Credit Card Equipment

I have already made some initial inquiries at credit card processing companies. Most of them suggested that I buy credit card equipment. Is this the right way to go?

You can probably buy some used for cheap.

2007-08-10 01:27:37 by Irene

www.Canadian-Merchant-Account- Services.com Learn the about the different credit card machines available to Canadian Merchants. Dial-up credit card ...

Today I spoke with our credit card processor. They suggested that if we wanted to have less non-qualified transactions and more mid or qualified, we should buy new equipment. Right now we have Verifone 330's, so our current equipment is pretty old. But does the processor's arguement hold water?

Thanks,
Brad

Brad,

Here is a statement directly from the Visa/MC Interchange Matrix.

"If you utilize terminals, software, services or equipment provided
or configured by any third party, be aware that failure by these systems to correctly and accurately transmit information in the required formats may result
in your transactions not qualifying for the most favorable Interchange levels."

I own a credit card processing company. I started my company when I realized my other business was being ripped off for 5 years by my credit card processor. As long as your machine is working you should be fine. You should be more concerned if you are currently being charged a tiered rate or a pass through rate based on the current VISA/MC/DISCOVER interchange rate. If you have any questions please feel free to give me a call.toll free 877-832-6576. Below is a direct link to the information you requested


http://www.nurit2085.com/matrix.pdf

Regards,

Emil
emilbodenstein@yahoo.com

2008-08-20 13:49:12 by Brad Son of Dad

Pack 100 long sales slips
Easily imprint credit card info
Keep a permanent record of sales

I'm looking for one of the project equipment for destroing old credit cards. Equipment ready to heavy duty, but there is no ton of cards.

Best shredder is the vecoplan. All the advantages of a grinder with a screen.

2008-01-21 05:57:45 by krzad123

Price: $79.95

Credit card data is immediately encrypted once the card is scanned via your iPhone; you'll get authorization in seconds
Low-profile, soft-touch case allows you to process any major credit card by swiping along the bottom of the case
Quick and easy way to accept credit cards anytime, anywhere using your iPhone 4

Will my credit card be under a cost of goods account, expense account, loan or what? The equipment had already been paid in full by the credit card, now we are paying the credit card off. Should I name the credit card as a vendor?

Are you using an accounting software package? Your question suggests that you are. If so, there is actually an account type for credit cards. You need to create a new account for that card. You will also need to set the credit card company up as a vendor.

Charges to the credit card would initially be booked either to an expense account or a capital account. Then when you start paying off the card, you book everything other than the interest expense to the credit card account.

2006-01-11 08:31:15 by queen_kat779

I went to where it happened with the information my bank gave me- they looked up the transaction- but wouldn't give me anything else. Computers are often hooked up to internet- so can they be tracked so I can press charges?

To find out where someone lives from a computer you would need a court order to bring to their isp an ip adress which is what you are thinking of is not enough to get an adress.

2009-09-17 13:31:55 by Madeline