If your business or nonprofit collects a lot of card payments or digital transactions, you may benefit from a merchant services tool to conduct your business safely and securely. In this article, we explain the basics of merchant services, as well as the steps required to add merchant services to your Amplify account.
Key Takeaways:
- Merchant services help businesses and nonprofits complete credit, debit, and digital wallet transactions.
- Merchant services are a partner program at Amplify and will come with some additional fees.
- You can add merchant services to your Amplify account in three simple steps.
- To learn more about the benefits of merchant services, use our scheduler tool to book a virtual appointment with a commercial banker.
What are merchant services?
Merchant services refer to a range of services provided by Amplify Credit Union to businesses to facilitate electronic card processing. It allows you to accept credit card payments, debit card payments, and digital wallet payments, as well as related activities such as transaction authorization, settlement, and reporting.
Here are a few more details about merchant services:
- Merchant services is a product partner with Amplify Credit Union. Fees will apply for this service.
- If you already have a merchant services provider, we will ask for two months of your statements to help us prepare a full price comparison.
- There are no contracts.
- Devices can be purchased or leased.
To learn more about merchant services at Amplify, use our scheduler tool to book a virtual appointment with a commercial banker.
What are the benefits of merchant services?
Below are just a few of the benefits available to businesses and nonprofits with our merchant services platform.
- Expand payment options. By accepting various forms of payments, you can cater to a wider range of customer preferences.
- Increased sales. Studies have shown that businesses that accept card and mobile wallet payments tend to experience higher sales volumes, as much as a 30% increase, compared to those that only accept checks or cash.
- Improved cash flow. If you batch out daily, the funds can be available the next business day, leading to quicker access to funds.
- Enhanced customer service. Offering convenient and secure payment options can enhance the overall customer experience.
- Streamline operations. The service has multiple options such as reporting, analytic tools, inventory management, marketing information gathering, and customizable payment solutions tailored to your business needs.
To learn more about the benefits of merchant services, use our scheduler tool to book a virtual appointment with a commercial banker.
How do I choose a merchant services solution?
Because merchant services solutions are tied to the nature of each business, we recommend speaking with a commercial banker before reviewing your options. Use our scheduler tool to book a virtual appointment at your earliest convenience.
How do I activate merchant services?
You can add merchant services to your organization account in three simple steps.
- Agreement. An Amplify employee will connect you with our merchant representative to answer any questions and provide you with a proposal. The request will go through an approval process.
- Devices shipped. The device(s) selected will be shipped to your address.
- Activation. An appointment will be made for the installation of your device(s), if applicable. After installation, your account will be activated. Training is available on request.
To learn more about merchant services activation, use our scheduler tool to book a virtual appointment with a commercial banker.
Are merchant services a good fit for your business?
If you are a business or nonprofit with a checking account at Amplify and would like to accept card payments for goods or services, we recommend merchant services for your organization. To discuss your organization's specific use case for merchant services, use our scheduler tool to book a virtual appointment with a commercial banker.