Recognized companies include Square, JPMorgan Chase, North American Bancard, Shift4, Heartland, and Shopify
The Strawhecker Group (TSG) is pleased to recognize a selection of payments companies for their exceptional start-up, small and medium-sized (SMB) eCommerce merchant experience. Read the press release.
Utilizing its Gateway Enterprise Metrics (GEM) platform, TSG assessed the experience a merchant faces when seeking the ability to accept cards online. Powered by the firm’s Market Intelligence product, TruShop*, the industry’s top providers are measured and benchmarked from the merchant’s point of view across several categories.
As consumer habits continue to evolve, more businesses are rushing to build out their online presence. From the merchant’s perspective, payments acceptance is typically an afterthought; they are seeking a quick, streamlined process to build their digital footprint and take payments with ease.
“Taking on the persona of a small business helps us guide clients to understand pain points that their prospective merchants may be facing,” says Mike Strawhecker, President of TSG. “The payments industry has adapted quickly since the pandemic and it’s a priority for our clients, especially gateways, to understand how they stack up and where improvements can be made.”
The merchant experience assessment is used to measure and rate the application and approval process, integration, and underwriting. TSG assessed nearly twenty industry-leading payments providers during October 2021 to determine the eCommerce Merchant Experience Awards.
The eCommerce Merchant Experience Awards
Ease to Launch – Square
The Ease to Launch award reflects the time, effort, and complexity for a start-up eCommerce SMB, from building its website to accepting online payments.
Square is receiving this award for the third year in a row due to its leading performance across building a website with a shopping cart, its streamlined application and underwriting process, and low estimated annual costs.
Best Sales Process – JPMorgan Chase
The Best Sales Process award encompasses the format, length, and delivery method of the merchant application, as well as underwriting scrutiny of website and company information based upon required items.
JPMorgan Chase is receiving this award due to its streamlined, low-touch online application process that ensures a smooth and quick underwriting process for SMB merchants.
Best Human Interaction – North American Bancard
The Best Human Interaction award signifies the personal interaction and responsiveness of sales individuals through email and phone conversations.
North American Bancard is receiving this award for its sales team’s knowledge and passion for payments, while being responsive to ensure a smooth experience.
*About TSG’s TruShop: TSG partners with merchants to help its clients make changes to create better experiences and solutions. By leveraging real merchant data, TruShop can reconstruct, record, and improve sales and customer interactions to help leadership craft the perfect merchant experience.
Companies and/or products considered for any TSG awards may or may not include clients of TSG and does not necessarily represent all companies or products in the market. This analysis is based upon information we consider reliable, but its accuracy and completeness cannot be guaranteed. Information provided is not all inclusive. All information listed is as available as of October 2021. The Strawhecker Group (TSG) is not and/or may not be endorsed, sponsored by, or in any other way affiliated with the any companies or their logos illustrated in this presentation. The trademarks shown are registered and their own. This document has not been prepared by any entity displayed.
The Strawhecker Group (TSG) is a globally recognized analytics and consulting firm that supports the entire payments ecosystem, serving over 1,000 clients from Fortune 500 leaders to more than a dozen of the world’s most valuable brands. Trusted by industry leaders, TSG’s strategic services, market intelligence, and analytics merge to empower clients with actionable and accessible information. Please visit www.TheStrawGroup.com.