First Data Merchant Account Review

If you operate a business, you need a merchant account. A merchant account allows you to accept credit cards, and process other card related (debit cards, gift cards, food stamp cards, etc.) transactions. Indeed, with most people using some form of plastic as their payment, it is important to have a merchant account that enables the processing of credit cards. Additionally, it helps to have a merchant account that can provide you an Internet payment gateway so that you can accept card transactions online. With more people shopping online, it is all about making things more convenient for the customer. In fact, credit cards and other types of cards are so convenient and popular that many customers won’t buy from you if you do not accept.

FirstData payment processing

With a First Data merchant account, you have access to a number of options. Some of the options for payment processing, in addition to regular credit card and debit card transactions, include:

• CONNECTPAY: This is a product that allows most payments on just about any device. It comes with loyalty and membership program capability, so that you can set up these types of programs for your customers.
• PayCargo: This product is aimed mostly at companies that do a lot of shipping. It is a freight payment system that is centralized and designed to help your company on a global scale.
• EFS Discount Card: You can get fuel discounts for your car or truck fleet. This is especially helpful if you make a large number of deliveries.
• TeleCheck: This is a product that allows for check processing. When you use a service like TeleCheck, you get a certain level of risk management, since there are electronic verification methods.
• Currencies: If you do business around the world, it can be helpful to have a product that allows you to work with foreign currencies. FirstData offers that capability.
• RFID Payments: Credit cards are increasingly being outfitted with RFID chips that send payment information to a terminal. This precludes the need to swipe a credit card. A FirstData merchant account would allow you accept payment in this manner, speeding things up.
• Deposit and remittance: If you have a process of remittance or disbursement, FirstData can help you set up the systems you need.
• Reporting: Many merchant accounts offer reporting systems and analysis. FirstData is no different. You can get access to customer buying habits and other information that can help you make better informed business decisions.

First Data offers a range of other services that can meet your needs, including payroll, ATM, Internet banking, mobile commerce and even card issuing (you can customize credit cards for your customers, if you like). It is a merchant account that tries to offer a wide variety of products and services that can help you integrate almost every part of your business.

It is also important to note that FirstData offers ecommerce solutions by providing an Internet payment gateway. If you want to sell your products and services online, you need to be able to accept payment online. It’s necessary for customer convenience.

About FirstData

FirstData is actually a spin off from American Express. FirstData went public in 1992, and since then has completed a number of mergers that have made the company so helpful for businesses. FirstData took over First Financial Management Corp. (and acquired Western Union in the deal, before spinning off Western Union into an independent, publicly traded company in 2006). FirstData also bought Concord EFS (which included the STAR Network). Now the company is one of the largest service companies, and it has been acquired by one of the affiliates of Kohlberg Kravis Roberts & Co.