Leaders Merchant Services

• Simple Application Process with No Start-Up Fees
• Variety of POS Equipment Options
• Several Accepted Transaction Types
• Additional Services
• Pricing

Simple Application Process with No Start-Up Fees

Leaders Merchant Services provides a simple online application process, making it quick and easy to sign up for a new merchant account. Additionally, the payment processing service does not charge any start-up fees to open an account, which helps customers to save money right off the bat. 

Variety of POS Equipment Options

Leaders Merchant Services offers a wide variety of credit and debit card processing equipment, including pin pad EMV-ready machines, mobile/wireless machines, virtual terminals through Authorize.net, shopping cart solutions, check readers, and check imagers. 

The payment processor also offers a full line of Clover point-of-sale equipment, including the Clover Station, the Clover Mini, the Clover Mobile, the Clover Flex, and the Clover Go. Clover's integrated suite of POS products replaces the cash register, payment terminal, receipt printer, and barcode scanner, making it simple to streamline the workload. 

Leaders Merchant Services handles all of its equipment sales and rentals in-house, so no matter how you want to accept credit and debit card payments (retail, restaurant, mail/telephone order, wireless, e-commerce, etc.), the company can customize a program to meet the needs of your business. 

Several Accepted Transaction Types

Through Leaders Merchant Services, businesses can accept several transaction types, including the following: 

• EMV (Europay MasterCard and Visa) transactions — EMV is the new global standard for secure card payments; EMV Credit and Debit cards contain a computer chip that is used to authenticate an EMV card transaction.
• NFC (Near Field Communications) transactions — With the proper equipment, businesses can accept payments from customers who use digital wallets such as Apple Pay, Samsung Pay, and Android Pay.
• Visa, MasterCard, AMEX and Discover debit and credit card transactions — These transactions can be accepted in many forms, including in person (swiped, EMV, or NFC), through the Internet, and by phone.
• Signature debit card and PIN-based card transactions — The most widely used forms of payment, these transactions have the lowest risk of chargeback and are particularly convenient for customers.

Additional Services

Leaders Merchant Services offers a robust selection of features that add value to its payment solution including the following: 

• Merchant Cash Advance (MCA) — Through this program, customers who have been in business for as little as six months can receive funding fast. The funding amount is based on future sales and is repaid with a small percentage of credit card sales.
• Business Loan — Customers can receive funding based on future sales. Loans provide the lowest possible rates and come with multiple term options.
• Instant Accept — This feature gives merchants who use QuickBooks immediate access from anywhere with an Internet connection to complete customer and transaction information without actually having to launch the QuickBooks application.
• Stamp Me Loyalty Card Application — This electronic loyalty card app rewards customers with loyalty solutions such as simple memberships, VIP discount clubs, and mobile stamp loyalty cards.
• SimplyPaid — This option allows merchants to convert all of their employees to direct deposit-regardless of whether or not they have a bank account. In addition to saving time and money while eliminating administrative costs that come with paper checks, SimplyPaid also helps minimize exposure to paycheck fraud.
• Open Dining Network — This feature engages customers and allows them to make orders via smartphone. It also allows merchants to collect email addresses through the built-in marketing system.
• iAccess — This reporting tool allows merchants to view their account activity, including individual transactions, batch totals, recent monthly statements, and deposit history, around the clock. The first month is free.

Pricing

While the starting monthly fee and transaction fee are not displayed on the corporate website, Leaders Merchant Services demonstrates its confidence in its low rates by offering a $500 assurance program that caters to business owners who are already processing credit cards with another provider. 

Through this program, merchants simply send the company their two most recent credit card processing statements. Leaders Merchant Services will then analyze them and provide the merchants with a side-by-side comparison of what the merchants are currently paying vs. what they would be paying with Leaders, including rates and fees. 

If the company cannot show savings, it will pay the merchant $500. 

• Early Cancellation Fee
• Excluded Businesses

Early Cancellation Fee

Leaders Merchant Services offers a standard industry contract of three years for its payment processing services, but it automatically renews at its expiration unless the customer has provided proper notification of cancellation. 

Merchants who choose to terminate the contract early will be subject to a termination fee of $250 to $350, depending on how far into the contract they are. 

However, the company has stated that this fee can typically be negotiated before the contract is signed, so individuals who are concerned about early cancellation should contact the company for more information. 

Excluded Businesses

Leaders Merchant Services does not offer service for the following business types: 

• Non-retail gun sales
• Marijuana-related goods and services
• Pornography-related goods and services
• Travel
• Third-party billing services