Tuesday, January 15th, 2019
Accepting card payments can dramatically accelerate the growth of your business. Contactless payments can help your customers stop waiting for ages to be served. So, where can you get reliable payment-processing solutions for your business? If you’re interested in RMS retail merchant services, this article is for you.
RMS Retail Merchant Acquisition by TCV
Retail Merchant Services was established in 2007. Paul Bentham was the founder of the company. The aim of RMS was to deliver low-cost card processing to small businesses. With years, RMS grew into a creditworthy payment-services provider offering top-rated payment-processing options to businesses.
In February 2017, the industry heard about the acquisition of Retail Merchant Services, already an award-winning payment processor in the UK, by TCV. The latter is a leader among financing providers to growing private/public companies in the space. TCV was established in 1995.
So, Retail Merchant Services was specialized in providing affordable credit-card processing solutions, as well as guarantee the highest level of quality for credit-card terminals for small- and medium-sized businesses. Each day, thousands of card transactions were being processed through the Retail Merchant Services network in the UK. RMS members had access to affordable credit-card processing, as well as:
1. Inclusive Legal Advice
2. Inclusive Tax and VAT Investigation Insurance
3. Discounted Business Insurance
4. Discounted Telephone Services
5. Earn Revenue with Mobile e-Top-Up
According to Bentham, the acquisition of their company and the associated investment were going to support Retail Merchant Services’ next stage of growth and innovative payment-processing solutions for customers. The shareholders of RMS, such as Bentham and the managers, have reinvested alongside TCV.
Part of the transaction implied appointing John Rosenberg, general partner at TCV, as a member of the company’s board of directors. Jim Aviles, former chief operating officer of Merchant e-Solutions was to be a member as well. The investment in RMS came from TCV’s $2.5 billion growth fund.
As Retail Merchant Services noted, the most attractive things about TCV were the latter’s enormous experience in the financial technology space and the connections with the major players in the technology field all around the globe.
RMS Retail Merchant Services
No matter you’re interested in RMS or another payment-services provider, the vital thing to do is to find a reputable payment-services comparison company that can help you get the best deal for your business. Consider Best Payment Providers, a true payment expert in the UK.
Best Payment Providers is committed to offering the right merchant services that can best meet your financial needs and helping you avoid unnecessary expenses. So, with Best Payment Providers, you can be sure to get exceptional review of contracts, rates, and fees, as well as the most honest snapshot of the company at the time of writing. Consultation and advice are free.
Now, let’s look at what Best Payment Providers thinks about RMS Retail Merchant Services. Importantly, merchants can get access to an entire inventory of products and services, and enjoy the most advanced processing solutions. However, contracts with RMS are for 3 years. The early termination fee isn’t low. Besides, the company uses independent sales representatives and resellers, so there’re some complaints concerning misleading sales tactics and some hidden fees.
As you see, working with a reliable and experienced merchant-services comparison company can really be of great help when deciding on the right processor for your business.