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Forum nameBiz Ingredients
Topic subjectRE: Setting up a new Merchant Account (accepting Visa/MC)
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=104&topic_id=181&mesg_id=201
201, RE: Setting up a new Merchant Account (accepting Visa/MC)
Posted by uhfmag, Sat Sep-22-07 08:54 AM
>I have solicited some "quotes" from different
>Merchant Account companies, and am having a hard time wading
>through all the marketing jive talk. Some offer great rates
>but only for "qualified purchases". Others offer
>great low rates for the credit card purchases but only when
>swiped, there's a different rate if you have to transmit the
>credit card number via phone, another rate for online
>purchases, and yet another rate for debit card purchases.
>
>Any suggestions in helping me find the lowest rates (for
>future use), and the best credit card service?

All credit card merchant accounts work that way, for better or for worse. There is one rate when the card is swiped, a higher rate if you take orders by mail, phone or your Web shopping cart, and another higher still if your Web site does automatic transactions, as software companies typically do. There's no way around that.

What you need is a set of rates that are reasonable. The best way to get that is by joining an organization (such as a local business or professional association) which has a contract with a merchant account company. And if you're a member of Costco Wholesale, that company offers a VISA/MC service at good rates to holders of its Executive cards.