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Education

Make merchants substantial legal fees and sleepless nights. This could have
been avoided had the processor better explained his con-
love you – and avoid tract terms from the outset.
Processors who rush through a contract closing, avoid
litigation phone calls or don't answer emails from a concerned mer-
chant shouldn't be surprised if their client starts crying
"Thief!" when payments don't show up overnight. Many
By Jake Greenberg lawsuits could be avoided through clear and constant
Ehrenstein Charbonneau Calderin communication with merchants. Following are tips for
creating successful, long-lasting processor-merchant rela-
ith more small businesses owners embrac- tionships.
ing digital commerce, old-fashioned cus- • Be available: Business relationships don't exist in
tomer service is still the glue that binds a vacuum. Answer merchants' emails. Take their
W credit card processors to their merchant phone calls. Support them and work through prob-
clients. Unlike large companies that hold agreements for lems that arise. Check in regularly with merchants
credit card processing directly with the card companies, even if you don't have a specific reason to call. Make
owners of restaurants, boutiques and professional services them feel appreciated.
offices contract with third-party processors to accept card • Anticipate needs: Sit with your clients to explain
payments. the contract. Let them know the procedures and
timing involved before their payments arrive. Reas-
Change can be difficult for small business owners as they sure them about hold-back periods and how they
move from cash-only sales and see how cash flow delays are handled. Look for ways to help them.
from credit card payments affect their bottom line. One
processor recently found his corporate bank accounts • Be transparent: Help merchants understand your
frozen by the local sheriff after a misinformed merchant system. Remove the mystery of the myriad rates and
accused the processor of stealing funds. This wasn't true. fees. Explain why they exist and dispel myths about
Ultimately, the sheriff returned the money and dropped padding prices. Carefully explain costs and how to
the investigation, but only after the processor incurred read a statement. Give more than is expected. Show