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HELP, new retail Salon need best value merchant account and service.
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LUCKIEST

I never use anyone but Authorize.NET. They usually bundle a MA with their processor. Right now it is $99.00 per month + roughly 30.00 per month + transaction fee which will be around 2.9%. It will allow you to accept Visa/Mastercard. If you want to accept Discover/AMEX it costs extra if you think you will need them.

You can also consider PayPal Website Payments Pro. They have no set-up fee. It is simply a 30.00 per month charge + transaction fee which I believe is around 3%. This type of account does not require a Merchant Account. Instead, the fees are dumped in to your PayPal accountt and you would draw them out just like you do with normal PaPal transactions. Please note, it is seamless. The user never leaves your Website. It is a more advanced service that normal PayPal transactions.

I do not resell for either of these companies. But they are the only two I would trust with Authorize.NET being the top choice. However, if you wanted to avoid the cost of a merchant account and you do not mind transferring money from PayPal to your bank account then they are a viable option.

Hope this helps.

Rob

Thanks once again amspcs! This is exactly what I'm dealing with.

I am sill searching. A friend of mine owns several retail stores and has some c.c. terminals lying around, I just need the services.

Any suggestions?

Although it is possible to go directly to Authorize.net first and have them refer you to a merchant account provider, it's usually done the other way around. Recently, an e-commerce owner (online nursery) called me after speaking directly to Authorize.net. Because he called me before signing their contract, he's now saving $300+/month. You'll generally get a better rate plan going directly to a credit card processor (not a local bank), and then letting the processor set up your payment gateway.

Watch out for processors who seem to charge nickel-and-dime fees every time you turn around. For a retail store, you should pay a discount rate, a per-item fee, and a monthly service/statement fee. That's about it. If they try to charge batch fees, annual fees, application fees, AVS fees, etc., keep looking. And watch out for excessive per-item fees. Those should never total more than $.25/transaction.

Look for a processor who clearly explains every fee and surcharge. Be sure to ask about their rates for mid-qualified and non-qualified downgrades. It's easy for a processor to quote a low rate for qualified charges, but then overcharge you for the rest. If they tell you not to worry about downgrades because they're infrequent, don't believe them. For retail stores, mid-qualified charges are increasing in numbers annually because that's the segment that includes the popular "rewards" cards. Also, look for a processor or agent that can clearly explain when to ask for PIN numbers and when not to ask for them. A good merchant agent can be as valuable to you as a good realtor. You can find more free tips at http://www.creekfinancial.com/whitepapers
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Lastly, try to find a processor who can supply all your merchant needs, including gift cards, cash advances, POS systems, and card-swipe terminals. If you're already a valued client, you're more likely to get a good deal on these add-ons. Unscrupulous agents used to charge outrageous prices (up to $800) for a simple credit card terminal, and they gave the industry a bad name. Many of them are still around, so watch out for them Best of luck to you!

Neil Moncrief
www.CreekFinancial.com

I have to applaud my colleague and competitor nMoncrief on a very well written and informative post.
As I've stated (complained?) many times in other posts on this forum, this is all about sharing our expertise with useful information and help, not just blatantly trolling for business. Very well done nMoncrief.

May I please expand on your paragraph #2 dealing with "nickel and dime" fees? I agree with 99% of what you say, except in the instances of some batch fees and AVS (Address Verification) fees. Both of these fees are very common nowadays and both are generally legitimate charges. I feel your comments might encourage some merchants to NOT use AVS and instead bypass the system for fear of being charged a few pennies for it. As you know, this would be a big mistake since using AVS properly actually plays a very large part in reducing merchant processing expense. Conversly, avoidig or misusing AVS will actually increase merchant processing expense. So I think you are sending the wrong message for merchants to 'keep looking' if they see any of the fees you mentioned. I think better advise would be for a merchant NOT to concentrate on the individual components of any fee schedule, but rather do the math and consider the entire fee structure collectively down to the bottom line, which after all is the only number that counts.

That aside, a very sound post.

BG
amspcs@juno.com
www.MerchantServices-help.com

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If you are still interested please give us a call and we will discuss all fess and rates in order to get you business set up. We know you are getting many offers but please allow us the opportunity to show you quailty sevice you deserve.

Marcus Walker
866 351-1627
www.mm-merchantcardservices.net
www.mm-merchantcardservices.com