I wanted to let everyone know a little bit about our merchant account management and how we help clients not only secure, but manage their merchant accounts
So, of course every clients needs are different, some clients hate filling out paperwork so we do it for them. Others actually enjoy it so pricing varies per clients depending on much work is needed. Also, if less work becomes we needed we have no problem adjusting once everything is running smoothly or if the account becomes more labor intensive in terms of volume, strategy, closures and so forth. Typically a review is done after three months.
To start, we setup a meeting to discuss goals, projected volume (where you want to be in 3, 6, 12 months) as well as your current processing situations and corporate setup. Once we get that info, we agree on a plan and jump right in.
Some of what we do includes:
- Initial organization of all current merchant accounts, agents, and current corporations using Dropbox. You will have a very organized system to sign docs, and send documents to us.
- Submit paperwork to new merchant providers.
- Complete all merchant applications for you regardless of which agents you are working both domestic and offshore. This is part of the service if needed.
- Handle all documentation including incorporations required by the banks, structure responses to all inquiries made by underwriters at each bank.
- Mid set up and all correspondence to the gateway provider to make sure you go live.
- As new banks open up, we will automatically submit your paperwork to the processor(first rights). More so, since we don’t have layers of agents to pay, our goal is to make sure you are getting the most reasonable pricing possible. The processors and banks have to make enough money that should you run into an issue, they will look at profitability on the account.
We will manage the banking relationships outside of the accounts we work which including dealing direct with your agents to see if they have new banks, acting as your merchant advocate if issues arise, work on cap increases, add additional mids and improve upon current processes.
The biggest value here is working in a very systematic approach to grow your volume. We are giving processors the right information and your personal details and business model isn’t being passed around to sub-agents, etc.
We still work with a lot of merchants who do you use MerchACT and just need our help setting up new accounts and we have no problem doing that. We just find that things run very smoothly if merchants focus on growing their business and let us handle the merchant accounts.
One way to think about this that it will cost you A LOT more to hire an employee to take care of this, plus you get the benefit or our experience and relationships which will be impossible to find.
If anyone is interested in our services, please do not hesitate to contact me.
Feel free to address any additional needs you might want us to handle as part of the service. If you elect to not use MerchACT, we will still continue to add additional mids to help grow your business
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