Merchant payment processing services, the capability for all types of businesses to accept a wide range of electronic payments, is an increasingly important service offering component for financial institutions (FI) of all sizes. A payment processing partner should offer secure, reliable merchant support, a comprehensive product offering and also deliver added business value to the FI. In addition, FIs should work with a partner that can deliver consistent level of service regardless of a merchant’s size and type. Merchant benefits could include one provider for all payment solutions, convenient services such as consolidation of statements and anytime, online account access. Other considerations include the cost structure and transparency of costs for the merchants, which can help eliminate funding questions and surprises.
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