| The Merchant Solutions have changed in recent times. It has become more complex due to specific requirements of the user. The new software and equipment specific to each industry are now available. The know how of these new products and services are essential to success of Merchant Services division of a financial institution. Additionally the risk element in the Merchant Services has become a major issue with all providers. Due to this complexity the financial institutions have started to outsource Merchant Services to specialized firms like Merchants Group Inc (MGI).
This is what MGI ‘s program is for financial institutions.
No liability for financial institutions
The financial institution will have no merchant liability when boarding a merchant with MGI on all merchants who meet the underwriting guidelines. The financial institution will have an option to ask MGI to board a merchant based on their relationship with the customer by signing an indemnity. The program is very flexible to ensure a complete support to the financial institutions’ customers.
Hassle free merchant boarding
The financial institute will be able to download the Merchant Application from the web site. Fill in the basic customer information and get customer signature. MGI will take it from here from completing application to recommending the suitable equipment and software for the merchant.
No equipment installation or placement and training
MGI will take care of equipment installation and placement. MGI will also give the necessary training to the Merchant on both equipment and the software. MGI will walk the Merchant through the entire process.
Customer service
MGI will provide 24 / 7 customer service to the Merchant. If desired the financial institution will be able to also monitor the Merchant transactions on a daily basis. In most case there will be a local representative assigned to the financial institution to provide personalized service.
Advantages and benefits
There are equal benefits for the financial institution and MGI. Please contact MGI to set up a meeting to enable MGI to give a complete demonstration of our program and its benefits.
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