The Payments Processing Industry, is a highly regulated and extremely well organized and designed system, comprised of multiple players and component parts. Understanding how it works is a convoluted and confusing study. However, in the most simple terms, it is all about ....'Getting Paid ', and how you handle the incoming electronic purchases and payements coming into your business operation.
Getting Paid__This is Your Primary concern. You have a business to run, and that is your focus. A major tenet in the business world, is that: YOU, as the merchant or business owner, should always strive to: 'Make it EASY for your customers to pay you, their money '. This is simple common sense... Because if you fail at this ... they'll go to your competitor. Ultimately, be aware that the customer can control your level of success, ...by exercising his choice of : Where / How, and 'If' ... he will buy from, and spend his money... with you ....or your competitor.
The INDUSTRY PLAYERS.....'CAVEAT EMPTOR'
The FED and the Banks__are behind all payments, and are involved and included in all FORMS of payment. They are the drivers and settlers of all monetary transactions. In business, you have your local business bank...where you keep and run your normal business operational accounts.
The Payment Program Providers & Associations__these are the people who design, develop and operate the differing programs and electronic payment options that are available to you, These people are contracted with the Acquiring Bank, to provide you the 'optional access' to their specific programs.
The Transaction Processing Networks__these are the "techie" people behind the computerized systems utilized in the micro-second 'capture' , transfer and settlement of funds between the banks These people are contracted with both the differing Program Providers and the banks. You might recognize names like First Data, TSYS, Elavon, EVO, Paymentech, Global....these people are in this category.
The ISO/MSP__these are the people ( like FCD ) who function as the contract sales and marketing arm for the Acquiring / Provider banks. Their focus is to develop, build-out and grow both the bank's, and their own, portfolios of active Merchant Accounts. Generally, they will structure their business as either a "Captive" or an "Independent" Agency.
These people are typically your Point of Entry or Gateway into the Payments Industry.
You should be aware that the average, entry level rep in this industry, will last less than six (6) months, typically having been hired to 'slam dunk' unsuspecting merchants by any 'dog and pony show' imaginable, in order to get the merchant's name on the dotted line. Many of these people receive minimal industry training, and are not willing, nor equipped, to meet the study and educational requirements to become a seasoned professional. In fact, if you have read and even rudimentarily understand this section of our web site, you are well ahead of most of the Reps that will approach you with offers to entice you for your payments business.
FCD is a business relationship focused 'YOU Centric' provider of soluitions in the Payments Processing and Business Capital Industries.
As a long term solutions Provider, we bring a unique perspective to our clients via our transparency and continued involvement, as your on-going and primary 'GO TO' contacts at every level of the system, on a 24/7/365 basis.
We are all about a WIN-WIN agenda from the outset, and we seek out clients who share this same outlook.
We invite you to review our site and contact us with any questions and concerns regarding these industries, or to discuss and help you develop any programs or ideas you are entertaining or may have in mind going forward.