Following are key findings of the 2024 study: Credit and debit reign supreme on usage, but fail to deliver on satisfaction: Overall, 94% of small businesses accept debit or credit card payments. Most merchants have their credit card (81%) and debit card (80%) payments processed by their provider. Despite being the most processed forms of payment, overall merchant services satisfaction scores are lowest across all aspects of the customer experience among small businesses that have credit cards (692 on a 1,000-point scale) and debit cards (694) p ...
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Following are key findings of the 2023 study: Overall satisfaction falls, driven by cost and fees: Overall small business satisfaction with merchant services providers is 853 (on a 1,000-point scale), down 6 points from 2022. The decline is driven largely by lower satisfaction with cost of service, which accounts for 30% of the overall satisfaction score. On a bright note, businesses that use in-person mobile devices have faster account funding and significantly higher cost of service satisfaction than in 2022. ...
Following are key findings of the 2022 study: Overall satisfaction surges, led by big banks: Overall small business satisfaction with merchant services providers is 859 (on a 1,000-point scale), up a significant 23 points from 2021. The top two performers in the study—Bank of America and Chase Merchant Services—have notable gains this year, with Bank of America increasing 45 points and Chase rising 35 points from last year’s study. Simplified fee structures and better customer support drive gains: This year’s significant increases in ov ...
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