Question #1: How do I know which payment processor to select?
There are hundreds of Credit Card processors to choose from both in and out of your market footprint.
Choosing a processor in your area allows you to take advantage of hands-on help when needed. It also
allows you and GMMP to reciprocate business referrals and patronize each other’s place of business.
Merchant processing services aren’t created equal. The following are some factors to consider when
you’re selecting a processor:

Credit Card Processing Experience. Do they have a proven track record in the payments processing
industry? Check out reviews of the company from neutral third-party sources as well as current
customers. Ask for a client list of their customers and check references.

Knowledge of your industry. Every line of business has different needs depending on their industry.
It’s important that your processor has experience in your line of business so they can advise you on
payment solutions that are the best fit for your individual needs and can help you grow. Whether you
are B2B or a Merchant to Retail, having a partner with knowledge in your field will allow a better match
of payment solutions, saving you time and money.

Commitment to data security. One of the best ways that you can protect your business, your
reputation, and your customers is by complying with the Payment Card Industry Data Security Standards
(PCI DSS). When you layer in technologies such as Tokenization and Encryption, it makes compliance
faster and easier by reducing PCI requirements. Data security should always be a top priority. Make
sure your processor is PCI Compliance capable and can guide you to data security.

Customer support. Ask about customer support that would be available following your account set up.
You may need support and training when you’re getting up and running, when systems change, and at
any other point you need help. Look for a processor that offers live 24/7 customer support to help keep
your business running. At GMMP, you will have cell phone access to key management and a backup call
center available 24/7.

Question #2: Will my business qualify for a merchant account?
As our credit card processing environment continues to evolve and change, most industries will qualify
for processing on an appropriately built platform. Give us a call at GMMP and we’ll have a detailed
discussion on how we can help. GMMP does process for most lines of business including high-risk
industries on specific platforms which allows us to align with your credit card processing goals.

Question #3: How much will credit card processing cost?
The cost of accepting credit cards varies widely and is based on the types and mix of cards you accept
throughout the billing cycle. A reward card accepted will cost more than a PIN Debit card, for example.
When you sign the contract with your payment processor, make sure you pay attention to how and
what fees will be assessed. Make sure your processor can design a specific and individualized plan for
you which will allow you to choose to pay all your fees, pass some fees on to your customers, or pass all
fees on to your customers using GMMP’s Cash Discount Program. GMMP offers a program for all plans
and passing the fee on to your customers can save tens of thousands of dollars per year.

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Question #4: What payment types can I accept?
Check to see that your processor can take payments anywhere, simply, and securely. One of the keys to
running a successful business is providing a great customer experience. No matter what product or
service you provide, one of the ways you can do this is by providing frictionless payment experience. It
is important that your processing partner process credit cards to your individual needs. Whether you
are B2B, online, Merchant Store front, a mobile payments provider like pizza delivery or tow trucking
companies, over the phone or anything else, make sure they understand a can fulfill your needs.

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Question #5: What type of POS terminal do I need?
There are lots of options in POS terminals. The type of terminal you select depends mainly upon the
payments options you want to accept, as well as where and how you need to accept those payments. If
you’ll only be accepting payments from a physical location, a countertop model may be the best option.
If you accept payments offsite, such as trade shows, festivals or farmers’ markets, a mobile POS system
may be the way to go. For phone payments, you may want to discuss a virtual terminal. No matter your
requirement, GMMP has a solution.

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Question #6: When will I receive funds in my bank account from the credit card transactions?
The amount of time it takes to deposit your customer funds into your bank account depends on the
processor you choose. The time it takes from one processor to another can vary from the next day to
several days. Ask this question if you have a concern about waiting for your money so you don’t get
caught with low funds. GMMP has options for next day funding with batch out times as late as 11PM
EST.

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Question #7: How long will it take to begin accepting card payments?
This will vary depending on your industry. B2B and other businesses requiring a stand-alone terminal or
Virtual Terminal can be set up in a couple of days. If you’re a larger business with lots of locations and
POS terminals, your ramp-up time may take longer. Also, you may be able to set up payment processing
more quickly if you choose a mobile processing application versus a traditional countertop POS system.
At GMMP, we will work with you to create your customized fit in a timely and efficient manner.

Question #8: How can my payment processor help me to grow my business?
Make sure your credit card processor has the right tools designed for your short-term and long-term
success. The right partner will go beyond simply helping you accept payments. They will help you:

Understand your costs:
Merchant Reporting - Managing payments and reporting has never been easier. All the tools you need
to effectively run your business are in one convenient location. Our online reporting tool lets you know
where your money is at all times – while clearly spelling out all of your transactions and fees.

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Automate routine tasks:
Automated Invoicing - Our powerful invoicing plug-in helps you take control of the accounts receivable
process and your cash flow. Automate invoicing, collection, and reconciliation directly in your
accounting software.

Build customer loyalty:

Gift Cards & Loyalty Programs -Boost sales and encourage repeat business with our gift card and loyalty
programs.

Get additional funding:
Merchant Financing - Get flexible financing solutions with less paperwork and quicker turnaround times.

Keep more of your profits:
Cash Discount & Surcharging - Easily offset 75-95% of your credit card processing costs. These profits
can be reinvested into your business so you can do more of what you love and grow.

Get paid faster:
Next Day Funding – With GMMP’s next day funding, you’ll have your previous business day card
processing in your account the next day with up to 11PM (EST) batch out.

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Question #9: What if I need to terminate my payment processing contract early?
Some processing contracts include an “early termination” clause, and some do not. In some cases, you
may be assessed a fee if you end your agreement early, while other processors may waive such fees. If
you think there’s a chance that you’ll need to end your credit card processing early, make sure you
check the contract carefully before you lock into an agreement.

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Have more questions? Reach out to one of our payment experts anytime.