Common Questions

Are you a processing company?

No! This is where our Consulting as a Service (CaaS) model comes into play. We consult based on what is in your best interest. We are processor agnostic. If you agree with what we are proposing, we set things in motion on your behalf.

Who do you work with?

We work with a variety of processors, banks, financial institutions, hardware and software companies. There is no such thing as one-size fits all so we keep our options open so we can identify the best programs for our clients.

How does consulting (CaaS) apply to me?

Great question! Frankly, we wish more people would ask this question. We are broker, if you will. We have a variety of vendors that have their own strengths and weaknesses. We capitalize on every business that we work with being unique in their own way and finding the best solutions for their needs. Thus, our consulting platform is only rewarded if you agree with our recommendation(s).

How do you make money?

Another great question! We do not charge the end user a consulting fee. Our fee is earned after we have analyzed your business, researched programs, proposed options and then see the process through to integration. No success for you, no success for us.

What criteria do you use to select processors?

This is an amazing question! We developed an internal rating system that qualifies vendors for our clients. If a hot new program comes out that may benefit some of our clients, we make the inquiry. If we already know the vendor(s) and their reputation, support, etc we take all of those factors into account before making a recommendation.

Are you employed by any processors?

NO! If we refer a client to a particular vendor, we only get paid via 1099. The business relationships with processors is subject to their business practices but we will be wholly independent.

I have a contract with another company. Can I get out of it?

,,We are very much against long-term contracts (except for very specific situations). We think you should be too. In many cases, we can get you out of your contract without any net loss to you. In other cases, a cancellation fee is often required. If a fee is required to cancel, it may be in your best interest, particularly if we save you a bunch of money. Our motto is if you’re happy, you won’t leave (no contract necessary).

Is switching processors a nightmare?

We do hear nightmarish stories from time to time but generally speaking, most of our customers are happy with the process. One of the main criteria that we look for in a processor is a high level of integration and customer support.

Cash discount programs are a scam, right?

Some may be but not the one’s we use. They are as legit as they come. I think the legalities and roll out of many cash discount programs was confusing which led to a lot of merchants calling it a scam or illegal. Like I said, ours are completely legit and to many merchants is the sole reason they stayed in business.

Are flat rates just a teaser rate?

It depends on the specifics of the program. We do not like to go with processors that use teaser rates but in rare cases if the deal is too good for a specific period of time and you are month to month, it may be worth considering.

How do you compare to Square?

Not gonna lie but Square can be a great option. But, because they captured so much early marketshare, they got greedy. Their flat rate pricing continues to go up. The worst thing about Square is they can literally shut you off for something deemed suspicious (subjective) and take their sweet time getting you back online. This effectively puts you out of business until they decide to let you back online. 

I'm a new merchant, can you help me?

Short answer. YES! Some processors are not taking new merchants but we have plenty that do. So, unless you are a terrorist watch list, we can most likely get you approved.

Can you help high risk merchants?

Absolutely! We have a couple of really good processors that specialize in high risk.

Will we have to switch out my equipment?

The best answer for this one is, maybe. Reason being that there are too many variables to give a firm answer. Security, compliance and compatibility will vary from processor to processor. In many cases where a switch is necessary, the cost savings, efficiencies, etc makes way too much sense to not consider it.

Why should we use your service?

The merchant processing business tends to be confusing at best and lacking integrity at worst. Any sales rep that says we have the best rates, the best programs, the best support and so on, is simply an impossible claim. Our service is designed to cut through the crap and point you in the right direction.

No one can beat my current rates! Why bother?

II like the confidence but are you sure about that? Interchange rates are tied to every merchant processing program on the planet. Only one way to find out, right? Forward your most recent processing statement to: secure@paymentsolutionz.com to get a free analysis.

Is your company an ISO?

The short answer is maybe. There are some nuances for what formally makes one an ISO. We are not a registered ISO (Independent Sales Organization) but technically, we are so nimble and not tied to a specific product or processor that it can be somewhat confusing. We are fiercely independent and can shop around for solutions that would be in our clients best interest. 

Do you require a signed agreement?

 It depends! If we know what you are looking for from the get go, an agreement with us is not necessary (third parties require formal applications/agreements). If we spend a lot of time researching various programs on your behalf, an agreement is necessary. There is no charge to the merchant for our services but it’s a fair and professional expectation to sign an agreement if necessary. 

Are you partial to certain vendors?

100% without question! Full transparency, right? We have certain vendors that are spectacular in a given niche (support, programs, etc) and we without hesitation will propose these vendors to our clients that fit those particular niches and needs. However, if a better solution is available, regardless of our current vendor relationships, we will pursue those options on your behalf.