Worker holding up a credit card reader for a customer

Merchant services enable safe and secure card transactions

Merchant services vendors handle the credit and debit card transactions between a merchant, their customer and the banks. The intermediaries who provide these services are sometimes called payment processors, merchant service providers or payment service providers.

Why are merchant services important?

Payment processors provide multiple services as part of their offering. Most businesses outsource their card processing to a merchant service provider for improved customer satisfaction and compliance with regulations.

Businesses not accepting card payments are missing out on revenue

As we continue to become a more cashless society, businesses who want to stay in the game need to accept credit and debit card payments. Businesses can lose out on sales when customers show up without cash, but the business doesn’t accept card payments.

The rub for businesses is that it costs money to accept those payment types, as there’s extra processing involved, versus accepting cash. Payment processors usually charge a fee based on a percentage of the card payment amount, plus a flat fee per transaction.

Card transactions require complicated security and compliance

When customers provide their card to a business, it’s an exercise in trust – trust that the card information is going to be kept safe and secure, and not misused.

Merchants accepting card payments must be PCI compliant. PCI or payment card industry, compliance is a set of 12 security standards for accepting, transmitting, processing and storing card data. Businesses fall into one of four levels, based on considerations like business size, number of card transactions, previous cyberattacks/data losses and more.

PCI compliance can be a really hairy area for businesses to take on themselves, and most look to a merchant service or payment service provider for assistance.

Many merchant service providers are available, including Compu-Gen Technologies

There are many payment processors providing merchant services. Some are integrated into a point of sale or POS system.

Compu-Gen Technologies is your local merchant service provider, processing card transactions with better rates and full PCI compliance.

  • Our low rates are usually better than what national processors provide.

  • We process transactions securely and in full compliance with PCI standards.

  • Your fees stay in and benefit our local community.

And, we offer an entire suite of solutions to create a holistic system for you including point of sale systems, video and other security systems, managed IT support and telecommunications.

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