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Do not sign a contract with the wrong merchant processor!

Merchant services usually refers to processing services that enable a business to accept a transaction payment through an encrypted channel using the customer’s credit card, debit card or NCF/RFID-enabled device. These services can also include gift card and loyalty programs, online transaction processing, and point of sale systems.

Merchant processing as an industry is like the Wild Wild West. Given there are nearly 318,000 merchant services providers in the US and there is no real oversight for the industry, for decades many of them have gotten away with surreptitiously inflating fees without informing the merchants they service. In fact, you can search online for merchant processors to avoid! One online article pointed out, “The credit card processing industry is full of scam companies that seemingly pop up out of nowhere. These processors are willing to say or do anything to make a quick buck at the expense of small business owners.”

In addition to the fee the business is charged for processing a transaction, there is a myriad of fees the business must also pay, including account fees, statement fees, PCI-compliance fees, chargeback fees and NSF fees. The entire industry can be confusing and even overwhelming.

One of our Mikal salon owners nearly lost her business to an unprincipled merchant processor a few years back. Her battle with them lasted nearly three months and because she was tenacious, she finally extricated herself from the contract. She told her husband, “From now on, if a merchant processor is not vetted by the Mikal team, I’m not even talking to them.”

She selected Charge It Pro (now known as Gravity Payments) and stayed with them without even a hiccup until she sold her business.

Mikal has thoroughly vetted two merchant processors for our salon and spa customers. They are trusted, honest and secure. When you are a Mikal salon or spa, selecting a merchant service provider is easy and stress free. We recommend Gravity Payments and X-Charge to all of our customers.


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