Category Archives: credit card processing pricing and rates
The FD100 Ti is an affordable, all-in-one terminal solution for retailers, restaurants, quick service restaurants, mail and telephone order, grocery stores, and electronic commerce. This terminal is one of the fastest, sleekest terminals available. Here are the FD100 Ti specs.
-Easy to use touch-screen display. 128 X 64 graphic LCD display.
-Fast terminal downloads using IP or dial-up over a standard 56K modem.
-Easy support of IP and dial-up with secure SSL encryption.
-True 32 bit processing (ARM 920T 32-bit CPU core).
-Quick and Easy drop-in paper loading system.
-Compact design with sleek titanium look.
-Upgraded, faster CPU (ARM 9 400Mhz).
-Windows CE 6.0
-Verification and processing capabilities for ATM, debit, EBT, and check payments.
-15 line per second printer capability.
-Merchant friendly one-touch daily functions.
-Three-track magnetic stripe reader.
-64 MB RAM standard memory.
-Three USB ports.
-Address verification system.
-Simplified support and installation.
-2.25 inch wide thermal roll printer
Installation of the FD100 Ti is quick and simple. A few minutes is all it takes for set-up. Contact PaymentMax to get started processing with the FD100 Ti.
Saving money on credit card processing fees can be as simple as maintaining credit card terminals. Improper cleaning and maintenance can lower the “swipe-ability” of credit and debit cards, ultimately costing merchants more to process them. Here are a few quick, and easy tips to maintain your terminal.
1. Clean the magnetic stripe reader on the credit card terminal frequently. Card reader cleaning cards can clean the read head and entire track of a magnetic stripe reader in one pass. Or, try a clean new dollar bill wrapped around a credit card, and swipe through the magnetic reader. Compressed air can also remove lint, crumbs, and other contaminants from the machine.
2. Replace old terminals that are not reading credit cards like they used to, or consider replacing just the magnetic reader.
3. Complete terminal failure may indicate loss of power, the need for the machine to be reprogrammed by the merchant services provider, or a broken terminal. First check the power source, if there is power to the unit-a simple reprogram may be needed. If the unit is plugged-in and there is no response, the terminal may need to be repaired or replaced.
Proper cleaning, maintenance, and replacement of non-functioning credit card terminals will improve swipe rates, and save merchants money on downgraded, keyed-in transactions.
According to AppScout’s article, “Retrevo Study Finds Mobile Shopping Taking Off,” 20% of consumers have purchased something from their retailer with a mobile phone. A staggering increase in just a few months. Another 27% of responders said that they had not purchased using a cell phone yet, but planned on it in the near future.
Businesses not accepting credit cards on their iPhones, Androids, or Blackberry’s can have cell phone processing added to their current merchant account quickly and easily. Opening up a whole new avenue for revenue! Customers are responding well to cell phone credit card processing.
Card associations have strict rules and regulations regarding merchant convenience fees. Surcharges are absolutely prohibited! Charging customers for using credit cards in a retail situation could have your merchant account terminated.
Here are the mandates for charging a convenience fee (in a non-card present situation).
1. Disclosure of fee to customers.
2. Non-face to face transaction. Retail businesses cannot charge a convenience fee.
3. Flat or fixed amount, regardless of bill amount.
4. Fee is applied to all forms of payment accepted in the alternative payment channel.
5. Convenience fees cannot be added to recurring transactions.
6. Third party’s are barred from charging a convenience fee.
7. Customer’s must be given a chance to cancel the transaction prior to completion of transaction.
8. Convenience fees cannot be advertised as an offset to the cost of processing credit cards.
Retail merchants are clearly prohibited from charging convenience fees to customers. However, they are allowed to offer a cash discount to those customers paying with cash. The discount would be given to those customers paying with cash, and would be clearly disclosed as a “discount” compared to the regular price. Merchants offering cash discounts must be sure they are obeying all applicable laws and regulations.
Business owners are all too familiar with merchant account downgrades. These downgraded transactions cost more money to process, and are typically referred to as mid-qualified, or non-qualified transactions.
Transaction downgrades can occur for a variety of reasons, like failure to batch on-time, use address verification (AVS) on card-not-present transactions, or keying in a card present transaction. While these downgrades are due to improper operations and can be controlled (for the most part), other downgrades cannot be avoided; these are card type downgrades.
Here are the credit cards that will process at a higher rate.
Strict card association rules prohibiting payment card discrimination prevent merchants from refusing these cards. Doing so could result in a terminated merchant account file (TMF). Merchants may not be able to control card type downgrades, but knowledge of their existence can help merchants understand their monthly processing statement better. An understanding that can be used to reduce controllable merchant account downgrades.
A common question asked by merchants interested in processing credit cards with their iPhone and PAYware mobile is can the application multi-task? Can I receive a phone call while I am processing a credit or debit card transaction? The answer is yes. iPhone merchants can still receive a phone call, even if they are in the middle of processing a sale.
This is how it works. A prompt will come up on the screen when a call is coming in. It will ask the user if they would like to accept the call, or decline it. If the user accepts the call, the transaction is put on hold, so to speak. Once the call is abated, the app will ask for the merchants password, and the transaction will be resumed.
PaymentMax introduces today that it can now support the iPhone 4 for credit card processing. Big news out there for the iPhone 4 business owners out there. Here are 10 reasons why processing credit cards with your iPhone 4 will leave a big smile on your face.
1. Anywhere you are processing.
2. No Supplies to Buy.
3. Earth Friendly.
4. Low card present, swiped processing rates.
5. Higher average ticket.
6. PCI compliant.
7. Reporting and tracking capabilities.
8. No customer lines.
9. Cool, Easy, and Fast.
10. Never turn down a sale again…even to those with no cash!
PaymentMax is pleased to announce that new, approved accounts will receive the ROAMpay mobile swiper card reader free. Benefit from the low card present rates by swiping your customers credit cards, anywhere, at anytime.