CC Processing

[Vettezuki]

I was just going to PM Ron, but figured, heck someone else might learn from this too.

Time to find a solution for our little business.

What's the cheapest/best solution for a relatively small number of monthly transactions at a single location?

Several major vendors provide some form of service.

-PeachTree our accounting package. May be nice since it integrates directly but maybe any system will. :huh:

-Costco provides some kind of card processing service.

-ADP, who does all our payroll and other services provides some kind of CC service as well.

I know you're mostly related to the equipment, but can you shed some light on the subject and make some general recommendations?

[94cobra69ss396]

Ben, I deal with a lot of companies that offer credit card processing. I really need to know some more info before I can tell you what type of equipment would suit your business. Also be aware that with being a new business it will be a lot harder to get approved for processing. This is where I can help along with maybe getting a little better discount rate. I left you a message on your cell so if you want to call me and give me a little more info I can have someone call you.

Just so everyone has some basic info, Visa and Mastercard (V/MC) charge the merchant to process credit cards. There are companies called processors who handle the routing of the transaction between the merchant and V/MC. The processors also charge a percentage for the processing. The processors don't usually sign merchants up direct so there are other companies that do that. They also charge a percentage of each transaction.

How a credit card is taken and what type a business the company is also effects the discount rate. The higher the risk (mail order, internet, etc) the higher the rate V/MC charge.

[Vettezuki]

Thanks Ron. I'll be calling you later today or tomorrow. I'm not excited about paying three levels of fees on a transaction, but customers ask for CC and reminding people to pay their invoices gets a little tiring.

[94cobra69ss396]

Thanks Ron. I'll be calling you later today or tomorrow. I'm not excited about paying three levels of fees on a transaction, but customers ask for CC and reminding people to pay their invoices gets a little tiring.

That's the way it is with everything. I'm back at home now so you can call me whenever.

[94cobra69ss396]

Ben, did Joe get a hold of you today?

[Vettezuki]

Ben, did Joe get a hold of you today?

Nope. Do you know anything about the big box processors? Charge.com (http://www.charge.com/) and easycharge.net (http://www.easycharge.net/) (affiliate of charge.com) seem to have some pretty strong offers. :huh: If I don't hear from Joe with an option, I'll probably go with one of these guys. Thank you for your help.

[94cobra69ss396]

Call Joe at Granite Processing and see what they can do.

Joe @ 888-580-4472 option 1 ext 6282 (or 916.580.6282)

[Vettezuki]

Call Joe at Granite Processing and see what they can do.

Joe @ 888-580-4472 option 1 ext 6282 (or 916.580.6282)

BTW, thanks. :thumbs_up: Joe hooked us up and we're now taking CCs. It was a bit more expensive on the front side than other offers, but his explanation of advertised rates compared to effective rates for most smaller businesses made sense. They delivered on time and got us up to speed right away.

[jsup]

What's the application? Retail? Ecommerace? I went through this with IP.

What I learned is as a vendor YOU pay different rates depending on the type of card the customer uses.

[Vettezuki]

What's the application? Retail? Ecommerace? I went through this with IP.

What I learned is as a vendor YOU pay different rates depending on the type of card the customer uses.

Over the counter retail.

[94cobra69ss396]

BTW, thanks. :thumbs_up: Joe hooked us up and we're now taking CCs. It was a bit more expensive on the front side than other offers, but his explanation of advertised rates compared to effective rates for most smaller businesses made sense. They delivered on time and got us up to speed right away.

Glad to hear.

What's the application? Retail? Ecommerace? I went through this with IP.

What I learned is as a vendor YOU pay different rates depending on the type of card the customer uses.

It's more than just the card type but also how the transaction is entered and so on. Here is a list of just some of Visa's categories:

Standard
Electronic Interchange Rate(EIRF)
CPS Small Ticket
CPS Restaurant
CPS Supermarket - Credit
CPS Automated Fuel Dispenser
CPS Card Not Present
CPS Retail
CPS Account Funding
CPS Retail Key Entry
CPS Retail 2
CPS Retail 2 – Developing Markets
CPS Supermarket - Debit
CPS Supermarket - Debit Maximum
CPS Retail - Debit
CPS Utility
CPS Rewards 1
CPS Rewards 2
CPS Rewards 2 – MOTO / E-commerce
CPS Service Station
CPS Electronic Commerce Basic
CPS Electronic Commerce Preferred
US Consumer Interregional Airline
US Infinite/Signature Interregional Airline
CPS Passenger Transport
CPS Hotel and CPS Car Rental (Card Not Present)
CPS Hotel and CPS Car Rental (Card Present)
Signature Card Standard
Signature Card Electronic
CPS Electronic Commerce Preferred – Passenger Transport
CPS Electronic Commerce Preferred – Hotel
CPS Electronic Commerce Preferred – Car Rental

Now these are just the categories for regular Visa's. Visa's Business/Corporate/Purchase cards have their own categories. Then you have MasterCard who has their own and Amex and Discover, etc.

John, give Joe a call and they might be able to beat the rates you are getting now and save you some money. Just tell him Ron Cooper referred you.

Joe @ 888-580-4472 option 1 ext 6282 (or 916.580.6282)