We have been ripped off repeatedly by these crroked companies and have put together a list of necessities:
1.) Competitive rates (Obviously)
2.) Lists all card categories on statement (regular cards, debit, rewards, key-entered, corporate, etc.) instead of "discount", "mid-qualified" & "non-qualified"
3.) Has a defined service and support program for any issues
4.) Online statement AND transaction access
5.) No term agreement
6.) Supplies equipment that can be used with other processors (our current terminal can only be used with our horrid processor)
Also, what is a competitive rate for a MC, Visa, debit, pin debit, Visa Reward, MC World and any other cards you can think of for face-to-face and telephone order?
Here is my issue with credit card processors:
Email 1 from Mae who responded below:
"JB,
First, I would like for you to visit our corporate website to see if you would be interested in our service. We can solve your payment processing and generate more money for you company.We offer your concerns and are here to service you with open arms. Please go to: www.virtualmoneyinc.com
You will have to contact me if you are interested and need more information."
Waiting to hear back from you! Can you please forward me your contact information for yourself and your business?
Marian Hall
Virtual Money Agency
Authorized Reseller
601.408.3888
www.virtualmoneyinc.com
There was no useful information, so I asked for more for answers to my questions- this is what I got back:
That information is only given to businesses who are serious about doing business with us, so it is not on the site. I asked for your contact information so that we could set up a call and answer any questions that you may have.
We are the Inventors of CARD-to-CARD Money Transfers world-wide…
Our ATM Stored-Value CARD complies world-wide everytime in 3 seconds!
Our technology will either Save you, your company or organization $$$ OR
Our technology will Make you, your company or organization $$$"
Call for an Appointment & Get the Details! *Presently serving 210 countries!
*The Card you can Bank on!" …"because money should have No boundaries!"
*No Implementation Changes to your systems….Use any Web browser!
*We can Tailor to fit your WANTS & NEEDS!
And more blah, blah, blah.
Again, does anyone know of a merchant processor that isn't a crook?
A little tough on Mae there, "backup"!
I believe you will find quite a few of the things you are looking for if you check the source location listed below. I would be very interested to learn how you compiled your criteria list - it looks like a direct match.
As for your competitive rate question, this would depend on your volume. MasterCard and Visa charge ALL merchant processors the exact same interchange rates. What these merchant processors charge you usually depends on what your expected volume is. The higher your volume, the lower rate they can charge and still have an acceptable margin. Check out greensheet.com, the merchant processing industry news source, for more info about this.