The Web makes it possible for consumers to research various options quickly, so business owners with Internet merchant accounts need to offer something unique – and simplicity is a good place to start. Staying competitive with rates and offerings when similar options are available with other Internet merchant accounts, makes it even more important to be clear on exactly how you can help a consumer.
Get Legal Advice on Contracts
A payments lawyer is a good place to start. They listen to business owners talk about their services and products and how they want to present them to consumers, and then create a way to market them effectively. Next, the lawyer takes the initial framework and builds a contractual and legal shell around it. This ensures the content included is merchant-friendly, helps to achieve business goals, and is legally sound.
Contracts can be gained or lost based on consumer perception of value, as well as the overall structure of the contract. If something sounds complicated about the phrasing, it may cause someone to keep on shopping. In addition, the more friendly contracts appear, the more likely that businesses will attract serious prospects that make decisions quickly. This upfront work also helps avoid legal wrangling.
What Every Online Credit Card Processing Contract Should Include
• Each contract should include plain, clear wording
• Structure the contract in a way that helps sales people sign new customers easily, meaning the wording is logical and flows similar to the sales pitch
• Make the contract as short as possible, and in a readable size font (10 point or larger)
• Include full, clear, accurate disclosure about fees, rules and requirements
• Be clear on the rules associated with the brand of credit cards tied to the merchant account
Using this approach will not only help with sales, but provides a good edge in a market often competing on price. It’s important to stand out, and a solid, clear contract for Internet merchant accounts communicates that you are trustworthy, high quality and want to do business fairly.