Should I Leave My FinTech Merchant Provider?

By Published On: April 13, 2023Categories: Uncategorized

In the world of merchant services, businesses have the option to work with either big fintech companies or local merchant service providers (MSPs). While big fintech companies may offer convenience and name recognition, there are compelling reasons why working with a local MSP could be a better choice for most businesses. Here are some of those reasons:

  1. Personalized Service: One of the biggest advantages of working with a local MSP is the personalized service they can provide. Unlike big fintech companies that are often focused on scaling and automation, local MSPs can offer tailored services that meet the specific needs of your business. They can provide individualized support and work with you to develop customized solutions that meet your unique needs.
  2. Greater Flexibility: Local MSPs are often more flexible than big fintech companies when it comes to pricing, contracts, and other terms. They can work with you to create a pricing structure that makes sense for your business and offer more flexible contract terms than big fintech companies that have standardized offerings.
  3. Better Communication: Local MSPs are more accessible than big fintech companies, which can be a huge advantage when it comes to communication. Because they are based in your local community, local MSPs are more accessible and can respond quickly to your questions and concerns.
  4. Local Expertise: Local MSPs have a deep understanding of the local business landscape and can offer valuable insights into industry trends and local regulations. They can help you navigate the complexities of the local market and provide guidance on issues that big fintech companies may not be aware of.
  5. Support for the Local Economy: Working with a local MSP supports the local economy and helps to keep money circulating within the community. By choosing to work with a local business, you can help to support jobs and economic growth in your community.

In conclusion, while big fintech companies may offer convenience and name recognition, working with a local MSP is often a better choice for businesses. With personalized service, greater flexibility, better communication, local expertise, and support for the local economy, local MSPs can offer businesses the support they need to thrive in the competitive world of merchant services. So, if you are looking for a reliable and customized merchant services solution, consider switching to a local MSP to experience the benefits for yourself.