What Do Franchises Need from a Payment Processor?

There’s more to merchant services than just accepting credit card payments. Here’s how to figure out your own priorities as you look for a vendor.

- By Stephanie Schomer

Fifteen years ago, Tom Epstein launched Franchise Payments Network for one simple reason: He didn’t see any vendors catering to the franchising industry. “Franchises are all about creating consistency for the customer, but we didn’t see anyone offering that to the actual franchise systems,” Epstein says. Over the past decade and a half, he’s seen the franchise world grow, evolve, and adopt new technology—but he still sees franchisors and franchisees underestimating the importance of finding the right payment processor. Here are five things to remember as you vet your options.

1/ Create consistency.