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Merchant Account Provider recommendations?
Posted on 4/7/16 at 8:12 am
Posted on 4/7/16 at 8:12 am
For those that own their own small business (or are responsible for an owner of a small business) and do a fairly good amount of credit | debit transactions, which merchant account provider are you with and why? Also, is it better to lease or purchase equipment?
Here's what I know right now (just started researching) and what I should consider in my decision making processes:
- 24/7 customer support is important
- Interchange-plus pricing appears to be what a business owner should want in a merchant account provider
- Accepted payment types and new payment technologies
- Contract length | early termination fee?
- Other "hidden" fees
- How long will it take to receive funds back into account?
Companies that I am considering:
- Dharma Merchant Services (interchange-plus)
- Helcim (interchange-plus)
- Braintree (flat rate)
Thoughts?
Here's what I know right now (just started researching) and what I should consider in my decision making processes:
- 24/7 customer support is important
- Interchange-plus pricing appears to be what a business owner should want in a merchant account provider
- Accepted payment types and new payment technologies
- Contract length | early termination fee?
- Other "hidden" fees
- How long will it take to receive funds back into account?
Companies that I am considering:
- Dharma Merchant Services (interchange-plus)
- Helcim (interchange-plus)
- Braintree (flat rate)
Thoughts?
3
Posted on 4/7/16 at 10:56 am to Will Cover
First Data: IPT + $.05 autherization before I sold my business few yers ago, but we also did > 3 million dollars per year.
They had the best rep in the baton rouge area that would always answer my calls is mainly why I went with them.
They had the best rep in the baton rouge area that would always answer my calls is mainly why I went with them.
Posted on 4/7/16 at 1:04 pm to Odinson
Do you know if your former representative is still with the company?
Posted on 4/7/16 at 1:34 pm to Will Cover
Not sure. It was a few yrs ago but her name was Jeanne H.
She came to location, help set-up, any CC transaction/ bypass issues etc.. she was on the spot. Paymentech also had fair rates but their rep was in dallas with poor/ limited transaction. Make sure you do lots of negotiating with who ever you go with but having a good rep makes all the difference.
She came to location, help set-up, any CC transaction/ bypass issues etc.. she was on the spot. Paymentech also had fair rates but their rep was in dallas with poor/ limited transaction. Make sure you do lots of negotiating with who ever you go with but having a good rep makes all the difference.
Posted on 4/7/16 at 6:05 pm to Will Cover
First Data was a nightmare for us. Kept charging us service fees after we turned off service. Still fighting with them to get that money back over a year later.
Definitely buy the equipment.
Definitely buy the equipment.
Posted on 4/7/16 at 6:07 pm to jeepfreak
quote:
Definitely buy the equipment.
On average, how much is the equipment? What happens if there is an issue out of warranty?
Posted on 4/8/16 at 12:07 pm to Will Cover
For just cc processing, couple hundred. If you want full blown registers with touchscreens, much more.
Posted on 4/8/16 at 4:26 pm to jeepfreak
quote:
For just cc processing, couple hundred. If you want full blown registers with touchscreens, much more.
Don't want the extra cost. I personally don't see any benefit.
Posted on 4/8/16 at 11:40 pm to Will Cover
Check out payment depot or baseratesms.
Posted on 4/9/16 at 6:50 am to Will Cover
1. Purchase equipment. My first machine was used for 8 years until the chip technology emerged. Renting is too costly.
2. I had similar issues when I dropped Solveras. They kept trying to charge me for over a year.
3. Try Costco. Elevon is the company contracting with them. I got my new machine FREE. Rates are better than I have ever had.
2. I had similar issues when I dropped Solveras. They kept trying to charge me for over a year.
3. Try Costco. Elevon is the company contracting with them. I got my new machine FREE. Rates are better than I have ever had.
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