Improving Your Merchant Services Program

Payment acceptance for business members, commonly referred to as “Merchant Services” is one of those outsourced services that is sometimes underutilized by credit unions. However, in many ways it is analogous to credit and debit card issuance relative to its importance and high visibility with the business member. Most credit unions outsource their merchant services offering with good reason – it is a specialized financial service that is technology and product-intensive, carries potentially high risk and has complicated price structures and low margins. The acceptance of payment cards is an important tool and the lifeblood of cash flow for many businesses….READ MORE