If you are new to accepting credit cards, you might assume your bank is the best payment processing option.
After all, wouldn’t it be easier to use the same provider for merchant services as you do for your business’s bank account?
In reality, traditional banks are not built for credit card processing.
Why ISO Agents Are Better at Merchant Services Than Banks
The vast majority of banks are not direct payment processors. Many merchants don’t realize that banks hand off payment processing and merchant services to a third-party processor, which means you will be stuck with that third party’s fees, contracts, and customer service.
More often than not, the third-party processor’s services are subpar. But that doesn’t stop banks from adding additional fees on top of what the third-party processor charges.
That’s where Independent Sales Organizations (ISOs) and ISO agents like AllayPay come in. ISO agents prioritize business needs, offering lower costs and much more personalized customer service than you’d get with a bank.
Read on to learn how you can take control of your payment processing costs by going with an ISO or agent instead of a bank and why AllayPay is a superior choice.
Reason 1: Banks Charge Hidden Fees
In addition to higher processing fees to accept credit and debit card payments, banks also charge various fees for things you’ve never even heard of.
Have you ever looked at your processing statement and wondered where all your money went? Not only do banks not handle payments directly, but they also add their own markup on top of what their payment service provider charges, resulting in hidden fees with vague and confusing names.
Types Of Merchant Account Statement Fees
Some of the various fees you might see on your bank merchant services statement include:
- Batch fees
- PCI compliance fees
- Statement fees
- Miscellaneous “admin” charges (in the industry, they’re often called “junk fees”)
All while advertising transaction fees “as low as …”. Run for the hills if you ever see this language on a merchant service provider website; this wording is a red flag for high, non-transparent processing fees.
Depending on your business’s processing volume, you might be losing thousands of dollars a year just in credit card processing fees, which can severely impact your cash flow.
What’s worse is that banks make their statements so confusing with their hidden fees that you probably won’t even realize how much money you’re losing. Fee names are not standardized throughout the industry, making it nearly impossible to compare your bank’s fees with others.
If you operate a high-risk business, there’s some more bad news: your company will pay even higher processing fees to accept payments in comparison to low-risk businesses.
While higher transaction fees can’t be entirely avoided as a high-risk business, your high-risk business still deserves fairness and transparency, with no hidden fees.
A Better Option: Cut Out the Middleman

AllayPay partners directly with multiple payment networks, including high-risk payment processors, which means merchants pay no hidden bank markup. Instead, merchants receive low, transparent processing fees and straightforward statements.
If you want even lower fees, check out the Zero Cost Processing option, which can help you eliminate payment processing fees altogether by passing them to customers, letting you keep every dollar of your hard-earned sales revenue.
Reason 2: Bank Approvals Take Forever (If You Even Qualify)

Applying for a merchant account through a bank is a slow and tedious process, involving tons of paperwork and weeks of waiting, making it extremely difficult to manage your business operations in the meantime.
Bank Merchant Services Document Requirements
Here are some common documents you’ll need to apply with a traditional bank merchant service provider:
- Financial statements
- Tax returns
- Personal credit history
- Detailed business plans
- and probably more
After all that, there’s a good chance you’ll find out that your company doesn’t even qualify because you don’t meet the bank’s risk profile.
Banks & High-Risk Merchant Accounts
Banks generally favor “low-risk businesses” that exhibit flawless financials, have excellent credit, and don’t belong to a so-called “high-risk industry,” such as eCommerce, hospitality, or travel (and many, many others).
Even if you do get approved for a bank merchant account as a high-risk business, this doesn’t mean you’ll be free to accept credit cards normally, as security measures will still apply.
You will be stuck with processing limits, rolling reserves, and account holds, limiting your business’s sales to what the bank decides is appropriate.
Then comes all the added fees the bank tacks on and hopes you won’t notice (hint: it’s all in the fine print).
An Alternative: Fast & Fair Approvals with AllayPay
At AllayPay, we make the approval process for a merchant account fast, fair, and easy. That’s why we offer:
- Fast account approvals (even same-day approvals in some cases)
- Quick setup with a high-quality point of sale (POS) system
- No unnecessary restrictions or account holds
- Support for high-risk industries (including vape, CBD, adult, etc.)
- Get paid fast with next-day payments as standard
Our helpful agents will assist you if you get stuck anywhere in the application or merchant account underwriting process, ensuring that everything goes smoothly and you get up and running quickly.
Reason 3: Banks Provide Almost No Customer Support
Occasional payment processing issues are to be expected when running a small business.
Whether it’s a chargeback dispute, a system outage, a failed batch settlement, point of sale issues, or something beyond your control you will need prompt and reliable customer service from your provider.
But when you get your merchant account through a bank, if something goes wrong with your provider’s account (as it inevitably will), you’re pretty much on your own.
Bank Merchant Services = Tech Support Headaches
Unfortunately, merchants who get their payment solutions through a bank often find themselves being bounced around between departments (or between the bank and the merchant services provider) whenever they have an issue.
It takes forever to resolve any problems since everyone keeps passing the buck. There’s no accountability or sense of urgency to fix what is wrong.
Meanwhile, for every minute your payment processing system is down, your business is losing money.
If you want to run a successful enterprise, you can’t risk signing a contract with a provider that offers poor customer service.
The Solution: Dedicated Support from Real People

Here’s where AllayPay can make a major difference. We take the “services” part of “merchant services” very seriously, offering customer support agents who are dedicated to solving any payment problem you might encounter.
With AllayPay, you get:
- A dedicated account manager who knows your unique business
- Trusted support with real subject matter expertise
- Personalized help when issues arise
We know it’s not just about processing payments; it’s about having a support team behind you that cares about your business and knows how to fix problems quickly, so you can get back to running your company.
Reason 4: Banks Stick You with Outdated Technology
Banks usually offer basic card readers and not a whole lot else. Need mobile POS ordering? A cloud-based point of sale system with a reliable payment gateway? Contactless or electronic payments? Modern security features? These services probably aren’t available, and you’ll surely pay a premium if they are.
While you’re stuck with an old, less secure payment system, your competitors are using sleek, modern POS systems with built-in NFC and real-time inventory management.
Terminal Leases & Long-Term Commitment
Not only do banks limit you to outdated payment solutions, but because they also require a long-term merchant services contract (or worse, a terminal lease), you will be stuck with an antiquated system for a long time.
And if your bank does offer a terminal upgrade? You’ll have to sign a new terminal lease, which commits you to that provider for several more years.
The Solution: Smarter, Better Payment Technology

AllayPay is designed to benefit businesses, not big banks.
This means you’ll get access to some of the most state-of-the-art features available in the market:
- Advanced Point of Sale: Smart POS systems with integrated reporting and analytics (our equipment offerings include the popular Clover POS system and others)
- Integrations: Mobile payment, payment gateway, and delivery integrations
- Alternative Payment Solutions: Digital invoicing, eCheck processing, online payments, and more
- Mobile Payments: Contactless, tap-to-pay, and NFC technology
- Secure Payment Features: AI-powered security tools and chargeback protection
Instead of patching together outdated systems, you get a streamlined, modern solution that helps you scale, while serving your customers a seamless payment experience.
Bonus: No Long-Term Contracts or Sneaky Auto-Renewals
Banks and many other merchant services providers (especially high-risk providers) love locking you into lengthy contracts with difficult cancellation terms, equipment leases, and auto-renewal clauses. These fine-print traps can be hard to spot and even harder to escape once they have you in their snares.
AllayPay takes a radically different approach to high-risk payment processing contract terms.
We promise:
- No long-term contracts
- No early termination fees
- Option to purchase your equipment instead of leasing (optional merchant leasing is also available)
Why It’s Time to Take Control of Your Payment Processing

Here’s the bottom line: Using bank payment processing solutions for your business costs more than just money. It also costs you time, flexibility, support, and other forms of business efficiency.
Let’s recap:
- Banks outsource payment processing. Banks act as the middleman, outsourcing merchant services to third-party payment processors.
- Banks charge more. They add markups and bury fees in your statement.
- Banks delay everything. Approval processes are slow, and support is hard to reach.
- Banks limit your options. Outdated technology and long-term contracts keep you stuck.
Although banks aren’t the only ones who provide substandard merchant services (many merchant service providers besides banks also do these things also), banks are the worst perpetrators of expensive, low-quality merchant services.
Luckily, there’s a better way.
The Best Alternative to Bank Payment Processing: AllayPay

Whether you want to accept payments online, in person, or both, we are the best alternative to bank payment processing for businesses and the best way to save on credit card processing fees.
Why Use AllayPay to Accept Payments?
Here’s what you get when you choose us as your merchant service provider:
- Zero Cost Processing Option: aka “Free credit card processing” (you keep 100% of credit card sales)
- Advanced Technology: Smart POS, electronic payments, and mobile-friendly tools
- High-Risk Business Support: Approval for high-risk businesses that banks often reject
- High-Quality Customer Service & Support: Includes expert help and a dedicated account manager
- Transparency & Flexibility: Fair, transparent pricing and no long-term contracts
Ready to take control of your payment processing costs and stop overpaying? AllayPay makes it easy, whether you run a retail store, a service-based business, or an eCommerce company.
Next Step: Get Your Free Credit Card Processing Quote

Get your free quote today and find out how much you could be saving in credit card processing fees by switching to AllayPay.
Ready to keep more of what you earn?
Stop losing thousands every month to unnecessary fees and start doing business with a trusted partner who wants to see you win.