merchants?

Today’s merchants are a bit more astute than previous generations. They better know what they want, when they want it, and it better work as advertised. In this exclusive interview, Patrick Ward, VP of Channel Sales at NAB Velocity, explains what it is merchants are really looking for, as well as how to deliver.

BSM: What are merchants considering beyond rates when evaluating credit card processors?

Ward: Merchants today are savvier than ever when it comes to evaluating processors. While rates and fees are important, many understand that is just one aspect to a processor. Merchants today are looking beyond the financial aspect and evaluating processors on things such as support, technology, security, and the full suite of services offered. They want the processor to be a partner in their business, not just one that handles the credit card transactions.

BSM: What do you mean by support?

Ward: Since merchants are truly looking for a partner, they want a processor that is going to be there beyond the installation. Yes, they want a quick and seamless install, but they want someone who is willing to assist if there are technological or billing issues. Access is the key; they want to know someone understands who they are and how they depend on the batches they process. They are looking for someone to help ensure their business stays at the forefront of technology and security. Really, they want someone to help them stay ahead of their competition.