1.1 What is a Merchant Services “Broker”
While there ins’t an acknowledge category of Merchant Services Broker, it is basically what Independent Merchant Services Professional are by default. It used to be that a representative could only sell the company they were employed by. Now, Independent Merchant Reps are just that – Independent, with non-exclusive relationships with the companies they represent. A lot of reps still stick to 1 company. We actually work with 4 to 6 providers at a time – much like an insurance broker, so it is the best way to explain how we work. Back to Top
1.2 How many payment processors do you represent?
All merchant companies call themselves processors, but really there are only a handful of actual processors that communicate directly to Visa/MC/DSC/AMEX. We look at actual back-end processors – so we have 3 mains to choose from: First Data (3 out of the top 5 biggest banks use them – that’s right, it may be “Bank Name” Merchant Services, but they re-sell First Data), TSYS (Many Regional Banks Re-sell TSYS), Paymentech (Chase/First Data Started them – Again, not the bank, it is a separate company). We can also place business with Vantiv and Elavon if you really need them, but those are just if the technology requires it. We have access to the bank end processors through our relationships with front end service organizations (ISOs). Back to Top
1.3 Do you have 24/7 customer service?
Yes, every company we represent has 24/7 Customer Service and Technical Support. Of course our team is also available to help you during business hours – and even beyond! You get our cell phone numbers so in an emergency, we are reachable. Back to Top
1.4 Is your merchant service as Secure as the service I get from my bank?
Absolutely! As we’ve mentioned before, we represent the exact same companies that most banks represent. Your transactions are secured in the exact same way bank merchant transactions are secured. Back to Top
1.5 How much industry experience do you have?
Over 15 years financial services with almost 10 years immersed in Merchant Services. Expert is not a word we take lightly. Back to Top
1.6 Will you be there for my business when I need you?
We often hear from business owners: “I don’t even know my merchant rep”. That will not happen with us. You will always have access to our team. Luis Centeno is your main point of contact. Visit our About Us Page to learn more about our philosophy. Luis has several partners and staff at multiple companies committed to helping you with all your payment processing needs. We know that one of the major differences is our hands-on approach and attention to our customers. Back to Top
2.1 Do you process all types of Credit Cards?
Yes – Visa, MasterCard, Discover, American Express and Foreign Cards depending on need like JCB (Japanese Credit Bureau), Debit Cards with or without pin and of course Chip Cards. Back to Top
2.2 Is you pricing guaranteed?
Yes – The part we can control :-). We’ll explain thoroughly how pricing works and will guarantee that our markup will not change. We price 99% of our accounts at “wholesale” Plus (aka Interchange Plus). With true, honest to goodness pass-through pricing. Pricing is very complicated in merchant services, let’s have a conversation and we can show you how we can help you. Back to Top
2.3 Do you have a contract or cancellation fees?
As a general rule we don’t impose a cancellation fee on any of our agreements. There is an agreement that we enter into for service – so a “contract” is executed, but with no cancellation penalty, it really becomes a month to month situation. There are situations if your business is “High Risk” in the views of the banks, that the processor will want a cancellation fee added, but it is rare and that is fully disclosed at the time of signature. Back to Top
2.4 How can your pricing be better than the Banks?
We don’t have Bank overhead. Big companies have stock holders that expect bigger profits every Year (heck, every quarter). We want to keep your business forever, so we give you a fair price and great service, so you will stay with us. Back to Top
2.5 Why are merchant services pricing and statements so complicated?
They do that on purpose! The answer if 2-fold: 1) They don’t want you to know exactly how much you are paying and 2) They don’t want the competition to know how much they can save you! The good news is we can help you decipher your merchant statement and show you how to read and understand your statement. Back to Top
2.6 What about Flat Pricing I see advertised online and on TV?
Flat pricing is great for very specific situations. Most of our customers pay prices below the flat pricing advertised by different companies. How can that be? It’s all because of our “wholesale” plus pricing model. It is fair for you and fair for us. Contact us for details! Back to Top Back to Top
3.1 What do I need to know about the latest credit card terminals?
Do you even need one? And if you do, does it take Chip Cards, can it use the internet securely (hint, some can’t), does it take the new payment apps, the list goes on and on! It used to be you only needed to know it was a payment terminal, now security and features are on everyone’s mind. We can advise you on how to best use a terminal. Back to Top
3.2 Can you work with my Point of Sale (POS) System?
Probably – through our processors we are already providers for most major Point of Sale Systems. There are a fee that are “locked” so only 1 company can process payments – we don’t ever recommend you use one like that. We can tell you fairly quickly if we can help. Back to Top
3.3 What if my Point of Sale (POS) System is locked?
Hope is not lost! There are options: 3rd party gateways that can connect, software add-ons, we may be able to enter into new agreements with your POS, or – well, we can recommend a new POS that won’t lock you in! Usually, if you are locked in, the price of the merchant services has crept up over time and the savings can justify many options. Back to Top
3.4 What is a Virtual Terminal?
A Virtual Terminal is a secure website with a payment form. If you have ever purchased products online and checked out using a shopping cart, you already know how to use one! You can use a virtual terminal to process payments when not face to face with customers. If you key-in a lot of transactions on a physical terminal, it is better to use a virtual terminal, easier and more secure too! Back to Top
3.5 Can you help me process payments from my Smart Phone or Tablet?
Yes! We can set you up with a payment app on your phone or tablet and we have credit card swipers (with chip readers) for both available.
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3.6 Can you help me set up recurring payments?
Yes, our virtual terminal has recurring payments capabilities. So if you have a subscription, membership, or dues to collect at regular intervals we can make it automatic.