Credit Card Processing System

1) Any reviews as how these 3rd party credit card processing are? is it worth for someone who might process around 10K per year ? I am not doing a big business, just wanted to use for some of our customers who wants to pay using credit card.


2) When I setup a 3rd party cc processing and when I use this service to accept payments from my customers, the 3rd party takes the amount and sends a check to me monthly. They take a fees I guess. On the customer credit card statement what names does it show for the transaction ? 3rd party name or my name ?

3) Does the 3rd party cc processing company care as what products or services I am doing with the customers ? for which customers are paying me ?

4) Any good 3rd cc processing companies which have low fees for someone like me who will not process more than 15k a year.

These sources should be the answers to your questions:

http://www.merchantseek.com/merchant_acc ounts_rates.htm

https://www.vendorseek.com/ppc-cc-processing.asp?partner=4&campaign=cc_proc&source=overture&ac=003&ai=22C867ED02A0EC951290BF0747C57469722D7281&OVRAW=3rd%20Party%20Credit%20Card%20processing&OVKEY=3rd%20party%20credit%20card%20processing&OVMTC=standard&OVADID=9569760511&OVKWID=61426207011
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2009-02-17 12:58:26 by John P

www.elementps.com Credit card processing fees shouldn't be a mystery. Watch to learn how actual Visa and MasterCard fees can clearly be ...

I just got a job selling credit card processing systems and service, has anyone ever done this? Im supposed to walk into businesses and get them to change to my provider (we pay buyout and provide lower rates) This is my first time doing this, and I was wondering if anyone had any good ideas, like where to go, what to tell them, why i should do it and if you want to change your current card processing company? i hope to work this question to its fullest potential, and will monitor it closely. Thanks
Of course there is extensive training and materials, i was looking for more of the devil's advocate pov. someone who has done this before or uses thes machines and is unhappy, especially with the service.

Hit the streets early and often. Go to all the industrial parks and look for business to business merchants (the profit margin in a moto account is better than retail). Look for new businesses opening soon and talk to the owners. Talk to the owners where you currently give your patronage. Provide excellent customer service! Connect deeply with the owners! Make sure you know the products inside and out, merchants will test you on this! And above all, don't be afraid to hear "NO".

2006-10-26 18:05:39 by mike mann

Price: $114.00

I have a small restaurant business that makes around 300k a year. I am thinking about accepting credit cards because many customers want to use credit cards but we only accept cash. How much would the startup costs be for getting a credit card system in place? Also, how much roughly are monthly fees and how much are transaction fees (estimates are fine)? Are there any contracts when signing up for credit card processing? In all honesty, would it be best for me to stay cash only or would it be better (again in your opinion) for me to go with a credit card system.

One more thing, we are more of a seasonal business in that we get most of our customers (about 75% of our income) during May-August and in November-January. Other months the business is slow.

Finding a credit card processing company can be overwhelming due to different pricing structures and every one claiming to have the lowest rate.

The truth is your rate should be determined by your average size ticket and industry. If you have an average tiocket (sale) under $15 you can get a very low transaction fee about $0.15. Your percentage rate will be a little higher about 1.85% for debit and credit cards. That is the best program for you due to the transaction fee having a greater affect on low ticket transactions.

If your average ticket is above $15, you will pay a transaction fee between $0.20 -0.25 and a percentage rate of about 1.80% for credit and 1.40% for check cards.

The next thing you want to look out for is what you pay for key entered transactions and corporate cards. This is very important. Some place will charge a very low percentage for swiped personal check and credit cards, but charge over 4% for rewards and hand keyed cards. BE CAREFUL.

Now you need to know the difference between a pin based debit and a check card. A check card is charged different (see check card rates above) due to how it is processed. If a customer swipes a debit card and signs for it instead of entering their pin #, you will be charged a % and trans. fee. If they enter their pin #, you can get a flat rate of around $0.65 trans fee and no %. It is important to know your business, and decide wether or not your average ticket is high enough for a pin based transaction to be worth it or not. Usually a $40 or higher transaction amount is when you want to use that pin pad.

Now that you are an expert on pricing, LOL, we need to discuss equipment. In a resturaunt environment, having a tip option Im sure is very important. Be sure to get equipment that has a great tip feature, usually Omni 3750 or Hypercom T7 Plus or better.

Contrancts: Most every credit card processor has a 3 year contract agreement. Very common practice.

You can find out more about rates and other programs here:

http://www.omnitranz.com/freerates

I hope this helps! Good Luck

2007-02-12 05:11:00 by Keiya K

Looking for a good IVR hosting place for a dating/personals/chat system. Hopefully one that offers in house credit card processing. Must have service to Canada either via a local Vancouver BC or 1-800 number.

Check websites like http://aplis.net/

2007-10-30 23:23:31 by paradyme

When I make a purchase with my debit card and go home to check my bank account , the purchase is already in the system. But when I use my credit card it takes at least a couple days. If there are any credit card companies that process as fast as using a debit card, please let me know, Thanks

It depends more on who the merchant uses to process the credit cards than the actual credit card company. Most credit card transactions are processed thru third party processors. While debit card transactions go directly to the bank.

2008-06-30 14:35:01 by RAV94