23 Mar, 2011 → by ClaimboUser766279
Merchant Service Providers
I only know of four. Entrust Bank, Trans National, First Data, and Innovative. Do not purchase merchant service from your bank. Go direct to the guys they use - as listed above. Do not purchase merchant service from a company that has an 'exclusive operating platform', or uses a 'proprietary terminal'. If ever you want to change services, the terminal you 'own' won't work with any other provider. Innovative uses proprietary terminals based on an exclusive operating platform. Using them makes switching more complicated. I haven't had any experience with anyone but First Data. Their rates are pretty competitive, you just have to watch your statements. It is a good idea to compare merchant services once a year in mid-April - that is when banking rates typically change. I'm thinking about changing from Chase Paymentech (First Data sourced) to Trans National. Trans National will give you a free terminal or allow you to use the one you currently own. They also have a Gateway which makes transactions all the more flexible.