Menexis specializes in small business credit card processing merchant accounts. We offer low rates and fees for restaurants, retail stores, convenience stores, any other businesses involved with the retail sector. Financial Institutions started processing credit cards in 1913 for the first time in America but no one would have figured that close to 3 trillion would be charge in 2008 and the figures are still growing at a staggering pace as the world become more populated and liquidity become more available.
Nowadays a company cannot think about operating a small business without accepting some form of electronic payments. If you do so, you will only hinder your business growth. If you are a new startup and are looking around to establish a merchant account with a merchant services provider, some of the language can be a bit confusing if you are just venturing out for the first time. We have simplified our entire process and can offer advice during this entire process so all is cleared. We even provide a guideline for companies on what the best practices are, what to expect and how to avoid potential pit falls with higher processing rates.
Offering consumers more payment methods other than checks or cash can greatly impact sales in a positive direction for companies and help to expand your consumer base because most consumers prefer not to carry around cash, especially large amounts.
Merchants have three options when it comes to how you want to be setup: the first is your bank. You can head over to the local bank branch and tell them you want to establish a merchant account with them. The good thing with this is that you should have already had some sort of business history with your bank. The bad thing is their credit requirements are stricter and their rates are typically higher than what we provide. Most banks actually outsource all of their processing to third party processor. The second route is to get setup via a Third Party Processor. Third Party solutions are not for everyone, especially retail stores. This is ideal for internet merchant. For instance, third party processor is Paypal, Google checkout and the like. Their rates are always higher no matter what because they are assuming the risk. The last method is to go through an Independent Sales Organization (ISO) such as Menexis. We work with sponsoring banks and provide lower rates than both third party solution and doing directly to your bank. We are not regulated like banks are. We provide a more efficient way for companies to process via the Visa/MasterCard Network as well as Discover and American Express. There are other Financial Service Providers that we utilize to scale our operation and offer a secure platform for retailers.
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