How can a merchant banker help?
Merchant services bankers can provide you with turnkey solutions and equipment financing to help you expand your business through enhanced payment options. They should be able to either lease or sell you a POS terminal. Some business owners opt to lease first, then purchase later, so they can try the equipment before committing. A merchant services banker can also help your company expand into e-commerce by recommending a shopping cart vendor for Internet purchases. If you select the same bank for your merchant account and merchant services, the money from transactions normally transfers into your account in 24 hours instead of 48, which improves cash flow. Your banker should also be able to give you advice and ideas about the best ways to expand your business through the strategic use of merchant services, so owners should see them as a complete resource to build revenue. MARK HAYES is vice president and commercial merchant sales manager for Fifth Third Bank. Reach him at (813) 306-24
