In the past, businesses looking for a point of sale (POS) system could choose from a wide range of processors to handle their transactions. However, as the market for POS systems has evolved, merchants are opting for companies that have representatives and resellers who can properly address concerns related to processing.
One of the main reasons for this shift is the need for transparency in the POS industry. Many point of sale companies let the processing companies sales handle everything related to credit card processing, while secretly cutting backroom deals with the provider or even employees of the provider to give them kickbacks. This lack of transparency can lead to customers being misled about settlement times, rates, and fees.
It is not uncommon for IT companies to pretend to be ignorant about processing in order to appeal to customers who are seeking transparency and accountability in their POS systems. However, this tactic can be misleading and can ultimately hurt the customers that these companies claim to be helping. In some cases, IT companies may even intentionally allow customers to be taken advantage of by “shady actors” in order to position themselves as the “good guys” who can step in and help out down the road. This kind of behavior is unethical and can ultimately harm the reputation of the company and the trust of its customers. It is important for businesses to do their due diligence and carefully research the companies they are considering working with to ensure that they are transparent and honest in their dealings.
Companies that have representatives and resellers who are responsible for the full customer experience can provide greater transparency and accountability. These representatives and resellers can address concerns related to processing and provide customers with accurate information about settlement times, rates, and fees. This allows merchants to make more informed decisions about their POS system and helps to ensure that they are not being misled.
The rise of companies that have representatives and resellers who can properly address concerns related to processing has had a significant impact on the POS industry. As merchants continue to seek transparency and accountability in their POS systems, it is likely that this trend will continue, making it increasingly important for companies to provide knowledgeable representatives and resellers who can assist with all aspects of the customer experience.
