What makes Merchant Processing Solutions different?

 Service, Products, & People! 

Service: Merchant Processing Solutions has been servicing the merchants of South Florida and around the United States since 2006. We keep more than 80% of all our customers! That's because we are about the PEOPLE and not the TRANSACTIONS! What do we mean?

How should I accept payment for credit card sales? 

• Our Merchants are our lifeline. We make sure they are properly set up the first time and check in with them regularly to discuss any changes or issues with their merchant processing. Once an opportunity to change things for the better immerges, we quickly work with our merchant to give them the best available rates, products and advise.

• Timely communications: We deal directly with our merchants. They rarely have to call the 800# on their monthly statements. We take their calls, texts or emails and response in a timely manner. Most merchant processing companies demand that the merchant call the 800# and will not allow their own reps to intervene on the merchant's behalf! Not our company, we want to resolve your issues immediately because that is what we want to stand for.... Prompt effective service! 
  

We can offer a multitude of options to fit our merchant's needs! 

Products: Most merchant processing companies promote their own proprietary products and nothing else! Many banks have signed exclusive relationships with one processor who only carries one line of products and services! NOT MERCHANT PROCESSING SOLUTIONS!! We have made the decision to accommodate our merchants and not what pays us the most! Therefore, we can offer our merchants a large variety of products and services across multiple "Platforms" to accommodate your needs.

• Restaurant, Bar & Fast Food (including Food Trucks) Point of Sale Devices
• Retail Devices with or without Inventory/Clerk/Accounting 
• Mobile Devices with or without Printing capabilities
• eCommerce Payment Acceptance for Emails/Website/Text
• Call Center Payment Acceptance with or without Invoicing and Recurring Billing

People: Meet our most important asset; OUR  TEAM!

                             

OUR TEAM: Yamilet, Camilo, Claudia & Stephanie

• Yamilet Strauss: She is our CEO and a pillar of the business community in South Florida. She has been active in the South Florida area since 2001. Yamilet is a consummate network and astute business woman. She also share's her sister’s passion for helping underprivileged children in the United States and Latin America. Her success has been making the merchant's needs come first! Partnering with our merchants to see them success makes us succeed!

• Claudia Mosley: Is co-founder and CFO of Merchant Processing Solutions Inc. She has more than 18 years of experience in accounting, where she gained valuable experience in creating and implementing systems, policies and procedures to improve the bottom line of a merchant processing company. She is the heart of our company, always looking to find meaningful ways to impact communities with charitable activities. Her passion is to give to children as they are our future!

• Stephanie Cates: Joined Merchant Processing Solutions in 2016. She has 15 years in the industry. She is also the VP of Marketing and Sales. She helps our company communicate our desired mission and vision of consultants and win-win relationships with our merchants and vendor partners.  Our Mission Statement: Building Relationships Not Just Transactions! 

• Camilo Guzman: Joined the company in 2019 as our In-House Point of Sale Technician. Most local companies rely on 800# technicians to help with their installation and technical issues, NOT Merchant Processing Solutions. Make of our issues can be taken care of with just a simple call, text or email! But if an in-person visit is required, our technician is available to make that happen! 

If your current merchant processing company does not offer you 
SERVICE, PRODUCTS & PEOPLE, 
give us a call today! 

Merchant Processing Solutions Inc.
954-938-2420

Cash Discount Programs: Are they fair? Are they legal?

Imagine you go to the shoe store and after trying on several pairs, you decide on the perfect ones! You go the register to pay for those shoes that cost $129.00. Hand your credit card to the clerk who says nothing and the price scabs in as $132.87! What happened? The list price was $129! Your were surcharged or penalized for using your credit card! And that BEFORE TAXES!

Credit card processing companies and agents are popping up offering merchant to sign up with them using a “cash discount” program to eliminate your credit card processing fees; but are they legal? Are they permitted by the "Brands", Visa/MasterCard/Discover or American Express? Are they permitted in your state?

The answer: NO!

There’s a lot of confusion between “cash discounts” and “surcharges" programs. Many processing companies are actually labeling "surcharge programs" as "cash discount programs" misleading merchants into thinking that they are on the right side of laws and card brand regulations...and they are NOT! 

Cash Discount vs. Surcharge

A cash discount is when you list credit card prices and offer a discount on that price for customers who pay with cash. A cash paying customer pays less than the listed price. A credit card paying customer pays the list price.

A surcharge is when you list cash prices and charge an additional fee on top of that price for customers who pay with a credit card. A cash paying customer pays the listed price. A credit card paying customer pays more than the list price. 

The second example penalizes customer that uses a credit card in their purchases. All "Brand" agreements (that merchants have signed to get their merchant account) have regulations that prohibit the surcharging or penalizing of customers who choose to pay using their credit cards. So, if you charge more at the register than the listed price, it is a surcharge, regardless of what ANY processors want to call it. Even if the processor tells you that you’re simply adding a “service fee” or a “non-cash adjustment” it is still a surcharge.

I know, it's just a small technicality! It may sound like a minor difference, it’s actually very important in terms of legality and compliance with the "brand" rules merchants agreed to. Getting it wrong means risking fines or having your merchant account shut down permanently! For violations of the card brand rules, businesses can be fined $1,000 per occurrence, increasing to $5,000, $10,000, and $25,000 per occurrence for repeated violations. The merchant may be also be added to the Terminated Merchant File (“TMF,” or MATCH list) which makes it difficult to secure a merchant account from any processor in the future. 

Today's customers are very savvy and know that they should not be paying surcharges on listed prices without being advised that they are looking at CASH PRICING and a surcharge of X% with be added at the register. Visa and Mastercard have forms on their websites that allow cardholders/customer to easily report being surcharged a fee for using their credit card! Those merchants will be immediately investigated and fines levied. 

This is how a true Cash Discount is shown & explained in stores! 

Why does it matter? Two important reasons...

#1 - Real Cash Discount Programs, in their true form (see above), are allowed in all 50 states, however several states have laws against ANY surcharge programs. If you surcharge in a state with a law against it, you’re breaking the laws of that state besides breaking your merchant agreement with the "Brands".

As of 2018, surcharging is prohibited by law in Colorado, Connecticut,
Florida, Kansas, Maine, Massachusetts, and Oklahoma.

#2 Surcharges on Debit Cards are strictly prohibited! Even if debit cards are “run as credit” and even in states where credit surcharges are legal. The BRANDS clearly spells out that surcharges cannot be applied to debit...PERIOD! 

To summarize, you cannot apply a fee above the publically listed price to a credit or debit card, no matter what your processor calls the fee (a “surcharge”, “non-cash adjustment”, “service fee”, or anything else) even if your business falls within the states that allow surcharging as it goes against the regulations the merchant agreed to upon opening the merchant account. 

For the sake of your merchant account and your business be sure you’re on the right side of laws and card brand regulations before surcharging or signing up for ANY cash discount program. If you would like to know more about legal Cash Discount Programs, call us! 

Merchant Processing Solutions! 

954-938-2420

Invoice. Track. Collect. Easy.

MX Merchant's Invoicing 

Invoicing your customers is now integrated and effortless with MX Merchant BackOffice. Simply customize your invoice framework with a logo, header message and return policy then select a customer, enter the line item detail and click send.

SEND & RECEIVE

Sending invoices and receiving payments have never been easier. The option to accept credit card payments on a sent invoice makes collecting funds fast and hassle-free. Simply create your invoice and hit send. Your customers will receive an email and a text (optional) with a link to view their invoice where they can immediately pay with their credit card. The payment is then automatically collected, and your customer receives an email receipt at the time of payment.

HISTORY

Track the history on each invoice and any outstanding balances, and as payments are received the status of the invoice adjusts automatically.

RECURRING

You now have access to recurring functionality and can set up new recurring profiles to make collecting payments from your customers super easy.

REPORTS

View estimated and actual collected receivables from your recurring plans to help with forecasting cash flow.

 Merchant Processing Solutions Inc.
954-938-2420