How to Set Up Merchant Services for Your Business
November 24, 2025
How do you Gain Control of Payments?
Whether you’re a small brick-and-mortar shop, an online e-commerce business, or a hybrid of both, setting up merchant services is one of the foundational steps to achieving smooth, efficient operations and cost control. At Finix, we believe that merchants deserve transparency, control, and a payment solution that works for them and not one where they’re locked into layers of middlemen and markup fees. With the proper setup, you can start accepting payments quickly, reduce costs, enhance the customer experience, and get paid faster.
TL;DR:
In this blog, we will walk you through:
The main questions to ask when choosing merchant services infrastructure
How the process of setting up merchant services works (from onboarding through go‑live)
How to pick a partner who gives you simplicity, transparency, and flexibility
Why Finix’s model stands out (and how that benefits your business)
A step‑by‑step checklist of actions you can take now
1. Ask the right questions up front
Before you sign up with a payments provider or merchant‑services partner, you should ask:
What fees will I pay? Is it a flat percentage of each transaction, a monthly minimum, or a hidden markup on interchange?
Who is the acquirer/processor, and how many layers of intermediaries are involved? The more layers, the more places markup and complexity can creep in.
How quickly can I go live, with in-person terminals, online checkout, or both? Does the solution support both in-store and online transactions with a single integration or provider?
How flexible is integration? Do I need to be a developer? Is there a no‑code or low‑code option if I’m a smaller business with limited technical resources?
What control will I have over reports, payouts, device deployment, terminals, and dashboards? Can I track costs, decline rates, settlements, and other relevant information?
What support will I get: onboarding, terminals, and ongoing service? How responsive is the service when something goes wrong?
Does the provider support the kinds of payments my business needs (in‑store, online, mobile, payment links, invoicing)?
How simple is the pricing? Are there surprises when interchange or network fees change?
If you find a partner that gives straightforward answers to these questions, with minimal layers, transparent pricing, and a simple go‑live path, you’re on your way to a strong merchant services setup.
2. Understanding the process: from onboarding to go‑live
Here’s a typical flow when setting up merchant services. We’ll also highlight how Finix’s model simplifies many of these steps:
a. Application. You provide business details, ownership, bank account, etc. At Finix, we emphasize that even small businesses and mid‑market firms are supported; you don’t have to be enterprise‑sized.
b. Underwriting & risk checks. This is where KYC (Know Your Customer), merchant history checks, bank account verification, industry risk assessments, web‑presence checks, and PCI compliance level evaluation all come into play.
c. Device/terminal or integration setup. If you’re in‑person, you’ll need devices/terminals. If you’re online, you’ll need checkout pages, APIs, and links. Finix supports both in‑person and online under one roof.
d. Pricing and contract. Review how you’ll be charged, and what commitments are required. At Finix, you’ll find transparent pricing and no long‑term contracts required.
e. Go live. Transactions begin flowing, your dashboard activates, and you can monitor settlement, reporting, and payouts. Finix offers real‑time reporting and detailed dashboards.
f. Ongoing management. Monitor chargebacks/disputes, reconcile, and adjust fees or device deployments as needed. Finix’s dashboard gives visibility down to the transaction level.
Thinking about switching your payment provider? Talk to Finix today, book a time, and understand your actual cost of payments, and see how you can start saving.
3. Why the right partner makes all the difference
Choosing the right payments partner is about more than just transaction fees. It’s about how the infrastructure supports your business now and scales as your business grows. Here’s how Finix differentiates in the market (based on internal value‑props we’re pursuing) and what that means for you:
a. Significant cost savings (~30 – 40 %). Because Finix removes multiple layers of the acquiring stack and intermediaries, we can pass on deeper savings. Your business keeps more of the revenue. (Internal note: “we remove 3+ layers… resulting in higher profits for merchants.”)
b. Transparent, predictable pricing. Not buried fees or interchange markups you don’t understand. At Finix, you clearly see the interchange cost and only pay what the provider controls. (Internal note: “Transparent pricing: we clearly explain interchange costs and only charge the amount we can control.”)
c. End‑to‑end ownership & control via direct acquirer model. Finix acts as the acquirer/processor, not just a middle layer. That means we control onboarding, device provisioning, support, and reporting. For you, that means fewer handoffs, fewer hidden fees, and more responsive service.
d. Technology & platform advantages: no‑code / low‑code, one platform for online + in‑store. Many small to mid-sized businesses don’t have large development teams. At Finix, you have options: no‑code/low‑code integration, a comprehensive platform, and real‑time dashboards. (Internal note: “No code, low code (API is straightforward and no technical knowledge) …” )
e. Superior support & service. Not all providers treat small businesses with the same care as large ones. Finix offers personalized support, including dedicated account management (for merchants), and next‑day payouts for card transactions.
f. Focus on small & mid‑business, not just enterprise. Many providers focus on large enterprises or lock in via complex contracts. Finix targets SMB and mid-market merchants, providing them with access to advanced infrastructure at a more affordable price point.
g. Analytics, insights, reporting. Being able to see exactly what you’re paying, what you can optimize, and where you have cost leakage is critical. Finix’s dashboards give that visibility.
4. Setting up merchant services for your business — step‑by‑step checklist
Here’s a practical checklist you can follow:
Define your payment needs.
In‑store terminal? Online checkout? Mixed? Payment links/invoicing?
What volumes do you expect? What devices will you use (countertop, mobile, kiosk)?
Are you targeting growth into new channels (mobile pay, subscriptions, recurring)?
Gather business details.
Business registration, ownership information, bank account details, and tax ID.
Prepare for KYC and underwriting checks.
Select your merchant services partner based on criteria.
Transparent pricing (interchange + markup or subscription + minimal markup).
Direct acquirer/processor vs stacking multiple intermediaries.
Integration simplicity (no‑code/low‑code if needed).
Device options and fast deployment for in-person use.
Single platform for both in‑store and online (so you don’t have to lock into one channel).
Dashboard & reporting transparency.
Responsive support and next‑day payouts.
Begin onboarding.
Complete the application.
Go through underwriting, KYC. For example, with Finix, the onboarding process can be streamlined via automated workflows.
While you wait for approval, arrange your device or access your API/checkout flow.
Integrate your solution.
If in-store: deploy your terminal(s) and configure devices.
If online: integrate via API or embed a payment link or checkout page. Finix supports no‑code/low‑code options.
Test your system, simulate transactions, and verify that settlement and payouts are correctly configured.
Go live & monitor.
Start accepting real transactions.
Access your dashboard to monitor authorizations, declines, settlements, and disputes. Finix gives complete visibility down to the transaction level.
Ensure your payout schedule is working. Finix supports next‑day card payouts and fast settlements.
Optimize your payments workflow.
Analyze your cost: Are you paying hidden markups? Are your decline rates too high?
Measure your cash flow: faster access to funds improves business flexibility.
Review device use: Are you using the right form factor (mobile, kiosk, counter)? Finix recently expanded its hardware options, including portable mobile terminals.
Ensure you’re leveraging data effectively: utilize your dashboard insights to identify trends, disputes, and cost leaks.
Ready to get started? Request your Finix sandbox and schedule a walk‑through to see how your payment setup could be live within days, not weeks.
5. Real‑world scenario: a small business looking for a simple solution
Let’s say you run a small bakeshop in your community and you want to start accepting in‑store payments and add an online ordering option. You don’t have a big development team, you want something simple, affordable, and with no complicated long‑term lock‑in.
Here’s how you proceed:
Choose a provider that offers no‑code or low‑code integration. At Finix, you can accept payments quickly without incurring significant development work. (Internal note: “No code, low code (API is straightforward and no technical knowledge).”)
Pick a terminal device (for example, a countertop or mobile terminal) that can be deployed the same day your agreement is signed (Finix offers immediate access to devices).
Use a single platform for both in-store and online operations, eliminating the need to manage two separate systems. With Finix, you can deploy both online and in person via the same payments partner.
Understand your cost structure: with Finix, you can expect savings of ~30‑40% compared to traditional processors because you are eliminating middleman layers and paying only the interchange you should be paying.
Use the dashboard to track your progress, including the number of payments accepted and declined, the total fees paid, and the settlement timing.
If you expand later (for example, by adding a curbside mobile terminal or payments via a payment link), the same platform can support your growth.
This approach keeps things simple, transparent, and accessible, exactly what smaller businesses need to focus on growth rather than wrestling with payment infrastructure.
6. Common pitfalls and how to avoid them
Here are some common mistakes businesses make when setting up merchant services, along with tips on how to avoid them.
Signing up for flat‑rate pricing without understanding the actual cost. Many providers charge 2.9% plus a fixed fee for every transaction; for higher volumes, this can be far more expensive than an interchange-plus or subscription model. At Finix, transparent pricing helps you avoid overpaying.
Underestimating the importance of device deployment and support. If you’re in‑store and your terminal arrives late, or support is weak, you lose sales. Choose a provider that offers immediate device access and good service. Finix positions itself as a controller of onboarding, device deployment, and support.
Using multiple providers for in‑store and online separately. This can lead to fragmented reporting, differing cost structures, and increased complexity. Choose a partner that supports both channels in one.
Ignoring reporting, analytics, and cash‑flow speed. It’s not just about processing payments; it’s about how fast you get your funds, how well you understand fees, and how responsive your partner is. Finix’s dashboard and payout structure help address this.
Neglecting growth and scalability. A provider that works well at low volume may fail as you grow. Choose a partner built to scale while remaining accessible to small/mid businesses. Finix supports businesses of all sizes.
Why now is the right time
The payments landscape is evolving rapidly. Merchants who delay upgrading their payment infrastructure risk missing out on significant opportunities, including faster settlement, new payment methods, enhanced analytics, and simplified integrations. By partnering directly with the right payment provider today, businesses can position themselves to capitalize on these opportunities quickly, avoiding the inefficiencies of traditional, multi-layered processing models.
Increasingly, merchants are seeking direct, transparent relationships with their payment processors. Traditional systems often involve multiple intermediaries, such as ISOs, acquiring banks, and gateways, resulting in opaque pricing, delayed access to funds, and fragmented reporting. Today, merchants expect real-time dashboards, transparent and predictable pricing, and fewer intermediaries, all of which are central to the value of a direct merchant relationship.
Want to see your actual cost of payments, get control over your merchant services, and save while you grow? Schedule a demo with Finix