12 Reasons Why Business Owners Avoid Merchant Services

The U.S. economy is growing, and with that more and more small & medium size businesses (SMEs) are in need of new credit card processing capabilities. It's no secret that many merchants have had a negative experience or at least perception of the credit card processing industry. A small sample of merchants were recently asked about their experience when establishing merchant services for their business. Whether the merchant service account was sold through a bank or independent sales organization, it appeared that a majority of business owners had similar thoughts when it came to shopping for competitive rates.


We focus on 12 of the most common reasons business owners were reluctant to switching from one processor to another. In no particular order:

1. Paperwork is too much of a hassle

2. Negative customer reviews

3. Complex pricing structures

4. Long term contracts or early termination fee

5. High equipment cost and leases

6. No rapport with salesman

7. Not a priority for the business

8. Undisclosed (hidden) fees

9. Frustrating installation process

10. Not enough savings

11. Unsupported language for customer service and support

12. Exaggerated savings seemed too good to be true

The list can go on to reflect various experiences from merchants across the country. Learn more about how Merchant Intelligence Report helps to mitigate many of these concerns.