Can Being a Payment Facilitator Increase Customer Retention?

A company is only successful if its customers are satisfied. This is why quality customer service and support are a crucial part of conducting business and maintaining customer satisfaction. This is especially true when one considers the effective, widespread communication made possible by modern technology. Running your own company and serving as a payment facilitator (payfac) puts you in the desirable position of being able to establish your own unique methods for customer service and enhance the quality of your business.

Advantages to Being a PayFac

Being a payfac means that you support your own payment processing services rather than leaning on your integrated payments partner. There are many benefits to being a payment facilitator:

• Cost effective for large businesses
• Improves fee and payment structure for both the software provider and merchant
• Allows for better rates than other payment partner structures

Benefits of Five-Star Customer Support

Showing your customers that you care and providing them with first-rate service is one sure way to increase sales for your company. Sometimes keeping a customer happy is as simple as taking their needs seriously and following up with them to ensure that their problem has been resolved.

There are numerous ways to ensure that your customer support is excellent. At Paragon Payment Solutions, our customer support staff is trained to:

• Listen
• Show that they care
• Follow-up with customer concerns
• Treat all customers with respect

According to Statistica, 60% of customers in the U.S. contacted customer service in 2017. This means it’s a good place to direct corporate energy. The key to customer service is getting creative and staying in touch with the customers that keep your business running. Make them a priority, and you will likely find that it was well worth the effort.

For more information on our partnership programs, contact Paragon Payment Solutions, your trusted payment experts.

Ready to see our API or open a test account?  Looking for more information on our Partner Programs?  Are you a merchant with a question?  We are here to help!