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    5 Replies Latest reply on Apr 17, 2009 3:23 PM by MktingAsst

    Credit Card Processor?

    MktingAsst Wayfarer
      I was wondering how franchise owners decide how they purchase credit card processing equipment and their processor? Is this something that the corporate office supplies you with or do you do the search on your own? I am just trying to determine the process one goes through when choosing a processor, as well as equipment.

      Thanks,

      Mkting Asst
      http://terminaloutlet.com
        • Re: Credit Card Processor?
          amspcs Ranger
          Generally here's how it works:

          Each individual franchisee is required to apply for and obtain their own individual merchant processing account--the franchisor cannot provide this for you. That said, many franchisors pre-negotiate special processing deals with a processor that the franchisee is encouraged to investigate on the premise that these bulk fees are lower than the franchisee could negotiate on his own. In other words, leverage from numbers.
          We ourselves are reccommended processing services resellers for many franchises out there; we recommend that you find out with whom, if anybody, your franchisor has such arrangements.

          If your franchisor does not have such a referral arrangement, we'd be happy to talk to you about processing.

          Equipment may or may not be another matter. Again, the franchisor may buy equipment in bulk and re-sell to their franchisees at prices lower than the franchisee could obtain individually. If not, you
          need to shop for processing equipment on your own. We publish a blog that summarizes some of the better deals available weekly on quality refurbished (and sometimes new) POS equipment which you might want to subscribe to: http://www.merchantservices-help.com/blog/*

          Hope you find this information helpful. Best of luck to you.

          AMSPCS
          amspcs@juno.com
          www.MerchantServices-help.com
          • Re: Credit Card Processor?
            phanio Pioneer
            Ask your franchisor to recommend a firm - then compare that firm to others that you have researched. You can also call other franchisees and ask them who they use and if they like them or not.

            Business Money Today
            • Re: Credit Card Processor?
              phanio Pioneer

              The bank that you have your business accounts with might also have their own processor - compare them to other companies - sometimes if your processor is with your bank - you can get your funds a day or two earlier as well as some discounts for having a bigger relationship with your bank.

              Business Money Today