Merchant Services is all about helping Small Business Owners reduce their monthly Credit Card costs!
Anyone who has owned a small business and accepts credit cards knows that the processing costs for taking credit cards can be quite severe. Worse, there are perhaps thousands of credit card processing companies out there!
Making the process more difficult to understand, the monthly statements typically sent out to you are just about impossible to actually grasp and comprehend!
We did a lot of research before joining First Financial Merchant Services, because we had heard so many horror stories from fellow business owners about many companies being very dishonest in their advertising, billing and just general practices.
This particular company we represent is very ethical and forthright in their business policies and practices - a very refreshing touch, in this day and age.
Not only will they analyze your statements for free, but they guarantee that they will improve your business costs for CC Processing or write you a check for $100, just for trying!
Even better, First Financial will donate 10% of the profits they earn on a business CC Account back to that Merchant's favorite Charity - in the Business Owners name!! How awesome is that!
They call it their "Give Back Program" and it is very successful all across the United States.
They have over 600 IRS Code 501c(3) Charities that they donate to every quarter on behalf of Merchants throughout the USA.
So, just how does this work?
First we analyze your current statements. Then we ask what are your business plans and goals for the future? Do you need mobile cc processing equipment for service people on the road, as an example? Do you sell anything on the Internet - or will you be in the near future? Do you accept a lot of European credit cards? Perhaps a lot of "Travel & Entertainment" or Corporate credit cards? Do you "swipe" your cards or are they done manually? etc. etc.
All of these questions and answers will have a very direct impact on how much your processing fees are. Just accepting credit cards online with a secure system versus doing them manually can save a huge monthly fee!
After we have a good sense of your business needs and direction, we formulate the best possible Credit Card Processing System for your particular type of needs.
We sign you up with some basic paperwork and you name the Charity of your choice for First Financial to donate to on your behalf, every quarter - that's it!
Another great source for Merchant Services Processing is the Internet Company called PayPal.
They have evolved into a tremendous Gateway System Processor, software, accounting and even a bank company for millions of online businesses.
There are two different methods of CC Processing most businesses are on:
They both have their merits, depending on your particular situation. Just click on those links to get a better understanding of each method used to process your CC Fees.
So, what does all this cost per transaction in my Business?
We explain how to find that here - in our Effective Rate Page.
Terms and Definitions
There is also a Per Item charge for each transaction that the MSP charges. There will also be an Authorization Charge, as well.
Each different Merchant Services company provides their own method of charging you for processing your credit/debit card transactions into and out of the Visa/MasterCard/Discover and American Express Systems.
All those MSP companies use a set of exacting rules to move the money to your account (after you've batched your machine) and charge the cardholder for that service - all within seconds!
If you are selling a product over the Internet, you will also need to use a "Gateway" type of company that offers a very secure method of handling those transactions for you. They are NOT a credit decision maker, they just offer a secure gateway between a cardholder, you - the merchant and the CC Issuer.
Click the Terms and Definitions of Merchant Services - they are all explained more in-depth there.
By Bernie Martin
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