Merchant Data Systems' Partners in Processing Program: Agent Banking
Agent Banking is an integral part of Merchant Data Systems' Partners in Processing program. Our program assists bank locations that do not currently have a viable merchant service option for their commercial banking customers. Merchant Data Systems offers a merchant service program that is seamless to banking customers.
How does Merchant Data Systems Agent Program work?
Merchant Data Systems will provide each branch with marketing materials, co-branded with your bank name and Merchant Data Systems. When an account holder expresses an interest in establishing a merchant account, the bank representative will complete a Merchant Data Systems' preliminary information form. The prospective merchant will be contacted by Merchant Data Systems immediately to arrange a time for completion of the required paperwork.
How does Merchant Data Systems service the accounts?
A relationship manager will be assigned to each bank's location. They will be the direct link between the bank and Merchant Data Systems. Their main function will be maintaining open lines of communication to all bank locations. It will be their responsibility to stock each branch with marketing materials and keep your branch managers informed of any updates or changes in our program. The role of the relationship manager is to maximize the effectiveness of our relationship, with the least amount of effort exerted by the bank and its employees. Monthly, we will provide you with a list of all the prospective merchants and the status of their accounts. You will receive monthly reporting on the activity of all merchant accounts procured by the bank's location.
What kind of compensation does the bank receive?
The bank will receive compensation for every merchant account procured, every equipment sold or leased, and every dollar processed as residual income generated by the merchant accounts. Compensation will be forwarded to the bank monthly along with detailed reporting.
How is customer service handled?
Your account holders will receive unparalleled customer service. We have the ability to answer any customer service question since we are on-line with all of our merchant accounts. We offer live customer service 24 hours a day, 365 days a year. We look forward to your bank becoming one of our Partners in Processing. Through this program, we can offer your account holders merchant services, while maintaining a level of excellence unsurpassed in the industry.