At Bank of Merchant, it’s our goal to make payment processing simple and easy to understand. That’s precisely why we always break everything down to the basics. This includes reporting.
With Bank of Merchant, you’ll get reports that outline everything you need to know about your transactions and your payment processing history! And you’ll also receive useful reports about customer preference and details about various trends within your operation. Armed with these detailed reports, you’re empowered to make smart decisions about your business.
Detailed Statements Each Month
Every month our merchants receive clear, thorough reported statements. Which detail everything that was processed through the payment processor during that period. This includes any charges, transactions, fees, and more. Every aspect of your payment processing is meticulously tracked and documented.
Monitor Data and Network Information
The statements merchants receive regularly also report different types of data. This might show how many customers made transactions at your business, and for how much, as well as which credit card networks they used. You can compare and contrast this information to identify the type of customers that visit your business. As a result, you can point out what network is being used the most or what style of payment is the most popular. Perhaps your customer base leans hard on mobile wallet payments. This is helpful information as you move forward with your business.
Fees and Pricing
Moreover, your statements offer a complete breakdown of the pricing for your processing services. This breakdown lists exactly how much (according to the rates and fees) you paid to the Networks for Assessment Fees which you can read about in more detail here. Or you can learn the amount you paid to the Issuing Banks for Interchange Fees which we offer a thorough explanation of on this page. Lastly, we show you how much you paid your processor – us, Bank of Merchant.
Work with Bank of Merchant
At Bank of Merchant, we assure you will always be fully aware of what you’re paying and why. In other words, our reporting system presents a clear picture of how your payment processing system works. Since there will be no confusion, all fees are accounted for and explained. If you have questions about any of the charges, transactions, or fees on your report, you can always contact us for more information.