Reliance Merchant Services Review

Reliance Merchant Services is a business owned by a woman, providing a wide variety of payment processing solutions customized for businesses of any size. Established in 2004 by Mary Kate Gobleck, RMS has become a trustworthy player in the payment processing sector. The company strives to provide affordable and effective payment solutions, all while upholding a robust dedication to serving customers and being actively involved in the community. Let’s delve deeper into the Reliance Merchant Services Review.

In 2004, Mary Kate Gobleck established Reliance Merchant Services in her own home. Having experience in both Wall Street investment banking and e-commerce, Mary Kate used her knowledge to establish a business specializing in top-notch merchant services. Throughout the years, Reliance Merchant Services has increased its range of services to assist businesses in Fairfield, Westchester, and New Haven counties, along with other areas in the United States. The mission of RMS is to offer exceptional payment processing services that help businesses thrive. The company values integrity, customer satisfaction, and community support. Reliance Merchant Services prides itself on its personalized approach, ensuring that clients receive the best possible service tailored to their specific needs.

Mary Kate Gobleck serves as the president of RMS, bringing over 17 years of experience in the merchant services industry. Her leadership has been instrumental in the company’s growth and success. Key members of the RMS team are Casey Schneider, who serves as the Vice President of Client Services, and Heli Quick, who holds the position of Director of Finance. Casey started working at the company in 2017 and is responsible for handling client services, whereas Heli, who joined in 2011, supervises financial reporting and PCI compliance. As a team, they make sure that RMS offers excellent service and support to its clients.

Services Offered by Reliance Merchant Services | Reliance Merchant Services Review

Reliance Merchant Services provides a wide variety of payment processing solutions tailored for different business requirements. Reliance Merchant Services offers services that make payment processing easier and more efficient for businesses, prioritizing customer satisfaction.

Payment Processing Solutions: RMS enables businesses to process payments through a variety of methods.

Credit Card Processing: Businesses have the ability to receive all major credit cards, which helps to create smooth transactions and open up more sales possibilities.

ACH Debit and E-Check Services: RMS offers ACH debit and e-check services, providing a cost-effective alternative to credit card payments and improving cash flow management.

Recurring Billing Solutions: This service enables companies to automate routine payments, cutting down on manual work and guaranteeing timely payments.

Internet Gateway Products for E-Commerce: RMS supports online businesses with internet gateway solutions that facilitate secure and efficient e-commerce transactions.

Wireless Terminal Solutions: RMS offers wireless terminal solutions for businesses that are mobile, allowing for processing of payments on the go.

Restaurant Online Ordering: RMS helps restaurants enhance their operations with online ordering systems, improving order accuracy and customer convenience.

Gift Card Programs: RMS’s gift card programs aid businesses in increasing sales and fostering customer loyalty.

Next Day Funding: Qualified merchants can benefit from next-day funding, improving cash flow by receiving funds quickly after transactions.

Capital Funding: Reliance Merchant Services offers short-term capital funding, providing businesses with necessary financial support based on their credit card sales history.

FSA/HRA Payment Card Processing: Healthcare companies can efficiently handle Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) cards with the help of RMS solutions.

Check Processing/E-Check Services: RMS provides check processing and e-check services, helping businesses handle check payments securely and efficiently.

Event Payment Processing: For businesses that need to manage payments at events, RMS offers tailored solutions to ensure smooth and reliable payment processing.

RMS is a flexible ally for businesses seeking to improve their payment processing abilities through a range of inclusive services.

Fee Structure and Contract Terms

Reliance Merchant Services offers a versatile fee system tailored to accommodate the varied requirements of different businesses. The ability to adapt is a core advantage for Reliance Merchant Services, yet it may pose a challenge for prospective customers due to its complexity.

RMS charges merchants based on the type and volume of transactions. Standard transaction fees for swiped and keyed-in transactions range from 1.00% to 4.99%. Yet, the precise rates may differ based on the business’s risk profile and processing history. RMS stands out from its competitors by usually not imposing setup, application, or statement fees, which can greatly lower initial expenses for businesses. Nevertheless, there are other fees to consider, such as those for chargebacks and PCI compliance.

Contract Intricacies and Variable Terms: The contracts offered by RMS are tailored to each business’s specific needs, leading to a range of terms and conditions. This individualization implies that contract terms may vary greatly among companies. Contracts might contain fluctuating rates that are subject to change depending on the transaction volume or other variables. Traders need to examine these terms closely in order to comprehend all possible expenses completely. It’s also important to note that while RMS does not always require long-term commitments, some contracts may include clauses for early termination fees if the agreement is broken prematurely.

Comparison of Fees with Industry Standards: Compared to industry standards, RMS’s fee structure is competitive but can sometimes be less transparent. While Square and Stripe provide fixed pricing, RMS offers fluctuating rates that can save money for certain companies but could result in increased expenses for others. The absence of setup and application fees is a significant advantage, but potential clients should compare the total cost of ownership, including all transaction and incidental fees, to those of other providers.

Transparency in Pricing: Transparency in pricing is an area where RMS has room for improvement. Although the company denies using deceptive marketing, some customers have complained about finding undisclosed fees in their contracts. In order to prevent unexpected situations, it is recommended for companies to ask for a thorough explanation of all potential charges and to clear up any unclear terms before agreeing to a contract.

In conclusion, while RMS offers a flexible and potentially cost-effective fee structure, businesses should conduct thorough due diligence to ensure they fully understand all contract terms and potential fees. This careful approach will help them take full advantage of RMS’s services without encountering unexpected costs.

Sales and Marketing Strategies

Reliance Merchant Services takes a thorough approach to sales and marketing, concentrating on establishing trust and fostering long-lasting relationships with their clients. Their tactics are crafted to guarantee openness, dependability, and client approval.

In-house Sales Team: RMS employs a dedicated in-house sales team that is well-trained and knowledgeable about the company’s products and services. This team is responsible for directly engaging with potential clients, providing detailed information, and helping businesses understand how RMS can meet their payment processing needs. By keeping sales operations in-house, RMS maintains greater control over the customer experience and ensures a consistent message.

Traditional Advertising Methods: RMS uses conventional advertising techniques like print ads, direct mail campaigns, and attending industry trade shows to appeal to a wide audience. These techniques enhance brand recognition and draw in companies that could use their services. Utilizing traditional marketing methods, RMS is able to effectively convey their value offering to possible clients.

Reliance on Existing Customers for Referrals: Word-of-mouth referrals from satisfied customers play a significant role in RMS’s marketing strategy. Happy clients are encouraged to refer other businesses to RMS, leveraging their positive experiences to attract new customers. This referral system not only helps build a loyal customer base but also reduces marketing costs and enhances the company’s reputation through trusted recommendations.

Absence of Deceptive Marketing Tactics: RMS takes pride in being honest and transparent in all marketing and sales activities. The company steers clear of misleading marketing strategies, making sure that all advertising materials and sales presentations truthfully depict their services and charges. By staying committed to honesty, Reliance Merchant Services gains clients’ trust and nurtures lasting relationships, establishing itself as a dependable ally in the payment processing sector.

Customer Support and Service

Reliance Merchant Services prioritizes delivering top-notch customer support to meet their clients’ needs promptly and effectively. The dedication to customer service is apparent in the various support channels and resources they provide.

Multiple Customer Support Channels: RMS provides several ways for customers to reach their support team, including phone, email, and a support form available on their website. This multi-channel approach ensures that clients can choose the most convenient method for them to get assistance. Whether it’s a quick phone call for urgent issues or an email for detailed inquiries, RMS aims to be accessible and responsive.

Knowledge Base and User Manuals: RMS provides clients with extensive resources like a knowledge base and user manuals to enhance their capabilities. These materials discuss a variety of subjects, from establishing payment processing systems to solving typical problems. RMS supports customers in solving issues independently by offering in-depth guides and instructional resources, which improves their experience and minimizes downtime.

Quality of Customer Service: The quality of customer service at RMS is a key differentiator. The support team is known for their professionalism, technical expertise, and willingness to go the extra mile to assist clients. This high standard of service helps build trust and ensures that clients feel valued and supported throughout their partnership with RMS.

Availability and Responsiveness: RMS’s customer support is not only high-quality but also highly responsive. The team is ready to quickly resolve any client issues, keeping their business operations running smoothly and without interruptions. The availability of support staff and their quick response times are critical in maintaining the reliability and efficiency that clients expect from their payment processing provider.

Customer Reviews and Reputation

Reliance Merchant Services typically receives favorable reviews from its clients, demonstrating a solid standing in the payment processing sector. Clients frequently emphasize the dependability and effectiveness of RMS’s services, which have helped solidify its positive reputation.

Customers appreciate RMS for its comprehensive range of services and customer-oriented approach. Positive reviews often mention the ease of use, the variety of payment processing options, and the company’s commitment to customer service.

Common Praises and Complaints: Common praises for RMS include its robust customer support, competitive pricing, and the effectiveness of its payment processing solutions. Clients particularly value the next-day funding option, which significantly improves cash flow. Some clients have expressed worries about the transparency of contract terms and hidden fees at times. Nevertheless, these grievances are quite rare and usually unique to personal encounters.

Analysis of Online Reviews: Online reviews indicate that RMS maintains a solid reputation with a majority of positive feedback. Sites such as CardPaymentOptions.com and MerchantServicesUpdate.com highlight the company’s strengths in service quality and customer satisfaction. While some reviews mention issues with fee transparency, RMS’s overall rating remains high due to its proactive approach to addressing customer concerns.

Better Business Bureau Profile and Rating: Reliance Merchant Services has a positive reputation with the Better Business Bureau (BBB), demonstrating its dedication to ethical business practices and ensuring customer satisfaction. The BBB currently gives the company an “A” rating, but details on complaints and resolutions are not well-documented. This rating highlights RMS’s commitment to nurturing a reliable relationship with its customers.

Overall, Reliance Merchant Services enjoys a strong reputation supported by positive customer feedback and a high rating with the BBB, making it a reliable choice for businesses seeking comprehensive payment processing solutions.

Pros and Cons

Reliance Merchant Services provides multiple advantages that position it as a strong option for companies looking for payment processing solutions. Nevertheless, there are also certain disadvantages that prospective clients need to take into account.

Comprehensive List of Pros

Wide Range of Services: RMS provides a broad spectrum of payment solutions including credit card processing, ACH debit and e-check services, recurring billing solutions, internet gateway products for e-commerce, and wireless terminal solutions.

Strong Customer Support: RMS is recognized for its fast and efficient customer service team, dedicated to quickly resolving client concerns.

Next Day Funding Option: This feature is particularly beneficial for businesses looking to improve their cash flow by accessing funds quickly after transactions.

Recurring Billing Solutions: RMS provides automated billing solutions to assist businesses in minimizing manual tasks and guaranteeing prompt payments.

Cash Discount Program: This program enables merchants to lower their processing fees by encouraging customers to pay with cash, thus reducing overall expenses.

Comprehensive List of Cons

Undisclosed Information in Contracts: Some customers have reported unexpected fees that were not clearly communicated at the time of signing, highlighting a lack of transparency in contract terms.

Inadequate Support Options: While Reliance Merchant Services generally provides strong customer support, there have been instances where the support options were deemed inadequate by some clients.

Variable Pricing and Contract Terms: The pricing and contract terms can vary significantly depending on the business’s risk profile and transaction volume, which may lead to inconsistencies.

Potential for Higher Rates Post-Signup: There is a possibility that the rates may increase after the initial signup period, which can be a concern for some businesses.

In general, although RMS has numerous beneficial features and reliable support, it is important for potential clients to thoroughly examine contract specifics in order to prevent any unforeseen expenses.

Competitive Comparison

When comparing Reliance Merchant Services with leading rivals in the payment processing sector, various factors are considered. Having a grasp of this information can enable businesses to make a well-informed choice.

Comparison with Top Competitors: Reliance Merchant Services competes with well-known names like Square, PayPal, and Stripe, which are renowned for their user-friendly interfaces and comprehensive service offerings. Compared to these giants, RMS provides a more personalized approach, catering specifically to the needs of small and medium-sized businesses.

Strengths and Weaknesses Relative to Competitors: RMS stands out for its excellent customer support. Although Square and PayPal provide many online resources, Reliance Merchant Services sets itself apart with its exceptional customer service that is both responsive and personalized. Nevertheless, RMS’s pricing can be less transparent and more variable than rivals such as Stripe, which has a simple, flat-rate pricing model.

Another strength of RMS is its next day funding option, which is highly beneficial for businesses needing quick access to funds. Competitors like PayPal also offer fast transfers but often at an additional cost. A weakness of RMS, however, lies in its potential for undisclosed fees, which can be a disadvantage compared to the more transparent pricing models of competitors like Square.

Unique Selling Points of RMS: RMS’s unique selling points include its wide range of services tailored to different business needs, such as ACH debit and e-check services, recurring billing solutions, and a cash discount program. These features make RMS particularly attractive to businesses that require diverse payment processing options. Additionally, the company’s commitment to strong, personalized customer support and next day funding distinguishes it from larger, less personal competitors.

Conclusion

Reliance Merchant Services provides various payment processing options with excellent customer assistance and special features such as next-day funding. Despite some possible drawbacks like hidden fees, businesses looking for personalized payment services may find RMS to be a reliable option. Enterprises must thoroughly examine contract provisions prior to making a commitment.