Mercantile Processing Inc. Review

Established in 2006 in Sussex County, Delaware, Mercantile Processing Inc. (MPI) has expanded to become a leading company in offering payment processing solutions. While its main office remains in Delaware, the company has expanded to have multiple offices throughout the United States, catering to a diverse group of businesses at home and abroad. Over time, MPI has broadened its range of services to go beyond just traditional merchant solutions and now offers a comprehensive selection of business services aimed at improving operational efficiency for its customers. Lets read more about Mercantile Processing Inc. Review.

The company is dedicated to offering outstanding customer service and customized payment solutions designed to meet the unique requirements of various industries. Their commitment to enhancing customer experience is clear through their various services, such as credit card processing, payroll solutions, point-of-sale (POS) systems, and ATM services. Mercantile Processing Inc. has prioritized making payment systems more efficient for businesses, enabling them to save time and money.

Mercantile Processing Inc. serves a variety of industries, including retail, hospitality, medical services, and more. Their offerings are flexible enough to accommodate small local businesses as well as larger enterprises and government institutions. With its industry-specific solutions, such as the Lavu POS system designed for restaurants and the Vend system tailored for retailers, MPI is well-equipped to meet the diverse needs of its clients. These systems integrate payment processing with resource management, enabling businesses to operate more efficiently. Whether it’s offering seamless e-commerce payment integrations or supporting mobile transactions for businesses on the go, MPI continues to innovate within the payment processing landscape, making it a valuable partner for a wide range of industries.

Core Services Offered by Mercantile Processing Inc. | Mercantile Processing Inc. Review

Mercantile Processing Inc. (MPI) provides a wide variety of payment solutions designed to meet the specific requirements of companies across different industries. Their services aim to streamline payment processing for businesses by offering dependable and effective solutions for managing transactions, whether in-person or on the internet.

Payment Processing

At the heart of MPI’s offerings is payment processing. They provide a versatile system for accepting credit and debit card payments in-store, online, or via mobile devices. Whether through traditional countertop terminals, wireless terminals, or virtual terminals for card-not-present transactions, MPI ensures businesses can handle payments in any scenario. Their mobile payment options allow businesses to accept payments using smartphones and tablets, making transactions seamless and convenient across multiple platforms.

E-commerce Payment Solutions

MPI also has expertise in providing e-commerce payment solutions, enabling businesses to connect their payment systems with online shopping carts and stores. Their offerings include functions like recurring billing, which is especially beneficial for services that rely on subscriptions. By implementing secure payment gateways, MPI guarantees that businesses can safely and efficiently conduct online transactions. The linking of payment systems to online platforms aids businesses in managing transactions and ensuring customer security for online purchases.

Point of Sale (POS) Systems

For Point of Sale (POS) systems, MPI offers a robust set of features aimed at brick-and-mortar businesses. These systems go beyond payment processing to include inventory management, sales tracking, and detailed reporting tools. By partnering with industry-specific solutions like Lavu (for restaurants) and Vend (for retailers), MPI ensures that businesses have access to the best tools for managing their operations efficiently while enhancing customer service.

Additional Payment Methods

MPI provides additional options such as ACH payments, e-checks, and in-house gift and loyalty card programs. These solutions allow businesses to offer a broader range of payment methods to their customers. The gift and loyalty card programs, for instance, help businesses build customer loyalty by allowing easy rewards and customizations. MPI’s flexibility in offering various payment methods ensures that businesses can cater to different customer preferences, ultimately improving customer satisfaction and retention.

Security and Compliance

In the world of payment processing, maintaining robust security and ensuring compliance with industry regulations is crucial. Mercantile Processing Inc. (MPI) places a strong emphasis on data security and compliance, employing several strategies to protect both businesses and their customers.

Data Security Measures

MPI uses cutting-edge technologies such as encryption and tokenization to guarantee the security of all transactions. Encryption transforms confidential information like credit card details into a protected form that is only accessible to approved individuals. This prevents data from being accessed by malicious individuals. Tokenization, conversely, swaps out confidential information with individual tokens that hold no value if taken, providing an extra level of security. MPI also abides by PCI DSS compliance, a collection of security standards that guarantee companies securely handle credit card information during processing, storage, and transmission.

Fraud Detection and Prevention Strategies

MPI implements fraud detection and prevention strategies to safeguard businesses against fraudulent activities. Their payment systems are equipped with tools to monitor and flag suspicious transactions in real-time, minimizing the risk of chargebacks and fraud. By using secure payment gateways and fraud detection tools, MPI ensures that both businesses and customers are protected from unauthorized transactions. These proactive measures help businesses reduce financial risk and maintain the trust of their customers.

Compliance with Industry Regulations

Maintaining compliance with industry regulations is essential for any payment processor. MPI not only meets PCI compliance but also stays updated with evolving regulatory requirements. This ensures that businesses using MPI’s services remain compliant with data protection laws, financial regulations, and industry standards. By ensuring compliance, MPI helps businesses avoid penalties and legal risks, while also maintaining a high level of trust and security for their operations.

Merchant Account Features

Mercantile Processing Inc. (MPI) provides a wide variety of merchant account services designed to suit the requirements of different business scales and sectors. The merchant accounts they offer are created to offer flexibility, efficiency, and security, guaranteeing that businesses can handle transactions with ease and certainty.

Detailed Look at Merchant Accounts

MPI provides merchant accounts that allow businesses to accept payments through multiple channels, including credit cards, debit cards, mobile payments, and e-commerce platforms. These accounts are equipped with essential tools for transaction management, reporting, and fraud detection, making it easier for businesses to track their financial activity. MPI ensures that these accounts are supported by secure gateways and offer integration with point-of-sale (POS) systems, which enhances their functionality and adaptability to various business environments.

Customization Options for Different Business Sizes

One key advantage of MPI’s merchant accounts is the variety of customization options available. Whether a company is a small retail store or a large corporation, MPI provides flexible solutions that can be customized to fit individual requirements. Smaller businesses can access simplified payment systems and basic reporting tools through MPI, while larger businesses can utilize advanced options such as integrated multi-channel payments, loyalty programs, and in-depth transaction analytics. MPI’s merchant accounts are adaptable for various industries, including hospitality, retail, and healthcare, thanks to their flexibility.

Processing Speed, Settlement Times, and Fee Structure

Another important aspect of MPI’s merchant accounts is their processing speed and settlement times. MPI aims to provide fast and efficient transaction processing, ensuring that funds are settled in the merchant’s account within one to two business days. The fee structure is competitive, with transparent pricing that includes processing fees, interchange fees, and any additional charges for specific services like gift card programs or ACH payments. By offering flexible fees based on business size and transaction volume, MPI ensures that merchants receive cost-effective solutions without hidden charges.

Pricing and Fees Structure

Mercantile Processing Inc. (MPI) emphasizes transparency in its pricing and fees structure, making it easier for businesses to understand their payment processing costs. MPI offers multiple pricing models that cater to different business needs and transaction volumes, ensuring flexibility for businesses of all sizes.

Transparency of Pricing Models

MPI employs three typical pricing structures: flat rates, interchange-plus, and tiered pricing. Flat rate pricing involves businesses paying a uniform percentage for every transaction, offering a straightforward and foreseeable choice. In interchange-plus pricing, businesses are billed the base interchange rate along with a slight additional fee. This model is clearer because it distinguishes the fees of the processor from the charges of the credit card networks. The tiered pricing method categorizes transactions into various tiers according to factors like card type or risk, providing different rates for qualified, mid-qualified, and non-qualified transactions. Depending on the nature of the business and its volume of transactions, each model offers its own benefits.

Comparison of Processing Fees, Setup Fees, Monthly Fees, and Potential Hidden Costs

MPI’s processing fees are competitive within the industry, and they aim for transparency with no hidden costs. While specific fee details vary based on the pricing model chosen, MPI is known for offering clear pricing without cancellation fees or long-term contracts. Businesses may encounter standard setup fees when starting their service, but MPI often waives or reduces these depending on the service package selected. Monthly fees include costs for services like payment gateways, but businesses are encouraged to understand the details to avoid any surprise charges. Mercantile Processing Inc. ensures businesses are informed about potential hidden costs, such as fees for chargebacks or certain advanced features, helping maintain a straightforward approach to pricing.

Value-Added Services and Impact on Overall Costs

Mercantile Processing Inc. also offers value-added services like loyalty programs, gift cards, and payroll solutions. While these services can enhance a business’s operations, they may come with additional costs. However, MPI ensures that these services are optional, and businesses can choose whether to include them based on their needs and budget. The value these services bring to business operations often outweighs their cost, providing significant long-term benefits.

MPI’s transparent approach to pricing, combined with flexible fee structures and optional value-added services, makes them a cost-effective option for businesses looking to optimize their payment processing without compromising on quality.

Integration and Compatibility

Mercantile Processing Inc. (MPI) is recognized for its simple compatibility with a range of business systems and platforms, making it a versatile option for companies with existing infrastructures. Their concentration on blending and harmonizing enables businesses to simplify their payment procedures without requiring substantial technical changes.

Ease of Integration with Existing Systems

Mercantile Processing Inc. has been designed to integrate seamlessly with a business’s existing systems, ensuring a smooth transition to their payment processing services. Whether a business operates through a point-of-sale (POS) system, website, or mobile application, MPI offers tools and features that are easy to implement. Businesses can continue using their preferred shopping carts or e-commerce platforms without significant disruption. MPI supports various third-party systems and provides step-by-step support during the integration process, ensuring minimal downtime and a smooth onboarding experience for businesses of all sizes.

Compatibility with Major E-commerce Platforms

Mercantile Processing Inc. works well with well-known e-commerce platforms like Shopify, WooCommerce, and Magento, which makes it a good choice for online retailers. The payment gateway smoothly connects with these platforms, enabling businesses to receive payments without requiring a lot of technical assistance. MPI’s ability to work with popular platforms allows merchants to keep their current websites and online stores, while providing improved payment processing capabilities. MPI’s versatility makes it a suitable option for small e-commerce businesses as well as larger online retailers.

APIs and Developer Resources for Custom Integration

For businesses requiring custom solutions, Mercantile Processing Inc. provides APIs and developer resources. These tools allow developers to create tailored integrations that match specific business needs, ensuring that the payment system works harmoniously with unique software setups. MPI’s API documentation is thorough, providing developers with the resources they need to ensure compatibility with other systems. This flexibility ensures that businesses with custom-built websites or specialized software can still benefit from MPI’s advanced payment processing capabilities without facing compatibility issues.

Customer Support and Service

Mercantile Processing Inc. (MPI) places significant emphasis on delivering strong customer support, a critical element in the world of payment processing where timely assistance can make a difference in daily business operations. MPI provides various channels for customer support, ensuring that businesses receive help when they need it most.

Types of Support Offered

Mercantile Processing Inc. provides various ways for customers to receive support, such as phone assistance, email help, and live chat services. These choices offer customers flexibility to select the most suitable method based on the urgency of their inquiries or technical problems. Having live chat available helps businesses get immediate help, which is crucial for quickly resolving time-sensitive issues. Phone assistance is offered for deeper discussions, whereas email is best for less pressing inquiries or thorough follow-up questions.

Availability of 24/7 Customer Support

One of the standout features of MPI’s customer service is its 24/7 availability. Recognizing that payment issues can arise at any time, Mercantile Processing Inc. ensures that its customer service team is available around the clock to help businesses resolve issues quickly. This 24/7 support is especially beneficial for businesses that operate outside standard hours or across different time zones, allowing them to access help at any time of day or night.

Performance of Customer Service

MPI’s customer service has received positive feedback overall, with clients speaking highly of the support team’s quick response time and ability to solve problems effectively. The technical support from the company is intended to address various problems, such as fixing payment terminals and solving software integration issues. Clients frequently praise the fast response times and the team’s readiness to go above and beyond to address issues, guaranteeing minimal interference with business activities. MPI’s commitment to providing dependable and effective customer service further solidifies its status as a reputable payment processing provider.

User Experience and Merchant Feedback

Mercantile Processing Inc. (MPI) has designed its services with a focus on user-friendly interfaces and intuitive systems, making it easier for businesses to manage their payment processing. Their range of services, including POS systems, payment gateways, and merchant portals, are known for their simplicity and functionality, which enhances the overall user experience for merchants across various industries.

User-Friendly Interfaces

Mercantile Processing Inc. offers POS systems, payment gateways, and merchant portals that are designed to be straightforward and easy to navigate. The POS systems, such as Lavu for restaurants and Vend for retailers, come with built-in features like sales tracking and inventory management, making them a comprehensive solution for brick-and-mortar businesses. These interfaces allow merchants to quickly process transactions, monitor sales performance, and generate reports, all from a single platform. Additionally, MPI’s online payment gateways offer smooth integration with e-commerce platforms, ensuring a seamless payment experience for customers and easy management for business owners.

Positive and Negative Feedback from Existing Merchants

Most merchants have positive feedback about MPI, as they value the user-friendly and versatile features it offers. Merchants frequently commend MPI for its straightforward setup procedure and the helpfulness of its support team in addressing problems. The round-the-clock customer support has been well praised, especially by businesses needing help beyond normal work hours.

Nevertheless, similar to other service providers, Mercantile Processing Inc. has also received some unfavorable feedback. A few vendors have reported sporadic technical problems, like slight delays in processing transactions or glitches in the system. While these problems are not prevalent, they do underscore the significance of ongoing technical enhancements.

Performance Metrics

In terms of performance, MPI is highly rated for its speed, reliability, and ease of use. Transactions are generally processed quickly, with minimal downtime or interruptions. The systems are also known for being reliable, which is crucial for businesses that depend on smooth and continuous payment processing. Overall, MPI delivers a solid user experience, balancing intuitive interfaces with reliable performance to meet the needs of its diverse merchant base.

Pros and Cons of Mercantile Processing Inc.

Mercantile Processing Inc. (MPI) provides numerous benefits for companies seeking trustworthy payment processing options. Still, similar to any service provider, there are areas for potential enhancements. Below is an analysis of its advantages and disadvantages, as well as a comparison to competitors in the industry.

Pros:

Strong Security Measures: MPI prioritizes data security, utilizing encryption and tokenization, and ensuring PCI DSS compliance. This focus on security provides peace of mind for businesses and their customers when handling sensitive financial data.

Scalable Solutions: MPI’s solutions can be scaled to accommodate the needs of small businesses as well as large enterprises. This level of flexibility enables businesses to select services that align with their operational requirements without having to pay for unnecessary add-ons.

Wide Range of Services: MPI offers a comprehensive suite of payment solutions, including credit card processing, POS systems, mobile payment options, e-commerce integration, ACH payments, and more. This broad portfolio makes it a one-stop-shop for businesses in various industries.

Customizable Merchant Accounts: MPI offers merchant account customization options so companies can adjust their payment processing setups based on their individual requirements.

24/7 Customer Support: The availability of round-the-clock support is another key advantage, ensuring businesses can resolve issues quickly and minimize downtime.

Cons:

Pricing Structure Transparency: One area for improvement is the transparency of MPI’s pricing structure. While MPI offers various pricing models (flat rate, interchange-plus, and tiered pricing), some merchants have reported a lack of clarity around fees, particularly related to hidden or unexpected charges.

Limited Reviews and Market Visibility: In comparison to other companies in the industry, MPI is lacking substantial customer reviews and testimonials that would offer more information about its performance. This may impede businesses seeking additional social validation prior to choosing a vendor.

Technical Glitches: Some merchants have reported occasional technical issues, such as minor transaction delays or system bugs, although these seem to be infrequent.

Competitiveness in the Market:

Mercantile Processing Inc. competes effectively with other payment processors by providing robust security measures, customizable features, and a diverse selection of services. Yet, its lack of transparency in pricing structure and minimal customer feedback slightly put it behind rivals who provide clearer fee structures and more prominent reviews. However, MPI continues to be a reliable choice for companies looking for safe and adaptable payment options.

Final Verdict

Mercantile Processing Inc. is a reliable option in the payment processing industry, providing secure and flexible solutions for small businesses and large enterprises. With versatile offerings such as POS systems and e-commerce integration, MPI is ideal for a variety of sectors. Businesses are advised to opt for customizable, secure, and reliable payment processing solutions.

FAQs

What is the fee structure of Mercantile Processing Inc.?

MPI offers a variety of pricing models, including flat rates and interchange-plus. Fees may include transaction fees, setup fees, and optional add-ons like loyalty programs, though exact pricing varies by service plan. MPI ensures transparency but encourages merchants to review all details before committing.

Does Mercantile Processing Inc. offer support for international transactions?

Yes, MPI provides global payment processing, supporting international transactions and multiple currencies, allowing businesses to expand their reach globally.

How long does it take to set up a merchant account with Mercantile Processing Inc.?

The typical onboarding process is straightforward, and most merchant accounts are set up within a few business days, depending on the business’s specific requirements and documentation needed.