Merchant Services Options
Merchant Services are what the banks call credit card processing (and debit card processing, etc).
We are currently looking at two options:
TotalmerchantConcepts.com
This is the outfit that is hooked up with our new credit union.
From Cheri at TotalMerchantConcepts dot com (see email to C7 on June 23, 2006).
Richard,
What type of equipment do you currently own? If you let me know the make and model number, I can let you know if we can use the equipment.
For pricing, it varies based on how you process the credit cards.
- 1.65% + .22 (Swiped Debit Cards)
- 1.75% + .22 (Swiped Credit Cards)
- 2.35% + .22 (Swiped Rewards Cards)or(Key Entered W/AVS transactions)
- 2.99% + .22 (Swiped Corporate or International Cards)or(Key Entered W/O AVS transactions)
- $8 Monthly Statement Fee
- $10 Monthly Minimum (Either this charge OR the percentages listed above)
- $29 Annual Fee (billed 6 months after you begin processing)
- $49 Reprogramming Charge if you use your own equipment.
Please let me know if you have any questions Richard!! We specialize in service and that is why you have been referred to us by both of the institutions that you are considering- please let me know if you have any other questions that I can help you with!!
Innovative Merchant Solutions
This is an Intuit company (or one that was swallowed up by Intuit) that has visited us in the past.
Samantha Witter from Intuit-IMS stopped by. We talked some shop and this is what we came up with.
We can use our own Machines, no need to buy. While our average transaction stays under $25 our rate is:
- Rate: 1.73%
- Transaction Fee: $0.10
- Monthly Fee: $7.50
- Batch Fee: $0.25
- Startup Fee: $12.50
This would be for accepting MasterCard and Visa only.
What we need for the application:
- 501c3 form
- articles of incorporation
- Voided check
The person that signs the application should have good credit. The organization will be held responsible for any mishaps, not the signer.