Credit Card Terminals
Preferred Processor |
click
here Harley Financial Services
in Association with Bank of America, NA |
Typical Merchant
Account Fee's |
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CONFUSED? |
Retail Merchant
Account (Swipe) |
Our Rates |
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| 1.69% to 1.90% Qualified Discount Rate |
1.68% |
Call us today! |
| $0.20 to $0.33 per transaction |
$0.20 Per Transaction |
We will be happy to answer |
| 1.29% to 1.45% Off-line Debit Card |
1.30% |
any questions or help you |
| $0.65 to $0.80 On-line Debit Card |
$0.63 |
get set up with a |
| .75% to .95% Mid-Qualified Surcharge |
.90% |
Merchant Account! |
| 1.35% to 1.95% Non-Qualified Surcharge |
1.50% |
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Call
877-295-6789 |
Mail Order /
Telephone Order (MOTO) |
|
Online Form |
| 2.05% to 2.60% Qualified Discount Rate |
2.08% |
|
| $0.26 to $0.35 Transaction Fee |
$0.24 |
Harley Financial Services
in Association with Bank of America, NA |
| .89% to 1.35% Non-Qualified Surcharge |
.89% |
E-mail |
Internet Account
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| 2.30% to 2.60% Qualified Discount Rate |
2.08% |
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| $0.26 to $0.35 Transaction Fee |
$0.24 |
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| .89% to 1.35% Non-Qualified Surcharge |
.89% |
|
| $50 - $300 in Setup Fees |
$250.00 |
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| $15 to $50 month gateway fee's |
$47.00 |
|
Online Form |
E-mail |
or Call 877-295-6789 |
| FAQ's
Frequently Asked Questions |
What is a Merchant Account? |
| An account set up with a credit card
processing bank usually through an ISO/MSP (Independent Service Organization/Merchant
Service Provider) for the intention of processing credit cards. |
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| What does qualified discount rate,
processing discount or processing rate mean? |
| Rate charged on all
credit card transactions that the credit card processing company charges to handle the
transaction for you. It is a percentage charged on the total dollar amount of a
transaction. |
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| What is a transaction fee? |
This is the most unreported
gotcha. All processors have some sort of issue for this fee. It can be
frequently labeled watts fee, item fee, transaction fee or POS watts fee or all the
above. If your processor is not charging a Transaction Fee, they could be putting in
their qualified discount rate giving them the ability to say "we don't charge a
transaction fee". This usually means higher processing rates |
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| Surcharges, mid-qualified &
non-qualified? |
| Everybody gets them, few understand them
and fewer still do anything about it. This is the built in fudge factor.
Usually Merchants don't even get quoted on it. What is it? The credit card
industry and it rates are based on risk. This risk is usually a surcharge rate added
above the qualified discount rate. There is no getting around it. All
processors are charged it and they intern pass it through to the Merchant with a mark up.
Since the Merchant usually does not even get quoted this rate, when they understand
it, the Merchant accepts and continues doing business with it. Once you've signed,
you are normally stuck with it. Be aware while looking for your next processor, make
sure you get these surcharges quoted. How do they work?
Mid-Qualified Surcharge
Set up for Retail Merchant Accounts under swipe rates - Key entering a credit card.
Did you know that keying in a credit card when set up under swipe conditions you
get surcharged if you don't answer the AVS questions asked from the terminal? What
questions? Street Address, Zip code, & CVv2 code. Each processor has the
ability to program your machine to ask these questions when they arise. You don't
get these questions? Surcharged.
Non-Qualified Surcharge
Set up for Retail, Mail Order/Telephone order (MOTO), internet accounts -
Most all Corporate credit cards, purchasing cards, business standard credit cards, and not
answering VAS questions on MOTO and Internet accounts gets this surcharge.
Businesses can come and go everyday with no risk of liability to pass on, therefore the
risk of a Merchant doing transactions with companies, consumers over the phone or on the
internet is higher. |
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| What is Debit Card Processing? |
| Comes in two forms. Off-line and
On-Line. Both forms require a VISA or Master Card logo on the debit or check card.
Off-Line Debit card Processing
Most common way to accept debit/check cards is handling it as a normal
credit card. Did you know that off-line debit card rates start 30 to 40 basis points
lower than the standard qualified discount rate. Industry standards say 60% of all
transactions today are from debit/check cards. You mean your processor does not have
a different rate for your off-line debit card processing? Whose getting all that
money? Be sure you get this rate quoted. Some processors try to average your
industry and don't offer a lower off-line debit card rate. This is not good most of
the time, because you don't know what percentage of credit cards taken are debit cards.
On-Line Debit
Card Processing
Pending your average ticket, this method of accepting debit/check card is
the cheapest and most secure method available. In this type of transaction, the card
must be swiped through the machine and a PIN number entered by the consumer. This
PIN number is encrypted and sent to the processor and then the consumers bank for
verification of PIN and the amount of the transaction. Processors are getting pretty
sneaky with this one but the best we have seen is so much cents a transaction, period.
Example On-line debit card is $0.65 a transaction, your Off-line debit card rate is
1.30% Discount + $0.25 a transaction. On a $100.00 sales your cost for online is
$0.65 while Off-line is $1.30. However if your sale is $10.00 your cost for On-line
is $0.65 and Off-line is $0.38.
On-line debit card processing requires the use of a PIN pad. It can be
internal to your credit card machine or external through a cable attached to the machine.
Either way, ALL PIN pads must be encrypted by the the merchants
processor. Anotherwords, for the PIN pad to be encrypted and secure, the processor
has to physically encrypt it. |
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1-877-295-6789
