ARE YOU PAYING TO MUCH FOR CREDIT AND DEBIT CARD TRANSACTIONS!
You know how powerful a tool of accepting credit cards can be for the growth of your business. There is no need for me to say anything more than the fact that businesses that have accepted Credit and Debit Cards in the past have increased sales by 80% or more the first few months they let the public know they were accepting Credit and Debit Cards.
The cost of accepting Credit Cards and Debit Cards is minimal compared to the vast positive acceptance you can have on your profits!
The bank charges a Discount Rate based of your transaction volume of the sale amount for Retail (In Person/Swiped) Transactions. When you do not have the Credit Or Debit Card Card present or face to face, (Keyed, Phone, Mail Order or Internet) you are charged more than the swiped retail rate. Usually a Mid Qualified Rate or Non Qualified Rate applies. Today all Credit Card and Debit Card sales must be through electronic means. Electronic Terminals or Software processes the transaction and send funds directly into your bank account within hours. In addition, A transaction fee is charged for each processed transaction.
The processing bank sends a monthly statement each month showing all Merchant Account activity.
The equipment needed to process Credit and Debit Card transactions are electronic terminals or bank software programs, which can be purchased outright or on a lease purchase plan for 48 months. The equipment you need is determined by how you would accept Credit and Debit Cards in your establishment. Lease purchases can range from $19.99 to $59.99 per month. All costs are 100% tax deductible as a business expense.
Apple Pay, EMV (Smart Chip Cards), ACH/ Checks by Phone, NFC, Check/ATM Debit, Electronic Benefits Transfer (EBT), Merchant Cash Advance and Business Loan Programs, Point Of Sale Terminal Solutions, Ecommerce and Virtual Terminal, Mobile and Wireless Processing, Gift And Loyalty Cards and Check Guarantee and Conversion Services are also available.