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Owning a laundromat is simpler than many other types of businesses; your greatest responsibilities will be keeping track of your financials, managing customers, and maintaining your equipment. But don’t let the ease of running a laundromat tempt you into becoming an absentee manager, in which case, your business will suffer as a result.

Merchant One has a number of features that help it stand out from its numerous competitors in the merchant services industry. However, the company’s standard three-year contract and the potentially expensive early termination fee that comes with it are not so great.

Does Electronic Merchant Systems offer everything you need for your small business? Possibly, but it comes at a high cost. Unless you’re prepared to negotiate aggressively on your own behalf, you’ll probably pay more than you need to. Read our review to see why you should look elsewhere.

Reliant Funding is an alternative business funder that provides short-term loans and merchant cash advances (MCAs). There is no credit rating requirement to access its loans. Be cautious of Reliant’s transparency regarding its terms and fees.

As with so many other merchant services providers, Payroc has a few nice features, such as a robust lineup of products and services, including EMV-compliant mobile processing solutions. At the same time, it still includes a very lengthy contract term. Its hefty early termination fee has generated significant criticism among merchants.

In May 2019, Global Payments, another very large direct processor from Georgia, announced that it was acquiring TSYS for $21.5 billion. The combined organization will operate under the Global Payments brand name, and the TSYS name will eventually disappear. However, mergers of this size take a long time to complete, and as of May 2020, TSYS still has its own website, which lists the company as ‘TSYS – A Global Payments Company.’ We haven’t received any indication of how Global Payments plans to transition existing TSYS customers into its system, but we expect that you will probably be switched over to a Global Payments contract at some point. If you’re a merchant looking for a new provider, now is not the time to sign up with TSYS.

Pros No application or account setup fees Month-to-month contracts with no early termination fee Interchange-plus or subscription-based pricing available Offers EMV & NFC Bluetooth-connected mobile card reader Cons Minimal pricing disclosures Relatively new company What Is ProMerchant? Founded in 2018, Boston-based ProMerchant is the brainchild of several former executives from other merchant account providers. This […]

If you’ve been searching the internet for information about equipment leasing, you’ve probably run into a wall of industry jargon. Between captive lessors, capital leases, equipment financing agreements, and references to Section 179, the terminology can get pretty opaque. This is especially true when it comes to TRAC leases. If you’ve ever wondered what the TRAC lease is, how it works, or even just what the acronym stands for, you’ve come to the right place.

To avoid merchant processing agreement auto-renewals be sure to read your merchant processing agreement before signing. It’s possible to negotiate an auto-renewal clause out of your merchant agreement. Additionally, you may consider merchant service providers with month-to-month or pay-as-you go billing options.

Commercial truck insurance is a grouping of specific insurance policies that cover various possible losses and accidents while a truck is used for business-related purposes (with the exception of bobtail insurance). The Federal Motor Carrier Safety Administration expects you to have $750,000 in primary liability coverage at the bare minimum.