Electronic Payments champions merchants with POS Bill of Rights

Electronic Payments Inc., a leading transaction processor and merchant acquirer, took a bold step to champion small business needs with its latest initiative, the POS Bill of Rights. Announced June 25, 2024, this set of principles was created to reshape merchant experiences by promoting transparency, trust and satisfaction.

Celebrating its 24th year in business, Electronic Payments prides itself on having consistently innovated to stay ahead in the dynamic payments industry. The POS Bill of Rights underscores the company's commitment to its foundational values of transparency and partnership.

"Our success over the last 25 years is rooted in supporting our clients with industry-leading technology and products that are relevant to their business," stated Michael Nardy, founder and CEO of Electronic Payments. "This initiative solidifies our commitment to our merchants, outlining the operational standards we've upheld and encouraging other providers to adopt these values."

Tenets to stand by

The Bill of Rights addresses several key merchant concerns set forth by Electronic Payments in the following tenets:

• Transparent pricing and honest billing: Merchants have the right to clear, understandable pricing with no hidden fees or charges to their customers. Billing is straightforward and predictable.

• Reliable uptime commitments: Merchants have the right to expect a high standard of system reliability and uptime with proactive communication in case of scheduled or unexpected downtime.

• Data privacy and security: Merchants have the right to have their business and customer data protected with high security standards and assurance that their data will not be sold or misused.

• Responsive customer support: Merchants have the right to access knowledgeable and timely technical support and customer service that helps them resolve issues efficiently and effectively. User-Friendly Interface: Merchants have the right to a system that is intuitive and easy to use, minimizing training time and reducing errors.

• Continuous improvement: Merchants have the right to expect the POS system to be regularly updated and improved, incorporating feedback from users to enhance functionality and performance.

• Fair contract terms: Merchants have the right to fair and reasonable contract terms, with no predatory practices. Terms and conditions will be easy to understand and protect both parties.

• Training and resources: Merchants have the right to receive adequate training and resources to fully utilize the POS system, including access to manuals, how-to guides, and online tutorials. Input and Feedback: Merchants have the right to provide feedback on the system and services, and to have that feedback considered in future developments and updates.

• Cancellation and data retrieval: Merchants have the right to cancel services under reasonable terms and to retrieve their data in a usable format if they choose to switch systems.

Steve Messemer, Electronic Payments' director of POS products, highlighted the importance of reliable systems like TableTurn, the company's restaurant management platform. "The POS Bill of Rights is our assurance to providing a reliable and supportive environment for businesses using EPI. This initiative will set a new standard in the industry and help our merchants thrive," Messemer said.

A storied career

Michael Nardy's journey as an entrepreneur began in his college dorm room at Boston College, where he launched Electronic Payments to provide cost-effective credit card processing solutions. From these humble beginnings, Nardy's vision and dedication grew Electronic Payments into a respected name in the merchant services industry. The company now boasts a network of over 1,000 agents and 150+ staff members, serving thousands of merchants across the country.

In addition, Nardy has been recognized as an Industry Leader by The Green Sheet and was named one of America's Coolest Young Entrepreneurs under 30 by Inc. magazine. His entrepreneurial spirit was further honored when he was named a finalist for the EY Entrepreneur of the Year 2017 Award in the New York program, and as a Forty Under 40 honoree by the Electronic Transactions Association, also in 2017.

The company's core mission is to help small to midsize businesses prosper through innovative and affordable payment processing services. This mission, the company noted, is reflected in its longstanding commitment to providing in-house, 24/7 technical support and developing proprietary, omnichannel solutions that integrate retail and restaurant processes.

"Our company was born out of a need to serve an underserved market, and our mission remains as strong as it was when we began," Nardy reflected in a recent interview. "The POS Bill of Rights is more than just a set of principles; it's a commitment to our partners and a reflection of our ethos."

As Electronic Payments continues to innovate and support new payment and POS solutions, it remains committed to transparency, emphasizing that its success is not just measured by technological advancements but also by the depth of its partnerships with merchants, agents, ISOs and financial institutions. These relationships have been pivotal in building a stable and growing business that genuinely benefits its clients, the company added.

In giving back to the community, Electronic Payments also supports various charitable causes through its Charity POS initiative, further demonstrating its commitment to the broader society beyond business transactions.

As the payments industry evolves, Electronic Payments feels it is poised not only to adapt but also to lead the way with initiatives like the POS Bill of Rights, ensuring that small businesses receive the respect and support they deserve.

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