A couple of people have mentioned Sam's Club processing in responding to this post. While I have no problem with Wal-Mart or Sam's Club (in fact I shop there frequently myself), there are some misconceptions still abounding regarding thie credit card processing services which should be clarified.
First and foremost, despite their use of the term "Sam's Club MCCP" (Merchant Credit Card Processing),
Sams/Walmart is in no way shape or form in the credit card processing business. Much like most local banks, their sole function is as a referrer to someone else, for which obviously they receive a 'piece of the action. In the case of Sam's, they are referring processing business to FDMS, a division of First Data Merchant Services. The same is true of Costco, BJ's, Office Depot, your local bank, and anyplace else you can think of offering their own 'brand' of credit card processing.
So my point is: Why contract through FDMS (or any other major credit card processor for that matter)
through another source when you can easily contact with that major processor directly? Obviously, adding an additional unnecessary mouth to feed into the pricing structure (in this case Sam's Club) only serves
to increase your cost for these services since, also obviously, whatever piece of the action Sam's gets is passed onto you, the end consumer. Again, the same is true of Costco, BJ.s etc. etc.
Incidentally, I realize many of you are under the impression that you truly are able to get better processing prices from Sam's because you think THEY get better costs which they are able to pass onto you. In most cases, this is correct, Sam's does command better wholesale pricing which is how they sell for less. But this
not the case in credit card processing services. Visa USA and MasterCard World only have one wholesale pricing structure (we call it 'Interhange" in the industry), and that Interchange is exactly the same for all processors big or small, including Sam's.
So shop around, investigate all the major processors directly, avoid unnecessry middlemen in order to reduce your costs of accepting credit cards.
AMSPCS
