Why You Should Never Meet With Another Payment Processor

Why You Should Never Meet With Another Payment Processor

Today, I sat with a business owner as we met with a credit card processing company that sold them $600 worth of equipment on a 48-month lease for $400 per month.

The business owner had been having problems with the credit card swipes on their Revel POS system and they took a call from a local company claiming to be the best credit card processor in the world. Unfortunately, when the business owner met with the credit card services agent, the agent made everything sound amazing and got him to sign to get new equipment.

A week later when the equipment arrives, the merchant realizes that the FD-130 credit card terminals don’t integrate with his Revel POS system and that he unknowingly signed a lease for equipment that doesn’t work with his system.

As I sat there across the table from the company that trains agents how to scam merchants, I realized why business owners like you should never meet with another credit card processing company.


The first reason is the industry is far too complex for a business owner to understand how to make a quality decision on which provider is going to be best for their business. This is why merchants switch processors year after year and never quite find what they are looking for. In addition to it being difficult to understand, payment processing agents, even the least educated ones, can be very persuasive and promise significant savings without caring if the merchant sees the results they promised. By the time the merchant gets their merchant statement, they realize the savings never materialized.

You would think that this problem would be solved with POS systems like Revel, Toast, and Clover offering their own payment processing solution, but it hasn’t.


The second reason you should never meet with another payment processor is because there are no consumer protection laws that protect you from being scammed by a credit card processor. This means if you sign the wrong agreement, the laws in your state, or the Attorney General will likely do nothing about it.

When I worked in the insurance industry, I had to pass a background check that included a financial review and credit report. The merchant services industry is not scrutinized or regulated in the same way which is why there are so many dishonest business practices prevalent in the industry.


With an industry being complex, and unregulated you don’t want to give your most important financial information to the wrong company. This can wreak havoc on your business and can cost you a significant amount of money and frustration. As a small business owner, or business of any size, it’s never in your best interest to lease a $200 credit card terminal for 48 months regardless of how sweet the rates sounds. That’s a routine bait and switch deal that has been going on in the merchant services industry for years. You don’t have time for that!


After meeting with hundreds of merchants and listening to what frustrates them about merchant services, we have created a service that allows them to never meet with another payment processor and it’s called Concierge.

For a monthly fee, we manage and monitor the merchant services for business owners so they don’t have to deal with evaluating bids and reading through their merchant statements every month.

If you’re tired of having to evaluate your payment processing, being in the dark about your rates, or not knowing who to call when you have question, give us a call or start a conversation with us.

Myth #1: Going Direct Is Best For Your Business

Myth #1: Going Direct Is Best For Your Business

As a business owner needing a quality solution to accept credit cards, you are constantly pursued by credit card processing agents telling you to “Go Direct” so you can eliminate all your payment processing headaches. This “pitch” is used by thousands of credit card processing agents across the country even if they don’t work for one of the few actual direct payment processors.

As a consulting firm that works in partnership with direct processors and independent sales organizations, we understand why this pitch is bogus!

Credit card processing is nothing like buying furniture or refrigerators. The credit card processing rates are set by the card issuing banks and the card brands (i.e. Visa, MasterCard, etc.) and are non-negotiable. In fact, these rates equate to as much as 90% of your overall bill in most cases as I mention in my recent article “Where Credit Card Processing Fees Go”.

I’ve come across merchants processing with direct processors that were getting great rates and service, and merchants that were being overcharged and mistreated by their direct processing relationship, so going direct is not the silver bullet.

The reality is, the experience you will have with your merchant service provider along with what you pay is dependent upon how they configure your fee structure, the technology they provide, and their approach to customer service. These vary from company to company and it’s up to you to have an interview process to determine which provider is the best fit for your business.

How We Help

Northwest Advisory Group is a payment consulting firm that helps businesses eliminate the stress related to managing payment processing. We accomplish that by understanding the needs of our clients and recommending payment solutions that help them reduce costs, save time, and increase revenue.

If you’re interested in learning more about how we can help you save time and money, let’s start a conversation.

22 Ways To Cook Up Sales For Your New Bar or Restaurant

22 Ways To Cook Up Sales For Your New Bar or Restaurant

You’ve got your business plan, kitchen equipment, food, spices, and if you’re a bar, hundreds of tequila or ciders options ready to flow. The one thing you don’t have yet though is customers! Here are 22 ways to get the word out about your restaurant or bar so you can climb the ranks as the best new establishment in your town.


1. Get A Website, And Have A Professional Market It For You

We’ve seen some pretty nice “Do-It-Yourself” websites over the past several years and this is one area bars and restaurants need to enhance in this competitive market. Having a clean looking website is really important as it with be your “first impression” they will see when searching for new establishments in your area. What is even more important is the ability to find you on the internet. So congratulations on getting the pretty website, now you need to hire a pro to help you attract people to it. A professional can analyze the data on your website to make sure your website comes up when people start searching for businesses that provide the services you provide. So unless you’re an expert at SEO, SEM, Adwords, or any other marketing acronym, look for a reputable professional in your local market who can help you get your website up and running the right way!

2. Join Your Local Chamber Of Commerce

One of the best ways to get exposure for your business is to join your local chamber of commerce. As a restaurant or bar owner, I understand you don’t have a lot of time to socialize, but if you can find a way to make it to a couple meetings per month, not only will you meet great people, but you will also be able to source vendors that have been vetted by the local chamber. Attending meetings will also give you the opportunity to tell your story in a way that allows you to build authentic relationships with people that will be come your friends and advocates in business.

3. Get Your Social Game Cooking

Let’s face it, Instagram, Facebook, LinkedIn, SnapChat, and Twitter aren’t going away anytime soon, so hire someone to manage your social media for you because your customers spend most of their time browsing the internet on their mobile devices for new places to eat, drink, and be merry. Launching your social media channels long before you open will allow you to build a following that can’t wait to try your new restaurant or bar. Not only that but if you do a good job engaging on social media, they’ll bring their friends with them to your grand opening.

4. Launch A Loyalty Program

Begin enrolling people in your loyalty program before you open doors. You can do this by using your social media channels to acquire subscribers to your loyalty program so they get notified via text or email as soon as you launch! It’s also automatic in most cases, allowing you to focus on opening your business.

5. Use Email

With everyone, including me, being glued to our devices 80% of the time, there’s never been a better time to have someone’s email address. So don’t run out and buy a Square Register because they don’t allow you to capture email addresses. You need a POS system that allows you to capture that information and use it for your business. Setting up an email campaign will allow you to stay on someone’s mind as they are living their life. Research shows that customers are more likely to come back if you stay in touch via email or some other means.

6. Develop Marketing Partnerships

You don’t have to do this alone. You have food & liquor to entice people. Network with entrepreneurs in your community and ask them if they would be willing to hand out your gift cards to some of their choice clientele, and do the same for them. You can build a great business by being a resource and collaborating with other non-competing businesses around you.

7. Donate Your Talent

Create a raffle or an opportunity for someone to get a free dinner for two or a free growler with a t-shirt at a local community event. This gets your name in front of people and before you know it you’re a household name!

8. Follow & Set Trends

You’re opening a bar or a restaurant because it’s probably something you love or at least enjoy. It important to have your own style and to be a trendsetter, but it also doesn’t hurt to add certain menu items that are already in high demand so you become the new hip place that is current with the times and has unique food or beverages they can’t get anywhere else. For example, people in today’s world are super health conscious and into the latest health fad, so do something with it in your business. Add some acai berries to those tacos, sprinkle some chia seeds on it, baby!

9. Sponsor A Local Cause

If you know anything about Millennials, we’re the generation that gravitates to companies that believe in making the world a better place. Whether it’s animals, whales, global warming, or some other cause that benefits the world, we are more likely to support a business that values what we value over one that doesn’t seem to have values that matter. So sponsor a cause that you get behind, and in the spirit of gratitude, you will attract people to your business that will value your business and advocate for your success.

10. Cater To The Ladies

It’s no secret that the ladies make most of the financial decisions.  So ignore the fellas and go all in on making sure your entire experience caters to her, cause the fellas just want to hang with the ladies no matter where it is, and we will spend the money to make sure she’s happy. Period.

11. Create A Funny Commercial

If you can make people laugh, they will follow your business and want to come find out what your business is all about. They will also watch your video several times on your website and share it with their friends and family. If nothing else, make a video that shares the mission behind what you’re doing and people will want to be connected with the positive energy.

12. Make Remarkable, Inviting Brand Clothing

Having cool logos, t-shirts, pens, and hats go a long way. If you’re wearing your company brand around and it looks cool, people will ask you about your business and you have an opportunity to hand out your gift card or coupon to your grand opening.

13. Hand Out Gift Cards

You can’t just wait for clients to come to you. You should keep 100 gift cards in your car at all times with $5 on them and you should hand them out at every function you go to. I’ve been to dozens of restaurants after meeting the owner in line at the store where I was given a gift card. You never know who works at the big company that calls you up with a huge catering order.

14. Host A Networking Event

Bringing people together in your local community to exchange leads to grow their business is a great way to allow people to enjoy your space and learn about your new business while growing theirs. Contact local associations and offer your space and perhaps a discount on food or beverages if they have their event at your establishment.

15. Contribute To A Local Youth Sports Team

Hey, everyone loves the kids. And people appreciate it when you’re genuinely interested in supporting what their children are up to. Find a local youth team that you can inspire with your experience as a growing entrepreneur in the community. You will build relationships that will benefit you in business, but you will also make a positive impact on our future leaders.

16. Hire Well Connected, Goal Oriented Staff

Hiring the right people is important because you can’t do it all by yourself. You will need other people in your business that will help you drive sales and communicate with customers. The reason I say well connected and goal oriented is because well-connected people will be able to draw their network of friends and family into your establishment. Goal orientation is critical because people with goals are more likely to provide excellent customer service as they want to advance their career while they build a solid reputation.

17. Have A Grand Opening

Have a grand opening and make sure everyone knows about it. Make sure it’s before your soft opening so you don’t have to worry about whether your team is ready for primetime. Use this event as an opportunity to share what makes your bar or restaurant different from everything else people already have access to. This is also a great time to hear from your community what they are looking for in a bar/restaurant so you can make sure you deliver.

18. Create A Corporate Benefits Program

Do you have larger employers in your area? Pick one or two and approach them about creating a benefit for their employees. Maybe you can be part of their employee appreciation strategy? This can be a great way to expand your audience and create brand loyalty, especially if you’re able to help them increase their employee retention and engagement.

19. Deliver Free Samples To Other Local Businesses

Everyone loves free samples, especially if they get to be in on a new product or service before it launches. Put together some samples and schedule a time to drop off some samples to the businesses you would like to do business with. This is also a great time to get feedback on ways you can improve your product.

20. Make A Difference & Check Out Causely

Social media is a great way to spread the message of your restaurant, but one of the biggest challenges for businesses is getting people to engage with their brand on Facebook. You need to attract people to your social media channel, and then you need to engage with them in somewhat real-time so your followers can build a relationship with your brand. Causely helps you attract them by donating to a charity when people check-in at your restaurant or bar. When people check-in their network is notified bringing exposure to your business all while making the world a better place.

21. Host Education Classes

One way to develop brand ambassadors for your new restaurant or bar is through education. Host a 1-hour event at your establishment and teach them how to make a dessert or their favorite drink. I know what you’re thinking, this sounds a little counterintuitive, but the reality is that while people will learn your secret sauce, they probably won’t have time to replace you so they will be back and will be happy to frequent your restaurant or bar no matter what. What this accomplishes though is people naturally want to spend money with people they know, like, and trust and will see your brand differently than your competitors simply because they got to spend a little more time with you. If you don’t have time to do it, have one of your vendors come in and teach the class on your behalf.

22. Connect With The Local News Channel

Remember when we talked about dropping off some free samples? Well here’s where you can implement that strategy. Drop your secret sauce off at the news station and see if you can get some air time! The local news station is always looking for a cool local story to tell to offset the rest of the nonsense in the news, so take advantage of it!

We hope this article helps you grow your business and dominate in the market. We are cheering for you at the Northwest Advisory Group! Don’t hesitate to reach out if there’s anything we can do to help.