Merchant Services Worth Considering

by admin on September 27, 2011

In the United States, the term ‘merchant services’ refers to a major category of financial services, intended to be used by business entities. More specifically, the term is used to denote services through which companies accept payment transactions by debit or credit cards. Merchant services encompass check conversion and check guarantee services, processing of debit and credit card payments, payment gateways, and point of sale systems. Merchant services also refer to loyalty and gift card programs, direct mail and email marketing, online ordering systems, as well as merchant cash advances. As you can see, the list is long enough. But what do US banks have on offer for merchants?

The Bank of America claims to help merchants expand their payment options, increase revenue, and simplify their business operations. The bank’s merchant accounts enable merchants to accept electronic checks, gift cards, debit and credit cards, and other payment options. The bank offers solutions to meet the needs of business owners from a variety of industries. Bank of America specializes in retail, restaurants, professionals, service with tip, lodging, internet and e-commerce, mail and phone orders, as well as trade services. Service with tip, for example, refers to business entities that normally receive tips like taxi and limo services and salons. Trade services related to mechanics, technicians, contractors, and other services specialists. In addition, the bank offers a variety of merchant products and processing services, featuring convenient, cost-effective, and secure one-stop processing. Small business solutions refer to an array of point of sale solutions intended for small business owners. Corporate solutions encompass efficient and flexible corporate card processing solutions. These go with a variety of benefits such as transfer speed, innovative reporting tools, access to credit card funds, efficiency, and others.

PNC is another financial institution that offers merchant services to different types of businesses. The merchant services offered enable merchants to accept various forms of payments. Their customers can use electronic benefits transfers, corporate or purchasing cards, electronic check services, or credit cards. Other accepted forms of payment are signature or PIN debit cards, gift cards, as well as wireless transactions. PNC claims to offer top quality services by supporting a variety of authorization protocols, which helps meet the processing requirements of merchants. These include frame relay/ leased line, batch processing, dial-up terminals, touch tone capture, and voice authorization. A representative of PNC will assist you as to determine what the right authorization method for your company is. Another beneficial option that goes with merchant services is online information reporting. Merchants have access to their account information online, while reporting is available any time through PNC’s website. ClientLine Reporting tool represents a powerful and sophisticated online reporting tool available to merchants. 

If you still want to shop around, you can check the services offered by Sovereign Bank. The bank works in cooperation with First Data Corporation to offer a variety of merchant services. The bank features various payment processing solutions for credit and debit card acceptance, high speed terminals, phone payment capabilities, wireless terminals, and gift card programs. Merchants can rest assured that payment processing is convenient and secure. These payment solutions attract clients, build loyalty, and make the purchasing process safe and convenient. The bank specializes in home, medical, restaurant, and retail services, telephone and mail orders, and internet services.  In addition, the bank is developing cutting-edge payment processing, which functions though plastic and chip cards and virtual accounts, from any device connected to the Internet. Regarding credit cards, merchants can accept all major credit cards, including MasterCard, Visa, American Express, Discover, and others.

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