Birch adds lower-rate merchant services for business customers
Birch Communications is responding to small business customers' challenge of processing credit card and debit card payments with the debut of a new merchant service capability. Delivered through a partnership with Bank of America, one of its key investors, Birch can now offer its business customers a specially negotiated pricing on debit and credit card transaction processing.
Vincent Oddo, President and CEO of Birch, said that the relationship with Bank of America will help its business customers lower their operational costs with lower transaction completion rates.
"A lot of our customers are retail customers that do a lot of debit and credit card transactions and typically can't get the best rates on clearing that stuff, which has gotten more expensive in recent years," Oddo said in a previous interview with FierceTelecom. "But if they are a Birch customer through our partnership with Bank of America, we can pass along the rates we're getting that are much lower than what our customers can get on their own."
The new merchant service set is part of Birch's overall company rebranding effort called "Branch Out" that's focused on providing the necessary tools customers need to effectively expand their respective businesses.
Although the service will be available to both new and existing customers, the obvious driver for Birch here is that it creates the opportunity to upsell businesses another essential service they would use daily and thus greater customer stickiness.
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