My low cost merchant account boomeranged!
June 18th, 2008 | by admin |I own a retail outlet online and in the beginning it was torturous to navigate through a maze of merchant account rates. I, of course wanted the lowest rate possible and foolishly, I settled for the first offering of a Low Cost Merchant Account without any further research. And boy! Did it boomerang! Customer cards were being rejected left, right and center, in spite of the fact that most of them were perfectly valid cards. My so-called Low Cost Merchant Account turned out to be more expensive than if I had paid higher for a reputed provider. Sales were lost and worse, my enterprise earned a bad name and I lost a lot of existing as well as potential customers. However, I learnt my lesson and now my motto is- ‘quality is more important than quantity’ (in my case, money) and I have switched to another account and my business is slowly picking up.
