27 Feb Consolidation Is Creating Concern in the Merchant Services Industry
Are you worried about the amount of consolidation happening in the world of Merchant Services? If so, you are definitely not alone.
Banking industry executives and professionals are expressing genuine concern over the impact this rampant consolidation will have on their customers. It seems like every week, another processor that used to focus on service and support for banks is being swallowed up by one of the giants in the industry.
In the last 2 years, over 75 different processors were acquired. Here is a short list of the more notable ones:
– Security Card Services
– Heartland Payment Systems
– Mercury Payment Systems
– Card Connect
– Total Merchant Services
– North American Merchant Services
– Merchant’s Choice Payment Solutions
– Payment Alliance International
– Sterling Payment Technologies
– Northern Merchant Services
The result of these acquisitions is a growing disparity in the Merchant Services industry.
In 2012, mid-sized processors capable of providing personal service for merchants and their customers made up 23% of the U.S. market. Now, just 6 years later, less than 10% of domestic processors occupy that middle tier.
Customers choose banks for the unique customer experience they provide. So, if a bank has been working with a processor who shared that philosophy of incredible service, and they were purchased by a giant processor who’s turning loyal customers into just another number, the results will be jarring.
BASYS Processing can be the solution to that problem.
BASYS is short for Bank Systems, and we were born from banking. Our systems, philosophies and culture are structured around working with banks. Our service philosophy mirrors the experience exceptional banks give their customers. We do everything in our power to increase your bank’s revenue while protecting your greatest asset–your reputation.
Like a lot of banks who have been passed down from generation to generation, BASYS is family owned and is not for sale. Our vision of being a multi-generational company is mapped out, and BASYS is staying the course.
BASYS as a business partner for banks
If your bank’s current merchant services provider isn’t meeting your goals in terms of service, reputation, retention, or revenue, please call BASYS Processing at (800) 386-0711. Let’s talk about creating a true business partnership that will help you meet and exceed your goals for your merchant services program.
BASYS Processing features:
* 90% + Customer Retention Rate
* Live operator when your merchant customers need support – no automated voice systems
* Dedicated relationship manager for questions and concerns
* Proactive contact with every merchant to walk through the annual PCI process
* In-house PCI Team to assist with questions and concerns
* Founded by a family who previously owned a bank
* Track record of successful bank partnerships
* Thorough Market Analysis followed by mutual plans and goals to grow your portfolio
* High quality service mentality, similar to your bank
* Vested interest in protecting your bank’s hard earned reputation
* In-depth initial bank training
* On-going bank training via weekly call and boot-camp programs
* Open line of communication between BASYS, you, and your customers
* Quick response time for your questions and concerns; you are a priority
About BASYS Processing
BASYS Processing is merchant services born from banking. Founded by a family that once owned a bank, BASYS is a true business partner for credit card and debit card processing. BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale; customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: