• Aprile Parella

If You Are Using Your Bank for Merchant Services, You're Probably Getting Gipped.

We know how it is. We can reflect back to this day ourselves; the pride and accomplishment you felt the day you opened your business.

You were extra diligent too, making sure every “I” and “t” was crossed. Every detail you obsessed over. You relied on your network of friends and businesses like your local bank to help launch your business.

The bank is designed to make life easier for you. They set up business bank accounts, help you secure funding for your venture – and sell you into their merchant services – yes merchant, sign here nice and that quick your business can now accept electronic payments. Thank you Mr./Miss Banker –

There is an old saying in life, “Let the Buyer Beware”. Just because the bank provided your business with merchant services does not mean you are getting the best deal or pricing for your business. Your bank is motivated by profits and most likely is overcharging for processing by way of hidden fees in their pricing strategy. I’ll show you how in a bit, but first want to touch on something we tell all our new clients.

The three critical pieces every business owner MUST secure before that grand opening. It is these 3 things that can mean success or failure for any business.

  • Savvy Accountant - Check

  • Reliable Bookkeeper - Check

  • Merchant Services Provider. Funny, when we meet and talk with business owners all over the state, analyzing and comparing merchant service providers never crossed their mind – ever. Most in fact do not know how to read their monthly statement.

Choosing wisely your merchant service provider represents one of the best ways to increase company gross profits

Now, if you had to do a do-over, would you run down to your bank and sign for merchant services?

One thing that you must understand is that not all merchant services providers are the same. There are some that might give you more cost than profit. How?

Hidden fees.

Some Merchant services provider, including your bank, can take that 25% additional profit through their hidden charges. And because GMP believes that an educated consumer is the best consumer, we would like to help you understand this.

Here are 3 of the most common hidden fees that you might not be aware of, in your current merchant service provider.

Hidden Transaction Fees.

There is an expected 15-20 cent charge for every debit or credit card swipe. This is regardless of whether the transaction went through or not. If you manually key in the numbers, the charge could be within 25-30 cents. However, some merchant services provider will not tell you that you may also be paying more when a customer enters a debit pin.

Payment Gateway Fees. For merchant doing online transactions, expect to be billed an extra $15-$30 by your gateway or merchant service provider.

Monthly Minimum Fees.

There are merchant services provider who will charge you, to cover the difference, whenever you did not reach the minimum amount required in the plan that you selected.

The key is finding the right merchant services provider for you.

Global Merchant Partners is vastly different merchant services company – we are a clearinghouse of multiple processors.

We are best at what we do for one simple fact; we make the credit card companies work for you. Most merchant services providers believe that there is a one-size-fits-all formula in pricing, but we beg to disagree.

At GMP, we go to great lengths to deliver the best pricing on credit card processing. We represent your business as if it is our own. We support you by offering you the best plan from the top 10 processors.

We put you and your business in control.

At Global Merchant Partners, we promise to:

  • Increase your company gross profits.

  • Pair a credit card processor offering the most advantageous pricing model, service, and technology for your business.

  • Protect your business from credit card fraud.

Free Offer: Contact Global Merchant Partners today and get a free cost-comparison analysis within 24 hours. Just send us your current credit card processing statement.

We promise to increase your company’s gross profit!

Aprile Parella

Managing Partner

Global Merchant Partners

(302) 268-6222


#merchantservices #electronicpayments #increasinggrossprofit