“Finally!  Someone who has payment systems expertise, can negotiate the best rates, and audits merchant statements to ensure accuracy . . . all while providing considerable savings to our merchants! Wimsett & Company is just the solution we have been looking for to support our business banking customers.  The money they have put back into our merchant’s pockets has exceeded our expectations in every case.  I wonder how much money they can save you?”

Michael D Traveller-Senior Vice President, Controller- First Federal Savings Bank

 

Let us help your institution craft the perfect Merchant Services Program.

Banks & Credit Unions  CPA

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Banks & Credit Unions

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At Wimsett & Company, we know that every financial institution has different goals and strategies for achieving them.  That is why we make it our number one priority to thoroughly discuss, evaluate, and understand the goals of your institution. With this knowledge, we help organizations achieve their goals by providing our expertise to improve the institutions current merchant services program or by customizing a brand new program to fit the unique needs of your customers.

Attrition Rate

Client renewal rates for our consulting services exceed 90% which is unheard of in the merchant processing industry.  Banks, ISOs, and  and many processors typically experience 20-25% attrition in their merchant base each year.  We are in regular contact with clients to ensure satisfaction and we consistently receive positive feedback, outstanding reviews, and new customer referrals.


Merchant Acquiring Program Reviews

This program was designed for larger financial institutions that already have a significant merchant acquiring program in place.

Our extensive industry experience in merchant processing and payment acceptance allows us to maximize a merchant services program to best meet your strategic and financial needs.  We have deep expertise in a number of operational and functional areas as well as many segments and business models within the merchant processing industry.

Program Review & Readiness Assessment

The first aspect of our services includes a detailed analysis of your existing merchant acquiring program. In addition, we assist the institution in producing clearly stated objectives for their program or a new program going forward.

RFP & Selection Process

The second aspect of our service is to lead a broad and robust RFP process.  We believe it is very valuable to engage in a structured, third party RFP process even if your primary objective is to simply negotiate the best deal possible with your current provider.

Supplemental Program Management Services

Wimsett & Company can also provide transitional and on-going program management services.  The program support which may be needed is dependent upon the decisions and direction taken during the RFP & Selection Process. These services, if needed, typically involve some form of analytical, strategic, or program oversight and assistance. Wimsett & Company and our entire staff have deep knowledge and expertise in multiple areas of merchant processing and payment acceptance including strategy, sales, sales management, product, risk, operations, financial reporting, pricing and portfolio analysis, mergers and acquisitions, and many, many more.

Acquiring Program Reivews and Managed Services information sheet

Acquiring Program Reviews & Managed Services

 

 

Merchant’s PACT Partnership

This program was designed for banks that are frustrated by traditional merchant services programs.

Revolutionize your merchant services program with our experts and new business model.  With our unique approach, your bank will have business clients who save money, remain loyal, and borrow more money from your bank.  With Wimsett & Company, your bank’s merchant services program will shine against the competition.

A merchant services partnership can either be a value added benefit or a source of potential reputational damage.  Our philosophy about banks is that their core revenue generating mechanism is providing loans and gathering core deposits.  If a bank loses 20-25% of their merchant clients each year (the typical attrition for merchant service programs for small and medium sized businesses) due to increased rates or substandard service, the bank may be damaging their reputation and losing potential lending opportunities with these clients. In order for banks to reap the benefits of lending and low cost deposits, they must provide the best services and value added benefits to their clients.

Merchant’s PACT partnership program provides banks the opportunity to maximize their small business relationships while minimizing any potential reputational damage.

Benefits for Your Bank:

  • Minimize merchant services program attrition
  • Make more loans by retaining more clients and ensuring they are treated fairly
  • Gather more core deposits
  • Double your client success rates compared to industry averages
  • Provide your business clients with experts to help manage their payment card processing
  • Provide your business clients access to the lowest payment card processing rates in the country, direct from the core processors
  • Deliver tremendous peace of mind to your business clients because we audit the payment company billings each quarter for every client
  • Uphold and protect your bank’s reputation through our model, as we assure your business clients are treated fairly and consistently

Benefits for Your Business Clients:

  • Improved profitability– Our experts negotiate the best pricing and terms for payment card processing.
  • Peace of mind– Our experts provide POS payment system technology expertise.
  • Personalized auditing and service– Our experts audit payment company billings to validate fees and detect errors.
  • Time to focus on your business– Our experts manage their payment card processing relationship so they can focus on their business.

Merchant’s PACT information sheet

Merchant's PACT sheet

CPA

A merchant service program provides an opportunity to offer your clients the best service and rates on their payment acceptance. Referring Wimsett & Company will ensure your clients success as well as provide you with an additional revenue source.

Merchant’s PACT Partnership

Benefits for Your Business Clients:

  • Improved profitability– Our experts negotiate the best pricing and terms for payment card processing.
  • Peace of mind– Our experts provide POS payment system technology expertise.
  • Personalized auditing and service– Our experts audit payment company billings to validate fees and detect errors.
  • Time to focus on your business– Our experts manage their payment card processing relationship so they can focus on their business.