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I'm not sure what you mean by charge-up 'minuet cards' for boost moble, sprint, so I'll leave that aside for now. Essential questions to ask:
Here's something to help you calculate and compare costs: VERY ROUGH
65% rewards cards
20% debit cards
5% corporate cards
10% regular credit card (consumer retail)
Make a spreadsheet- put in columns for cost per transaction, sales per transaction, etc.
So if you projected $25,000 in sales, 65% would process at rewards rate, 20% at the debit rate etc.
Now you have a much better comparison of numbers.
Choosing the right vendor. By asking the questions above, you can narrow your list. I realize the terminology is greek to you. But that's OK. You'll sound super knowledgeable to anyone you talk to (= better deal) and the point is to narrow your list. You may contact me for a quote 954-942-0483, 9-5 ET
- Do you have a cancellation fee? New businesses always pay more than established businesses because no one knows how much revenue you'll really generate. Rule #1 - don't sign a contract that has a cancellation fee,. You need flexibility to renegotiate or move on as your business grows.
- What will my cost be for Rewards Cards? More than half of all cards presented by consumers are usually REWARDS cards. (Cards with points or miles that accumulate for the benefit of the card owner). The fee for processing these cards is higher than other cards. Since this is the most common card presented, in order to compare companies, you need to know what your cost will be for Rewards cards. In reality, there are many different rewards cards rates- your processor should at least be able to tell you what your l_owest cost possible is for these cards_. Don't compare 'qualified rate' if that's what's offered, compare Rewards Cards rates because that's what you'll hit most often.
- Will my statement show what levels of interchange I hit? If the statement doesn't break out the cost of the types of cards listed, such as below, look elsewhere to avoid hidden charges.
Here's something to help you calculate and compare costs: VERY ROUGH
65% rewards cards
20% debit cards
5% corporate cards
10% regular credit card (consumer retail)
Make a spreadsheet- put in columns for cost per transaction, sales per transaction, etc.
So if you projected $25,000 in sales, 65% would process at rewards rate, 20% at the debit rate etc.
Now you have a much better comparison of numbers.
Choosing the right vendor. By asking the questions above, you can narrow your list. I realize the terminology is greek to you. But that's OK. You'll sound super knowledgeable to anyone you talk to (= better deal) and the point is to narrow your list. You may contact me for a quote 954-942-0483, 9-5 ET
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