Payments News

Acquiring Banks Outdo Fintechs and Big Processors in Merchant Satisfaction, J.D. Power Finds

Feb 26, 2019

For all the talk about financial-technology firms and non-bank processors encroaching on banks’ turf, acquiring banks still outdo the upstarts when it comes to having satisfied merchant customers, according to J.D. Power’s first in-depth study of the merchant-acquiring industry.

The online study of 3,500 small businesses nationwide last October and November also found that merchant acquirers’ efforts to steer the conversation away from price apparently haven’t worked. Cost of service was the most important of four factors influencing customer choice, satisfaction, and loyalty, according to J.D. Power. The other three factors in descending order were service interactions, the processing service itself, and equipment and technology.

Read the full article.