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• Open Letter from Ted Hardison, CEO, Vantage Card Services

  • Vantage Card

  January 10, 2009

  As a merchant in these difficult economic times, you are looking for every way possible to cut costs and survive.  And there seems to be no shortage of merchant account providers soliciting your business, offering to lower your rates for accepting credit cards and promising the big savings you are looking for.  However, now more than ever, merchants must use caution when selecting financial firms to process their payments.

  Primarily a commission only sales force, many of the representatives walking through your door selling merchant accounts today will likely not be in the industry in a few months.  A good number of the organizations they represent may not be either.  With these challenging market conditions: lower payment card transaction volume, fewer new merchants … more

• A Leading Merchant Services Provider

  • Vantage Card

  January 10, 2009

  Just about every company today call themselves the “leading” provider of something (read almost any press release).  Many of the brochures and sales people you talk to promote their company’s size.  Formal rankings tend to use metrics like sales, profits, assets and market share.  But does this equal leadership? 

  Missing from this “leading” definition are things like marketplace ethics, management practices, commitment to fair and honest conduct and business integrity.  Take for example the big brand name bank on the corner who is selling credit card terminals on four year lease plans that overcharge merchants by thousands of dollars.  Or the rep who tells you there is no contract while hiding the terms and conditions fine print. … more

• Alternative Financing Solutions

  • Cash Advance

  January 10, 2009

  For 6 million small businesses operating in a struggling economy, these are anxious times.  We’ve witnessed the credit markets freeze, massive bailouts and the most far reaching reordering of our financial system since the Great Depression.  During these tough economic times, more and more businesses are being introduced to alternative financing solutions:

  Merchant Cash AdvanceWith tightening credit markets, merchant cash advance has moved from lender of last resort to lender of only resort for many.  But understand that these funds are very expensive.  Even at reputable companies promoting the lowest rates in the industry, the annual percentage rate of interest can calculate to over 40%.   So it’s important to ask yourself: Is the investment I& … more

by Ty Hardison

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