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Hi, I am looking for a competitive Merchant Account. Currently we use CardServiceIntl but they raised our discount rates this month. Thanks for any suggestions. BTW I already tried the local bank years ago and they were not interested in internet only sales.
We've got an extensive list of payment solutions and providers in ECommerce Guide's Products & Services finder:
http://products.ecommerce-guide.com/...e/recent1.html
Another great resource for finding merchant providers is MerchantWorkz (http://www.merchantworkz.com/), which lists providers, fees and services, offers a rates comparison chart and lists international providers.
I have done some checking this week but have not come up with anything solid as to better rates.
What I need to know, is is it true that INDUSTRY RATES for INTERNET MERCHANTS have increased this year? This is the line I am getting. Is it true? Thanks in advance.
Merchant Services Industry News 04/08/04
The Patriot Act, Wal-Mart Litigation and its impact on the interchange structure from Visa and MasterCard, including various debit networks have initiated historic changes in the bankcard industry. In response to their respective outcomes Business Payment Systems NC must continue to remain competitive while still properly disclosing all fees to our merchants and customers. As a result of these changes Business Payment Systems NC will continue to provide services that best meet our merchants needs while enhancing the opportunities for our clients to remain at the lowest pricing possible.
What are the changes made as a result of Visa and MasterCard and the Wal-Mart settlement of Aug. 2003?
1). MC and Visa implemented an 11 basis point increase on Retail/Restaurant credit transactions for all merchants.
2). MC and Visa implemented a 5-20 basis point increase on corporate non-qualified transactions for all merchants.
3). There is now a pricing difference between a debit card that is processed with a pin number and a debit card that is processed as a credit card (without a pin number, called “offline debit”). For those that may be unclear, offline/signature debit is a bankcard, debit card, or a check card that is processed with out the cardholder entering his/her pin number. Until now, this type of transaction has been processed at a higher credit card rate by most processors. According to a recent Visa publication, offline/signature debit transactions represent as much as 50% of the transactions and 30-40% of the processing volume that a merchant processes. By the end of 2005, they project the volume of offline/signature debit card transactions to surpass credit card transactions!
WebSurf Financial Solutions and our sister company Business Payment Systems NC’s goal is to keep pricing very competitive in order to give us the best opportunity to have increased flexibility with our merchant customers. This has been accomplished with the creation of a 3 tier Offline Debit pricing structure. (The three tiers are qualified, mid-qualified, and non-qualified).
How is our pricing structured affected?
• We can now offer our merchants VERY low offline/signature debit rates both on MOTO and Retail type 1 and type 4 accounts.
• Retail/Restaurant credit card discount rate is increasing on swiped/qualified transactions on a pass through only. (meaning we are not increasing margins to make up for higher buy rates)
• Our MOTO/Internet credit card discount rate is NOT increasing!
• Unlike the rest of the industry, our mid/non-qualified rates are NOT increasing!
• The EBT transaction fee has been lowered significantly with us!
• Our Online Access Fee has been reduced as well.
What is the rest of the industry doing?
We have heard that most processors are increasing the swipe rate, the mid and non-qualified rates and tacking on additional fees to make up for the loss in margins. We have heard that some processors will not be listing the Offline/Signature debit fees separately for a long time, if ever. This allows the processor to increase the cost to the merchant with out them even being aware that they could be saving up to 80 basis points depending on their current processing rates on 50% or more of their transactions.
A few last points to consider:
• Offline/Signature debit is a fantastic way for you to save money with a lower average ticket. Once you do the math this will be very obvious.
• Consider where your processing dollars are going… if it is not to your bottom line start looking elsewhere.
• Look for the processor that is willing to fully disclose all the fees, this places you at an advantage when it comes to savings.
• No new equipment is needed unless that equipment can not truncate or you just want the latest technologies.
WebSurf Financial Solutions and Business Payment Systems, NC, provides low cost credit card processing to insure a more profitable business. This is the first place to start when trying to increase the profitability for your business! You probably have not thought about your credit card processing since that first day you opened your doors, but you could be wasting significant money on inflated processing rates.
Often processing statements are so difficult to read that it is practically impossible to figure out how much you are really paying. Low cost and efficient credit card processing is the basic building block in running a more successful operation. Choosing the right organization is almost as important as the rate you pay. We are the most competitive because we want you to be with us for the long term. With a focus on your business we constantly strive to offer you the latest technologies, but only if they make sense for your business. Our rates are the most competitive and our integrity and product knowledge is second to none. As an AASP you will receive even greater discounts and or have fees waived entirely. Feel free to call on us at 919-954-1199 or visit us on the web at either www.websurfsolutions.com or mid April at www.joinbpsnow.com.
Give me a call or drop me an email at [email protected] You will be glad you did. Read our informational post above, we really do do our best to get you the lowest rates. No games just great service.
Merchant accounts are sold by hundreds of companies.
easycart.com
quickcart.com
ultracart.com
miva.com
www.ikobo.com
ikobo will cost you minimum.
Please, contact me on [email protected] and I will do my best to help you with your online payment needs.
Hope to hear from you soon.
Julia
I recommend looking at www.CDGCommerce.com
They are small which allows them to give you the
personal attention you might need.
You pay nothing for the authorize net account.
So you can easily bill your clients via the web interface, if needed.