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13 Replies Latest reply: Jul 10, 2008 12:01 PM by amspcs RSS

Best Merchant Service Provider

AtlantaKid Newbie
Currently Being Moderated
I started my small business not too long ago and it looks like I just started seeing some cash flow - in. I have a general idea of how to keep track of my spending and income. I know it is best if I ask people who already experienced this issue before. Well, I am shopping around for merchant services. Is their any body who can recommend the best merchant service in the US? Factors would be reliability, timeliness, % charges, equipment fees, service options (on line vs. off line), integration with Quickbook, etc...

By the way, I have looked at Bank of America's packages for SMBs.

thanks,
  • Re: Best Merchant Service Provider
    amspcs Master
    Currently Being Moderated
    Hello Atlanta,

    I'm in the biz. Perhaps I could help point you in the right direction.

    #1, it would help to know what sort of business you are in. I glanced at your website, I gather you are in the consulting business and do internet as opposed to face-to-face retail....is this correct? These are important factors to know. #1, an internet merchant account is a totally different animal than a retail account. #2, consultants may or may not be writable by certain processors due to chargeback risk factors.

    The one biggest error you need to avoid is shopping on the basis of percentage rates, since you mentioned that as one of your criteria. You need to really understand discount rates and the concept of Interchange.. Suffice to say that the lowest discount rate usually does NOT translate to the lowest cost of processing, actually quite the opposite. It's all about 'packaging', you can really shoot yourself in the foot if you don't understand processing pricing structures which is what Interchange is. If you'd like to expand on this conversation, let me know.

    If you are looking for integration with QuickBooks and are in fact an internet merchant, I can give you a pretty good recommendation right now. QB merchant services obviously offers the best integration with their own software, plus in includes a secure gateway at no additional charge...otherwise you're looking at setup fees and $20 extra per month or so with Authorize.net or Verisign. Their numbers are competeitive, $17.95 per month and $59.95 setup. However,via our affiliate QB site we can reduce those numbers to $12.95 per month with no setup fee . The site is: http://www.merchantservices-help.com/quickbooks.html*
    Give it a peek and ask away with questions.

    The Bank of America processin program is a good choice as well. If you do your merchant account at the same bank as your checking account, in this case B of A, you'll get the advantage of having your monies deposited into your account one day faster than with an external merchant account. But....at a steep price moneywise. Understand that going directly to your bank for a merchant account does NOT get you better pricing on the merchant account as one might think. Actually, all it does is add an additional middleman to the pricing structure (i.e. the referral fees to the bank) which raises your cost of processing credit cards since the bank functions only as a referral source, they have nothing to do with the actual processing because that is a totally different industry.

    Anyway, hopefully I've given you a little info to digest. There are many esteemed members of the merchant services community active in this forum who you are sure to hear from and learn a lot. Feel free to call on any of us if you have any questions. Good luck

    AMSPCS
    amspcs@juno.com
    www.MerchantServices-help.com
    1-877-689-1691 toll free
    • Re: Best Merchant Service Provider
      partybiz Newbie
      Currently Being Moderated
      Hello Amspcs,

      I was wondering if you could tell me what merchant services would be feasible for a Retail Business such as a liquor store?
      • Re: Best Merchant Service Provider
        amspcs Master
        Currently Being Moderated
        I'd be happy to offer some ideas. First, please provide me with a little info:

        Where are you located?
        Projected # of credit card transactions per month
        Do you have processing equipment?
        If so, what kind? Terminal or POS system.

        You can either reply via this forum, or via my direct email, please see below. Thanks.

        AMSPCS
        amspcs@juno.com
        www.MerchantServices-help.com
        • Re: Best Merchant Service Provider
          partybiz Newbie
          Currently Being Moderated
          I'm located in houston, texas. Projected card transactions about $2,500. I do not have processing equipment at this time but interested in the Terminal option...
          • Re: Best Merchant Service Provider
            amspcs Master
            Currently Being Moderated
            "In regards to your comment "but interested in the Terminal option". I am assuming you are referring to the virtual terminal option which is the free add-on to the QuickBooks merchant account.

            If so, you may review the terms and fees and apply online at this site:

            http://www.merchantservices-help.com/quickbooks.html*

            Just cut & paste to your browser (works best on Internet Explorer) and scroll down to the "click here to appy for a QuickBooks Merchant account..." link. You'll see FAQ links on the right hand side, the application link on the left.

            You'll note this is the affiliate QB qpplication site with lower pricing than the QB direct site. For example, the direct site charges $17.95 per month, the affiliate site $12.95. The direct site charges $59.95 signup,the affiliate site charges nothing. And the affiliate site offers the free software, you have to buy it on the direct site. I have no idea why the direct site is so much more expensive than their own affiliates can charge, but it is.

            If this is NOT what you meant and you were referring to the "Dial Pay' solution, please so advise. Thanks and good luck.

            BarryG
            AMSPCS
            www.MerchantServices-help.com
            amspcs@juno.com

    • Re: Best Merchant Service Provider
      AtlantaKid Newbie
      Currently Being Moderated

      Thanks much Amspcs..... it just sounds funny addressing a person Amspcs. Cyber right? I do really appreciate your input. I haven't check out your affiliates' site yet. Of course I don't have an online business and don't need gateway integration and all. I just need a credit card processing channel with reliable service. I am not really all happy about paying charges for processing equipment. I wish to do all transactions on line if I could. The problem is not all my prospects wouldn't have secured access or some times no internet access at all. So, I have to rely on card reader equipment 50% of the time, at least. Either way, I will consider merchant services dot com against B of A.

      By the way, I very much like services at Bank of America. I do all my accounts with them since I moved to Georgia.

       


      Thanks much again.
      • Re: Best Merchant Service Provider
        amspcs Master
        Currently Being Moderated
        You're welcome. Name is Barry. AMSPCS is my forum name, obviously.

        Not sure I understood your explanation of requirements completely. If I read you correctly, you're not
        interested in paying for equipment but need reliable on-line method of processing. Again, I would refer you to the QuickBooks site which has everything you need: A reliable processor, included virtual terminal, software included, etc. It comes with the gateway,but since it's free you don't have to use it. However, should you ever decide to get in to internet processing, it would be convenient to know it's there and it's no cost. And with no contract or termination fees, virtually impossible to go wrong.

        If you decide you must go with a B of A system, we have something underwritten by B of A via SignaPay called "Dial Pay", which is sort of a throwback to the olden days when all processing was done over the telephone. I don't recommend it if you plan on doing more than a few transactions a month--it's a little tedious punching in all those numbers on a telephone keypad.

        In closing, we represent a lot of major league underwriters, including Bank of America (SignaPay), HSBC Bank (NAB), Wells Fargo (Paymerica), Intuit, and others. I still feel strongly that the QB program fits your needs like a glove. Do yourself a favor and have a peek:when you have a chance:

        http://www.merchantservices-help.com/quickbooks.html*
        • Re: Best Merchant Service Provider
          AtlantaKid Newbie
          Currently Being Moderated
          Hi Barry, I was only kidding about the scree name. I definitely am interserted looking in to what QB has to offer. Yes, I don't want to lease or purchase process equipmnet if I don't have to. I will check out QB when I have the chance and let you know.

          Thanks much,
    • Re: Best Merchant Service Provider
      dinomon Newbie
      Currently Being Moderated

      Hi,

       

      Would the Quickbook merchant svc. acct. work with Onlineauction.com? They don't get involved in the $ transaction & they don't really have any restrictions, like ebay does. They state that the $ arrangement is whatever the seller offers as means of payment. Would a link be all that's needed on the item listing?

       

      Thxs

       

      Bill
      • Re: Best Merchant Service Provider
        amspcs Master
        Currently Being Moderated
        Bill, My guess is that the QB service would be compatible with onlineauctions. But let's not guess.
        I'll make a couple of phone calls tomorrow and get back to you with the definitive answer. Sorry for the delay..I picked this up kind of late today.

        AMSPCS
      • Re: Best Merchant Service Provider
        amspcs Master
        Currently Being Moderated
        Good morning, Bill. I got the definitive answer, which is "Yes", Onlineauction will work just fine with the QB merchant service account and built in gateway-. I got this straight from the horse's mouth at onlineauction.com, spoke with John Graham at 800-900-2828 ext 2828.

        I suggest you commumicate with me via my biz email (see below) since there is no need to continue to
        make our conversations public at this point. Thanks!

        Barry G
        amspcs@juno.com
        AMSPCS
        www.MerchantServices-help.com
  • Re: Best Merchant Service Provider
    MS.ALPHA Newbie
    Currently Being Moderated
    Hello a new innovative diverse christian salon need help with equipment and products . where can i start & who can help thanx Ms Alpha
  • Re: Best Merchant Service Provider
    NRU Investor Newbie
    Currently Being Moderated

    Good evening. I know there are alot of companies out there that promise you things that sound good but you have to be very careful. I know that you need to accept credit cards, but would I would like to do is save you money which is important but last but not least is help you make more money, which is the reason why you went into business. With Alpha Omega Processing powered by NPC we have over 25 years in experience with credit processing. NPC processes 1 out of 4 credit card transactions in the world, and is the 5th largest processing company in the U.S. We offer no annual fees, no application fees, and no contracts. We offer the lowest rates and it will only go down from there,not up. Feel free to call me at 678-371-5049- so that I can get all of your questions answered or you can email me at tmack0306@yahoo.com. Give me a call so we can talk about your business and get your business off the ground.

    Tory Mosley
    Business Owner Advisor

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