4 expectations when evaluating service quality from payments providers

Your payment services provider should be a true partner that aligns with your financial goals and values. Service excellence is at the center of achieving these goals. Let’s explore the critical aspects to consider from a service perspective to ensure a seamless partnership.

Single point of contact with multi-layered support

A single point of contact can create remarkable efficiency and enhance your business operations. This approach addresses a key service gap frequently experienced by businesses: siloed support and fragmented knowledge among different vendor representatives. 

The single-point-of-contact model can:

• Reduce friction during communication of issues.
• Deepen understanding of your needs.
• Accelerate resolutions and minimize downtime.
• Foster a proactive partnership through an in-depth understanding of your business. 

This isn’t just a contact; it’s a strategic partner invested in your success. When choosing a payment vendor, prioritize one that offers a dedicated single-point-of-contact model backed by a multi-layered support structure. This combination bridges service gaps and ensures you receive the personalized attention and expertise your business deserves. 

24/7 accountability: Uninterrupted support

Your business may depend on your ability to support sales and payment processing at all hours of the day. You need a payment provider that’s there for you whenever you need help.

A reliable payments vendor recognizes someone on tap at all times who is responsible for your account. This accountability extends beyond standard office hours so you have unwavering support regardless of the time zone or business hours. 

Proactive account evaluation

Your payments vendor should be a proactive ally. This approach bridges a critical service gap experienced by many businesses: Relying solely on internal monitoring and missing out on valuable insights from their payment processors. 

Instead of waiting for problems to surface, a proactive payment vendor is a dedicated account manager who actively evaluates your payments ecosystem. The owner of your account should actively engage with you, offering insights and suggestions to:

• Enhance efficiency
• Reduce costs
• Capitalize on emerging opportunities

Don’t settle for reactive support. Choose a payment vendor that embraces proactive account evaluation, unveiling opportunities and propelling your business forward. Remember, a true partner prioritizes your success, ensuring your payment ecosystem is optimized for efficiency, cost-effectiveness, and future growth. 

Smooth implementation

Most businesses focus solely on comparing features and fees when choosing a payment provider. While these are important, consider one hidden gem: A provider that invests in building relationships before you even sign the papers. This doesn’t just mean a friendly sales call, it’s about deep knowledge and genuine care. 

Pre-existing relationships translate into tangible benefits. By understanding your pain points beforehand, the provider can create a personalized implementation plan that minimizes disruption and maximizes efficiency. Also, with a clear understanding for your business, the provider can identify and address potential integration issues before they occur, saving you time and money. 

Finally, a tailored solution and proactive support mean you can start reaping the benefits of your payment system sooner rather than later. This is because a created strong foundation of trust and understanding fosters a collaborative relationship, where your provider becomes a true partner in your growth, continuously adapting to your evolving needs.

Where do we find these relationship-first providers? Look for these points:

• Find companies with dedicated onboarding teams and personalized support options.
• Ask about their approach to understanding customer needs and tailoring solutions.
• Read customer testimonials and reviews to see if relationship building is a recurring theme. 

For more insights and updates on corporate payments, check out:

• Virtual card numbers: What they are and what you need to know
• Beyond corporate payments: Is the secret to better cash flow management AI?
• 5 ways you can reduce fraud by choosing virtual cards

Learn more about how WEX payment solutions can be tailored to your business, so you can accelerate and streamline operations while creating lasting growth and success for your organization.

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax, and investment advisers.