Flagship Merchant Services is an MSP/ISO of iPayment. It is one of the largest and most established direct processors in the country. Flagship Merchant Services provides credit card merchant services to small and large businesses, as well as individual clients. They offer services to Subway, Avon, and Verizon, among others. Their credit card processors boast an improved customer service and support as well as multiple pricing options.
Source: 4-credit-report.com
Credit card processors often offer both interchange-plus and tiered rates. Similarly, Flagship Merchant Services has multiple pricing options that are very helpful to both new and old businesses. Its tiered rates, such as 0.38% for qualified debit cards and 1.58% for credit cards, are very reasonable and beneficial to small businesses. Flagship’s interchange-plus rate has a percentage of 0.30% which is fairly average when compared to other processors that have been reviewed. You should note that these are basic rates while Flagship can also offer customized quotes. This depends on your business’s monthly output.
Flagship has a monthly fee of $7.95. The best thing is that it does not require $25 minimum and annual PCI compliance fee of $99. Some of Flagship Merchant Services’ benefits are available online for every person to access. Furthermore, the information provided either, online, by phone, or email is generally consistent.
Flagship offers distinguished and excellent setup speed and service terms. Unlike other providers who offer the same services, there is flexibility. They will not require for you to sign a long-term contract. You can opt for a month to month plan. This makes it possible for you to change and adjust to new services as soon as they arise. The best thing about Flagship’s plan is that there is no cancellation fee if you plan to leave them. If you plan on receiving free equipment, you are required to sign a one-year contract. As soon as one year is over, your normal month-to-month service resumes.
Pros
– Flagship Merchant Services do not require you to sign a long-term contract. You can choose a month-to-month contract.
– Convenient to buyers. When you choose a credit card processor, you would normally be able to provide convenience to your buyers, as they would only have to click order buttons from a secure interface on a website. In this technologically changing world, without that kind of speed or ease, it is very likely that they are going to find the convenience they are looking for elsewhere, which could really hurt your business. Thankfully, because of Flagship’s user-friendly setup, in most cases, applying for a merchant services account can be completed electronically and very quickly.
– Convenient to sellers. It is also convenient from the seller’s point of view. Credit card processors already have a proven system of collecting payments via Merchant Service Credit Cards. Thanks to this, you can be assured that all purchases will be charged and debited accordingly into the system. It is also important to mention that sellers can rest assured that they can have a credit card verification system with a processing service in place.
Source: bizbrain.org
Research shows that the majority of buyers (at least eighty-five percent of the consuming public) use credit cards in their major purchases for many reasons, usually because of the convenience it provides them. If you have a credit card processing system that would allow for credit card payments, then you can expect to have more customers and, eventually, boost your sales.
As the importance of credit card merchant services has increased, many companies have come into the market, making cash-flow for small and medium sized business easy. They offer to provide cost-effective and secure payment options. The low processing fee and acceptability for all credit cards are among the things merchants should always keep in mind before choosing an organization. In any case, be sure that the credit card merchant services you choose are the right ones for you. Transferring the payment to your account as early as possible is also one of the services provided by them.
They offer to provide programs in which the payment is available in the account on the next business day. If you are a merchant, you must have realized long ago that only accepting cash can cost you numerous opportunities. Previously, it was very rare for smaller merchants to have this ability. However, nowadays even smaller business houses are installing credit card machines, meaning that your customers may go to your competitors if they find it more convenient to deal with them.
Some people believe that it takes a lot of resources to install credit card processors. This is only partially true. While it may be somewhat expensive to have these installed by the larger banks, there are more economical options available these days. These organizations charge far less than the bigger banks. It is often not especially profitable to have the credit card processors of the banks installed if your scale of operations is not large. However, this is not a big problem with the other service providers because their fees are structured in such a way that it is profitable to use them even when the number of transactions is not too high.
To make things easier for smaller businesses, some service providers are willing to provide the credit card processors for free. If you can find the right service provider, they may even provide wireless processors that are easy to install.
Another advantage of using these service providers is that they are willing to quickly process customer applications. Larger organizations are usually willing to provide credit card merchant services to clients who fulfill a large number of conditions. For many merchants, it is not possible to fulfill all these conditions. These merchants are less likely to find themselves disappointed if they contact the smaller firms that provide this service.
Source: bestcompany.com
Cons
-Flagship Merchant Services does not list their costs and fees on their company website.
-PCI non-action fee: The cost is an additional $19.95 per month for non-action.
In conclusion, it is essential for a business to grab every sales opportunity that comes to them. With the current technological advancements, people are naturally more inclined to use credit or debit cards. As such, people have fewer tendencies to carry large amounts of cash with them. Credit card merchant services thus relieve the customer and seller from carrying around a significant amount of physical money, you can make a transaction at any time.
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