Five Ways the Merchant Services Industry Is Changing

There have been recent changes in the merchant services industry, and most of this is focused on credit card processing. These changes will continue in the future in what has now become a rapidly changing industry. Many of these changes are due to changes in consumer behavior, while others are due to increased competition for merchant accounts among traditional banks as well as aggregate payment processing companies.

1. Changing laws

Lawmakers are beginning to see the changing landscape of competition in payment processing and are beginning to deregulate in ways that are helping the market become more competitive.

2. Shorter contracts

This is one way merchants have been stuck paying too much for their merchant accounts. Long-term contracts lock in high fees, and a business owner is stuck paying more than he would have to pay without the long-term contract. Banks are now less able to entice a business owner into a long-term contract when shorter contracts are available.

3. Lower fees

With more choices available to the business owner, the merchant services industry has become more competitive and this is leading to lower transaction fees. It is the transaction fee that has been one of the largest obstacles for a small or medium size company taking credit cards as payment. Many merchant accounts have simply been too expensive.

4. Mobile credit card processing

This is a new frontier for many business owners. Today, business owners have access to the Internet with a mobile device such as a tablet or a smartphones. There are now merchant account providers that have simple hardware that attaches to a smartphone, and integrated with an app, this allows the business owner to process a credit card wherever they are doing business.

5. The new digital wallets

Because of the rapid increase in consumers using smartphones, there has been a rapid growth in what is known as digital wallet payments. These are ways that allow a person to pay for a product right over their smartphone using an account that is not traditionally a credit card. The competition for the consumer buying products and services with a smartphone is driving down the cost of payment transactions for merchants everywhere.


The future is uncertain, but to be sure, the expense of processing credit and debit cards will drop for both small and medium sized merchants. Consumers will benefit as well. In this increasingly mobile world, they will have the opportunity to use digital payment methods in more places than ever before.



It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by

Call (866) 837-0751 for details.