Credit cards

I have been watching my cc fees go up. Add to that the pci compliance hassle. Does anyone have a good cc processing service?

When you take in all fees, discounts etc what is your all in discount rate on a monthly basis? What type of volume do you do?

We have a company who charges all in 1.44%.....everything...

When you take in all fees, discounts etc what is your all in discount rate on a monthly basis? What type of volume do you do?

 

We have a company who charges all in 1.44%.....everything...

Thats very low! Would it be ok if I msged you for a referral to your merchant provider?

 

Thats very low! Would it be ok if I msged you for a referral to your merchant provider?

Can you message me as well? I use Wells Fargo and paying close to $700/month

I would also appreciate a referral

Thank you.

1.44 is a great rate.

Everyone pays the same bank processing fees . What you pay above that is the secret. After two weeks researching We choose Dharma merchant services . Saved us $200 the first month we changed over merchant service. No contract check out there website

I use Royal merchant services. They are local to me here in colorado. Think I am 1.35 +.

Everyone pays the same bank processing fees . What you pay above that is the secret. After two weeks researching We choose Dharma merchant services . Saved us $200 the first month we changed over merchant service. No contract check out there website

True. We use WorldPay (First Mile). We pay a flat Fee per month ($200) no matter how many we process, then the bank fees. Have saved as much as $500 in both stores from old system (EPX)

True. We use WorldPay (First Mile). We pay a flat Fee per month ($200) no matter how many we process, then the bank fees. Have saved as much as $500 in both stores from old system (EPX)

Not true! I have been in the game almost 30 years and thought this was true. Had a close friend who did my processing at cost plus. When my current provider was referred to me I had my friend call him and find out that "catch" there was none and he told me he oculd find no reason not to go with this new company and had no idea how they could provide service below cost.

I have been with them almost 4 years and it's still 1.44% all in. Not above....I know he does this for the automotive industry only as I have wanted to refer him to others. E mail me and I will forward his info [email protected]

1.44% on all cards seems to good to be true. Many types of cards charge more than that. There are set interchange rates charged by the card companies (visa, mc, etc...) and for many types of cards it is higher than 1.44% (rewards cards, fleet cards, Amex, Disc), some are lower (debit cards and some others). Not sure how anyone could charge 1.44% all in for everything unless you are doing a whole lot more debit cards. We are doing over 10 million a year in credit cards and I have shopped many times over the last 30+ years and never seen anything that is one fixed flat rate. I have seen cost (interchange) plus plans and tiered rate plans (usually with 3-4 different rates on different types of cards). Would be interesting to see how this works.

1.44% on all cards seems to good to be true. Many types of cards charge more than that. There are set interchange rates charged by the card companies (visa, mc, etc...) and for many types of cards it is higher than 1.44% (rewards cards, fleet cards, Amex, Disc), some are lower (debit cards and some others). Not sure how anyone could charge 1.44% all in for everything unless you are doing a whole lot more debit cards. We are doing over 10 million a year in credit cards and I have shopped many times over the last 30+ years and never seen anything that is one fixed flat rate. I have seen cost (interchange) plus plans and tiered rate plans (usually with 3-4 different rates on different types of cards). Would be interesting to see how this works.

FYI: I am not in any way affiliated with any CC processor.

That being said if you've never seen it I guess it cant be true.....but....if it is.....cant I get 50% of what you save the first year?

In 2016 we paid 1.95%. 1.44% looks pretty good. Would save us about $400 a month. I'll email you Dave.

 

FYI: I am not in any way affiliated with any CC processor.

 

That being said if you've never seen it I guess it cant be true.....but....if it is.....cant I get 50% of what you save the first year?

Not saying it is not true, just saying I have never seen anything like it. Would like to see a statement or contract that showed how it worked. Is that your average rate or fixed rate for all cards processed? Do they charge the same for Amex, & Discover? What about debit cards, are they the same?

Not saying it is not true, just saying I have never seen anything like it. Would like to see a statement or contract that showed how it worked. Is that your average rate or fixed rate for all cards processed? Do they charge the same for Amex, & Discover? What about debit cards, are they the same?

So no 50%.... sigh........ e mail me

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A girl called me yesterday, made an appt. for today and came to see me. So I listened to her as I'm going to change my processor by March 31( my self-imposed deadline.) She told me that she (the company she works for) will process ALL my credit cards for 1 %, and process ALL my debit cards (Pin #) for 0%. Will charge me $129 per month for machine, plus a $31 fee, and that's it. *** She did say that AMEX is 1.77%. Others are 1% and 0 for debit cards.

I'm going to call some of her referrals and check her out. She's local and works out of an office 30 mins. from my shop.

Have any of you EVER heard of a processor this cheap? Any recommendations of what I should look for or questions I should ask her??

Thank you in advance!!

Hi-Gear

A girl called me yesterday, made an appt. for today and came to see me. So I listened to her as I'm going to change my processor by March 31( my self-imposed deadline.) She told me that she (the company she works for) will process ALL my credit cards for 1 %, and process ALL my debit cards (Pin #) for 0%. Will charge me $129 per month for machine, plus a $31 fee, and that's it. *** She did say that AMEX is 1.77%. Others are 1% and 0 for debit cards.

 

I'm going to call some of her referrals and check her out. She's local and works out of an office 30 mins. from my shop.

 

Have any of you EVER heard of a processor this cheap? Any recommendations of what I should look for or questions I should ask her??

 

Thank you in advance!!

 

Hi-Gear

Haven't heard that one. Visa/MC interchange rates are higher than 1% and I don't know of a way to get around them, unless she is saying she will charge you 1% on top of the interchange rates. $129 per month for a machine is expensive, Most lease rates are in the $30-45 range and the cost to buy outright maybe in the $400-$800 range depending on the machine. If you aren't doing a lot of volume, maybe the extra that is being charged for the machine and the monthly fee makes up for what would be lost on the interchange rates. They seem to be always trying to come up with a way to say and do things to make it look cheaper than what you have. I wouldn't change processors without seeing a comparison based on my current statement and an explanation of exactly how they get to their price based on my statements transactions. Also I wouldn't go into any kind of contract without being able to get out, if what they say doesn't pan out in the first month or two. One problem we had when changing processors once, was not getting out of our contract with the processor, but getting out of an equipment lease early, as these are usually done through a leasing company and done on a 36 or 60 month term with automatic renewals. Lots of things to check into when making a change, seem to learn something new every time we change.

A girl called me yesterday, made an appt. for today and came to see me. So I listened to her as I'm going to change my processor by March 31( my self-imposed deadline.) She told me that she (the company she works for) will process ALL my credit cards for 1 %, and process ALL my debit cards (Pin #) for 0%. Will charge me $129 per month for machine, plus a $31 fee, and that's it. *** She did say that AMEX is 1.77%. Others are 1% and 0 for debit cards.

 

I'm going to call some of her referrals and check her out. She's local and works out of an office 30 mins. from my shop.

 

Have any of you EVER heard of a processor this cheap? Any recommendations of what I should look for or questions I should ask her??

 

Thank you in advance!!

 

Hi-Gear

$129 is really expensive for the lease and that is probably where they are making up the difference. I pay $29 each a month for my machines and they are new.

I have learned that these middleman process companies can be very decieving. We switched to "Retreiver" recenlty. Rep is Jason Woodward. He has signed up

hundreds of Tire Pros dealers in last couple of years. They are a "direct processor" No middleman. Analysis said they will save is about $503 per month from our $4k bill.