Small Businesses Dissatisfied With Credit Card Processors

CHICAGO, IL, Aug 28 (MARKET WIRE) --
A new survey shows small businesses are dissatisfied with their credit
card processing arrangements. Transparent Financial Services (TransFS),
operator of the only comparison shopping website for business financial
services, today released the results of a survey that indicates many small
businesses have little trust or loyalty to their credit card processor
(also known as a merchant account provider). Major findings of the
survey
include:

-- 33% of respondents say they have "Very Little" loyalty to their credit
card processor / merchant account provider
-- 25% reported having "Little" loyalty, while 26% reporting "Some"
-- Only 16% report having "Lots" of loyalty to their credit card
processor
-- 40% would require less than $50 / month savings to switch to another
processor / merchant account provider

The respondents of the survey indicated as reasons for their
dissatisfaction: "hidden costs and fees," "high costs," "poor customer
service" and "unforeseen rate increases."

The survey was drawn from a MarketTools / Zoomerang random sample of small
business owners and was completed by 283 respondents. Respondents included
a wide sample of small businesses, including those ranging in size from 1
to 40 employees, those focused on selling to consumers as well as those
selling to other businesses, and those providing products and services on
the internet as well as those providing products and services in person
and multi-channel businesses.

Quote, attributable to Sean Harper, Co-Founder, Transparent Financial
Services:

"It's not surprising that small businesses are not very loyal to their
credit card processors because most business owners perceive credit card
processing as a commodity. Additionally, there is a lot of confusion over
the pricing, which can be frustrating."

About Transparent Financial Services

Transparent Financial Services (TransFS) is a Financial Services
Comparison Shopping business that uses technology to help business owners
select the best credit card processing, business insurance, business
credit cards and business banking providers. TransFS evens the playing
field for small business owners using instant reverse auctions to quickly
negotiate better deals, automated bill analysis software to identify
unnecessary or undisclosed fees, and an online ratings and reputation
system to determine the highest quality service providers. Based in
Chicago, IL, TransFS can be found at http://transfs.com and the free
credit card processing calculator is available at
http://transfs.com/credit-card-processing-calculator.

Contact:
Sean Harper
Transparent Financial Services
(877) 890-1170
Email Contact
http://transfs.com

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