Could your business take advantage of a ‘Merchant Services’ facility?
‘Merchant services’ is the card industry term for the facility that allows businesses to accept credit and debit cards, either in person (Chip & PIN), over the phone (also known as cardholder not present – CNP), or via the internet (e-commerce).
Traditionally, the provision of ‘merchant services’ in the UK, was the sole domain of the major banks for their account holders.
Things have changed dramatically in the last few years and these days thousands of businesses, big and small, are applying for their card acceptance facilities through third parties known as ‘Independent Sales Organisations’ (ISO’s).
Card Expenditure Statistics (CES) – September 2012
At a glance key figures for September 2012
| Total Spending
| Annual Growth
Rates for Spending
|Number of Purchases|
|All Plastic Cards||40.8||40.4||4.1%||3.6%||831||804|
ISO’s typically enable businesses, both large and small, to accept debit and credit cards, via their merchant services account facility, on better terms than they could obtain from a bank directly.
There are no costly Joining Fees (banks typically charge their business account holders £150 – £250) and the ISO completes the application paperwork on behalf of the business.
The ISO’s also provide cost effective Chip & PIN terminals to enable businesses to process their transactions.
There are now a number of ISO’s in the UK. Whilst some have been around for a while others are relative new kids on the block, with little or no behind the scenes support, so it’s important to choose the right partner.
Here, at Chip & PIN, we are proud to have been at the forefront of credit and debit card acceptance developments in the UK
Since 2004 Thousands on business have switched their accounts to our service. By choosing Chip & PIN for your merchant services you can be assured of a personal consultation in order to ensure that you get the right card acceptance product at the right price.
Whilst the price of card transactions, and card acceptance terminals, is a key part of any decision there are many important features to consider:
The Technology on Offer
By selecting Chip & PIN you have access to the very latest card acceptance technology whether you want a counter top terminal, a portable terminal, a state of the art mobile (GPRS) device or a partner for your e-commerce requirements.
The ISO’s ‘Acquirer’ Partner
All ISO’s have to process their card transactions through a card ‘acquirer’. Here at Chip & PIN we are partnered with First Data. Over the past 18 years, First Data has built up a strong presence in the United Kingdom and Ireland, serving many major names in the banking and retail sectors. Every day First Data securely processes transactions for millions of merchant locations and thousands of card issuers around the world.
The Head Office Support
Chip & PIN has permanent staff based in its Bishop Stortford Head Office. They provide best in class support for any technical issues which may arise.