Merchant Processing Solutions Inc. is a local south Florida company that provides merchant processing solutions to its merchants. We pride ourselves on honest rates, innovative solutions and intelligent technology to meet our customers' needs.
We believe that our customer is NUMBER ONE so their needs have become ours. We offer local support during the installation process and we understand what is going on behind every transaction.
Building Relationships not just Transactions.....
Digitally automate customer orders of goods and services. Creating better flow and increase sales. Already implemented in several industry types!
Ticketing booths
Airport check-in terminals
Food ordering kiosks at quick service and casual restaurant
Kiosks are designed to be durable, secure, and reliable, and they may also incorporate features such as printers, card readers, and barcode scanners to facilitate transactions and interactions with users. Kiosks are interactive self-service platforms that provide a range of functionalities to users.
POS kiosks are an all-in-one system. The point of sale software that helps a business accept transactions is installed into a kiosk. The kiosk is a terminal hardware where a customer can then place their own orders, buy their own tickets, or check out at a store by themselves without a cashier. All kiosk machines automate customer orders of goods and services. Creating better flow and increased sales. Already implemented in several industry types!
Podemos encontrar la mejor oferta posible que te beneficia.
Tu opinion importa y puedes ahorrar dinero al elegirnos.
Desponibilidad 24/7. Resolveremos todos los probelmas por usted, no un #800!
No tienes que estar en un CONTRATO; donde no tienes control.
No tienes que preocuparte por la installation de los equipos, la creacion del producto, or aprender al usario. Nos encargamos de todo para ti sin cargo extra.
Quiere saber mas? Llamanos al 954-938-2420 para una cita!
We LOVE FREE STUFF! But savvy purchasers know that this is ONLY a HOOK! It is designed to get you interested, make you sign up for something and then hit you with their real terms and conditions plus additionally needed products and services!
Examples:
Download a FREE Video Game through one of the App Stores - HOOK - To move forward and get points you must either listen to endless commercials or buy the points to continue playing!
Online, you find a product that says FREE just pay for the Shipping & Handling - HOOK! Once you pay the S&H with your credit card, the small, undisclosed print that is hidden somewhere, says they can now charge you monthly for the same product until you CANCEL! But you never signed up!!! It was suppose to be FREE!
As you can see there are plenty of FREE OFFERS but they ALL have stipulations that you need to know BEFORE you Sign-Up!
The same with FREE Merchant Services Equipment! Free is NOT FREE when the following conditions are present:
Long-Term Contract (3-4 years) with a large Cancellation Fee
No Warranty on the equipment after 1 year. If the device fails after year 1, you are totally responsible for the repair.
The merchant Rates & Fees are usually at least 50% higher than with NO FREE Equipment.
If you have a FREE POS System, you are responsible for uploading and maintaining all UPGRADES which many are then charged. Failure to NOT do the Upgrades can result in your account being CLOSED, as they can pose a Security Measures to protect your business and the processing company!
No help when installation, maintaining your system and growing your business!
Merchant Processing Solutions offers the following:
Equipment Purchases at our cost
Equipment Leasing with 48 hr. equipment replacement.
Bring your own equipment when applicable.
So before you focus on FREE, it really does not mean FREE with processing equipment, give us a call to discuss what a better option might be for your business!
Both receipts are legal... how would you like your business to run?
You won't need to change your shelf or menu pricing with either method! Simply offer a discount on items to your cash customers.
For most businesses, there's no harm in offering a cash discount IF you've set your prices to account for credit card purchased! This mean you have calculated your operating costs including the fees for accepting credit cards! We find it CRAZY that businesses forget to all those costs of financing their customers meals, products or service until they can pay their credit card bill! You see if you did not take credit cards, almost half your customer would NOT be able to enjoy your restaurant, store or service!
Whether you add a surcharge or reduce the cost if paying with CASH, you're passing the credit card processing fee on to your customer who enjoys the experience TODAY with the cash! No to mention points, cash back and more!
Want to know more about surcharging or cash discount? Give us a call today!
As we approach the 2023
Holidays, Merchant Processing Solutions suggests you look at selling HOLIDAY GIFT CARD compatible POS System. Gift Cards are the most purchased gift over the holiday
season. Last year, 2022, $899.3 Billion dollars in gift cards were sold. Gift
Card sales increase 114% from October – January each year.
Based on these stats, a business can increase yearly earnings by almost 20% with just offering Gift Cards for their products or services! This is certainly true for restaurants, cafes and coffee shops where these gift are perfect for employees, employers, teachers and other service individuals in our lives.
I warn you though, BE CAREFUL! There are companies that partner with Gift Card Companies that not only charge for the service but a percentage and even some charge transactions fees!
You also want to be able to design your own gift card and purchase the amount of cards you want to have on
hand. Make sure that the process to set up the Gift Card Program and the uploading of money to each card is simple for all your employees to do!
I believe this
could be a great program to kick off the Holiday Season and those SOLD CARDS
will be redeemed in 2024!
A 2-Step Verification puts an extra barrier between your business and cybercriminals who try to steal usernames and passwords to access business data. Turning on 2-Step Verification is the single most important action you can take to protect your business and personal data.
Keylogger programs enable hackers to spy on you, as the malware captures everything you type. Once inside, the malware can explore your computer and record keystrokes to steal passwords. That access can come from ANY internet login program including your MERCHANT ACCOUNT! When they get enough information, hackers can access other accounts on your computer, including your email, social media, and online banking.
Prevent hackers from accessing your account with an additional layer of security. When you sign in, 2-Step verificationhelps make sure your personal information stays private, safe and secure. In addition to your password, 2-Step verification adds a quick second step to verify that it's you.
Two-Step Verification is there to help protect!
We all know this additional step is annoying but necessary... but we at Merchant Processing Solutions want nothing more than your business to be successful without the horror of a hack, fraud and identity theft!
Globally, there have been more than 1.08 trillion digital payment transactions.
digital money transfer, digital and physical goods purchases, digital ticketing purchases, banking, NFC payments, QR code payments and bill payments, found the strongest growth will be in three markets; driving overall digital commerce adoption.
How can you accept recurring payments via your Website?
What are the benefits?
No more chasing clients for their payments!
Saves time: Customers no longer have to log into their bank or enter their account details whenever they need to pay.
Guarantees payments are made on time.
Boosts customer loyalty: Businesses can form closer customer relationships with a subscription model.
Predicts cash flow: Companies can better predict cash flow once recurring payments are set up.
Trackable payments: Both customers and businesses can track all their payments in one place.
Set your customers up for Recurring Payments and watch your cash flow improve drastically!
MX™ Retail is a comprehensive solution
for your business.
MX Retail handles all your sales & servicing transactions.
MX Retail offers a robust BackOffice management and inventory tool
On-boarding products, tracking
and simple to complex inventory sales.
MX Retail keeps all of your product information
organized and in one easy-to-use
location.
In the IOS product screens,
you can add a product name,
description, picture of the product,
create your own tags, variants and
options, organize your products with
collections, and manage suppliers for
quick ordering.
MX Retail also keeps track of your customers’ orders,
making it easier for you to quickly locate
the customers information and the
status, whether it is fulfilled, unfulfilled,
paid, and/or unpaid.
MX Retail manages your discounts in one simple
view. Discounts can be tedious, but with
MX™ Retail, they don’t have to be.
MX Retail has a large selection of reports:
Collected Taxes
Monitor invoices & Recurring contracts, and orders.
Profitability reports are also available based on the cost and sale price for each product as well as quantity sold.
User reports monitor User Sales, Tips to calculate commissions.
ACH Reports to monitor settlements > deposits > money into your bank account!
Venmo is a peer-to-peer (p2p) payment app, making it easy to send money to and from friends and family. It's widely used, you can send money by whichever payment method you want, and recipients get funds instantly. However, it was never really designed to be a payment method for businesses!
Negative Points to Using Venmo Apps:
Payments are public by default
Can't cancel payments
No international transactions
Popular with scammers
Besides, sending money to someone using a credit card, costs that person 3% fee. You can avoid this by paying with a debit card, bank account, or your Venmo balance. Your not really saving any money VS a legitimate merchant processing company like Merchant Processing Solutions!
If you receive money, you MUST move it quickly to your bank account as Venmo is not FDIC Insured so if your money disappears from your Venmo account for whatever reason, unlike your bank, you are NOT protected! !
There are two options to transfer your money to your bank account:
Venmo to your bank account fast: Instant transfers have a 1.75% fee, with a $0.25 minimum and a $25 maximum.
Venmo to your bank account that takes one to three business days to settle is FREE!
Although designed for personal to personal payments some folks have started using Venmo to get paid for business products and services. There are multiple reasons why you should NOT use it for business.
Your customer needs to also get set up as a Venmo user PRIOR to any transaction.
Your money is NOT secure! Venmo offers NO chargeback protection or fraud protection!
The buyer has NO protection if they send the money to fraudsters nor can they do a chargeback should they NOT get their product or service.
Also all the Negative Points from above on the P2P Venmo account
Many people I have spoken to, tell me they use Venmo like cash and feel they do not have to report their earnings to the IRS. In July of the year, the IRS changed the law and now if you collect $600 or more for the sales of goods and services through a payment services company you MUST provide your Tax Info and you will be sent a 1099 for all sales $600 and higher. If you do not submit your tax info for yourself or your business, the payment services company (i.e. Venmo) is required to withhold 24% of those payments and send it to the IRS for backup withholding. This is required by the IRS and helps to ensure that any applicable taxes due on these payments are paid.
If you want to get paid for your products and services LEGALLY, please give Merchant Processing Solutions a call so we can help you determine which product gives you the best solution for your business!
The three states with the most food trucks in the United States are California - 883, Texas - 744, and Florida with 725 respectively. There is one food truck for every 37.7 persons in these states!!
Average food truck revenues typically fall between $250,000 and $500,000 if they are still operating after 3 years. The food truck industry is worth $1.2 billion and is expected to grow 3-5% in 2023.
The food truck industry's market size has grown by an average of 4.9% each year since 2018. That's a 25% increase! The demand for food trucks predicts this industry to grow even more in the future.
As of May 2023, the industry's market value is $1.49 billion. That's up from 2020's $1.1 billion.
With everything that is great about this unique industry, 60% of the food trucks fail the first year! That number jumps to 45% within the first five years and 65% for the first decade. But if you were in the restaurant industry, you have it even worse! The same 60% of the restaurants also fail in the first year, but 80% fail within the first five years. Operating a successful food truck is hard but not impossible!So lets understand why!
Merchant Processing Solutions has worked with Food Trucks and Restaurants in the South Florida Business Community and knows what it takes to have a successful Food Truck Business!
Here are 5 Ways to Avoid Mistakes and Fail in Your Food Truck Business!!
Know Yourself:
What value will you bring to this business?
Are you the chef?
Financial person?
What is your position and job with this business?
Know Your Product or Service:
What are you selling? WHY? Who does it benefit? What makes your product or service BETTER than your competitors?
Is there profitability doing this business?
Do not just buy the cheapest equipment! Research the options your truck needs to be successful and grow.
Make sure you get set up to accept CREDIT CARD PROCESSING with Merchant Processing Solutions, we know how to get you set up and be successful!
Knowing Your Audience:
Who are you looking to sell to, why?
What are the benefits that your target audience wants or needs?
Can you deliver the product or service easily to that target market?
Can you effectively meet the demand of your audience?
Know where you’re going to sell your product or service from the food truck:
Research the licenses required in your city/county/state.
Research where there is a large percentage of your target market and see what locations are available PRIOR to investing your money! You may have a great idea for food, know your target market, get everything ready to only find there is NO WHERE FOR YOU TO PARK AND SELL!
Without this step, you can quickly become unprofitable.
Please give Merchant Processing Solutions a call today for a free consultation!
Merchant Processing Solutions has been working with non-profits for many years. We understand they issues and can help mitigate their high costs of merchant processing along with providing them more effective ways to connect to their customers!
Non-Profits absolutely need a website to share their mission and collect funds
Non-Profits should have a mobile device to accept payments in events
Non-Profits need a BackOffice that captures donor information and payment history
Non-Profits need to include a Payment Link or QR Code with any emails or letters sent to donors
Many non-profits start with their bank that hands them a terminal that can only take in-person payments within incurring a penalty fee and higher rate for over the phone payments! Then they go to a different provider like PayPal for their website, then they add a mobile card reader for events!!! That's 3 or more separate accounts! STOP THE MADNESS! We offer one account that can capture payments on all the above mentioned payment connections! You can do the following:
Website Donate Here button
QR Code at table at events
Payment Link under your signature line for donations
A mobile device connected to a cellphone for in-person donation acceptance
All patron information is stored in one Backoffice along with their payment history!
The easier non-profits make it for people to donate, the more they will attain their goals!
Unfortunately, it's not just getting donations, its also paying a reasonable price on your merchant processing of those credit card donations! Merchant Processing Solutions prides itself on offering non-profit rates and fees to help reduce the impact of credit card fees.
Want to learn more or speak with some of our Non-Profits that enjoy the benefits of working with MPS? Call us today!
How a transaction dispute and chargeback is processed!
A customer, for a number of reasons, doesn’t recognize a charge on their credit card statement or does not agree with something on that charge, contacts their CREDIT CARD issuing bank to dispute the charge.
The CREDIT CARD issuing bank reviews the customer’s dispute. They may deny the claim OR accept it.
If they siding with the customer, the issuing bank takes the cost of the CNP transaction plus any additional fees (Chargeback Fees - Approximately $30.00) out of the business’s merchant account. The issuing bank may refund the customer’s money, satisfying the customer.
The CREDIT CARD issuing bank records the chargeback information and relays it to the business’s Merchant Processing bank.
The business’s Merchant Processing bank reviews the data and either resolves the issue with data on file (like duplicate charge) or notifies the business.
If the Merchant Processing bank forwards the chargeback to the business, the business can accept the chargeback (lose the money) or dispute it back. The merchant will have to provide evidence that the customer made a legitimate purchase, knew the price, agreed to the price and received their purchase from the business. Providing evidence can be difficult if the business doesn’t know what is needed to RESERVE the Chargeback!
With the merchant evidence in hand, the Merchant Processing acquiring bank represents the business’s chargeback dispute to the customer’s CREDIT CARD issuing bank. If the issuing bank sides with the business, it returns the transaction amount to the merchant account. If the issuing bank sides with the customer, the chargeback stands, and the business can pursue arbitration. In some cases, the issuing bank sides with the business but files a second chargeback if new information further supports the customer’s dispute.
STOP LOSING CHARGEBACK DISPUTES!
The merchant loses a lot when they lose a Chargeback?
Lost merchandise.
Chargeback fees (Typically $30 each)
Shipping costs.
Potential credit card penalties. (Some processors drop merchant that get too many chargebacks due to RISK!)
High transaction fees. (Merchant Processors purposely charge more in fees and rates to companies that have a tendency to receive Chargebacks) Example: Travel Industry, Elective Surgery, Energy & Vitamin Industry are a few)
Network termination. (Even the Brands can cancel a merchant if they deem them a HIGH RISK due to many Chargebacks!)
When you work with Merchant Processing Solutions, you have a merchant advocate that will notify YOU of a new Chargeback. Tell you what the issue is and how we can dispute it to KEEP YOUR HARD EARNED MONEY! If you are losing money every month due to Chargebacks, call us today and let us help you keep your money by winning the disputes!
Merchant Processing Solution is a local South Florida merchant services company that has been involved with the business community since its inception in 2006! Connecting and Networking is synonymous to the MPS mission. We believe that when we gain a new merchant, in fact, we have gained a new Partner!
The MPS TEAM is actively participating in many civic and business organizations like the Ft. Lauderdale Chamber, Miramar Pembroke Pines Regional Chamber, Weston Florida Chambers of Commerce. We also individually participate in business leads groups granting us the opportunity to recommend our merchants to other potential customers! Its amazing what can happen when we reach out and connect our merchants to other B2B Businesses!
If you do not have a local merchant processor, you are missing out on the potential networking and promoting opportunities given you by Merchant Processing Solutions! Call us today!
When searching for a merchant processing company, you need to do your homework! Don't just go online, sign up with your bank or anyone else until you get a true understand of your company's needs and budget for your payment processing needs.
What do I need to look for in a merchant services company?
Are they a local company that can come to you for consultation, installation, training and customer service issues.
What is they pricing model? What are their monthly fees, brand assessments, and fees?
Interchange Plus Pricing
Flat Rate
Tiered Pricing
How effective and responsive is their Customer Service?
Do you have a dedicated merchant processing rep that knows and understands your business? Do you have their cellphone #?
Is the merchant processor offering you the right product for YOUR BUSINESS or the only product they have that they can sell/rent/lease to you! Do they offer multiple avenues to accept payments within the same account:
eCommerce for websites
Retail for in-person sales
Mobile for remote credit card capture
Invoicing or Recurring Payments sent via email
Virtual Terminal for phone sales
QR Code embedded for Text/email/paper payment
Merchant Processing Solutions is a local South Florida company that prides itself on personal customer service, individualize consulting based on YOUR BUSINESS not what we want to sell and fair, transparent rates and fees!
Check out other processors but make us last, you'll see the difference!
A credit card processor makes it possible for you to take credit card payments by connecting the various services involved in the process. These include credit card networks (Visa/MasterCard/Discover/American Express), issuing banks (the customer's credit card company (Bank/Disney/Amazon) and your own merchant payment processing account (Merchant Processing Solutions or others).
When a customer swipes their credit card at a store or pays online, a credit card processing company (MPS) enables the secure transfer of customer data for payment approval to the Networks, collects the funds from the issuing bank (customer's credit card company) and deposits those funds to the YOUR BANK ACCOUNT within one to two business days.
Prior to this automation, stores would use a "knuckle-buster" machine and swipe a carbon copy of your credit card which the customer would sign. Those would be mailed off to the correct Network. A merchant would get a check sent to them about once a month with their funds! Today, in-person collection of payment pays merchants in 24 hours while card-not-present collection takes 48 hours. As long as the merchant closes their BATCH/SETTLEMENT prior the the processor's daily cut-off time for batching!
Want a knowledgable and honest Merchant Processing Solutions is your answer!
CLOVER OFFERS THE BEST POS FOR ALL TYPES OF RESTAURANTS!
Clover has implemented a business model similar to Apple, the customer purchases their POS device with basic functionality and purchases additional features from an app store; only using what they need! Clover POS systems include accepting payments of all forms, reporting, managing orders, inventory and employees. Users can add things like payroll, gift cards, and other business management tools. So it basically fits all types of Restaurants and their size!
Pros
A choice of 4 advanced POS devices each by itself can be a standalone system!
A large selection of third-party integration apps such as Marketing, QuickBooks Integration, Waitlist, TimeClock, SeatOn Reservations, Menufy Online Ordering and 193 more!!
Cons
Prices are determined by the level of data you wish to handle on your system.
Some users have complaints about difficult installation, faster access to customer service and inevitable equipment failure! As with ALL POS Systems, what happens when something goes wrong?? With Merchant Processing Solutions, you will NEVER have any of those issues... here's why!
Camilo Guzman, Clover Expert Tech
Merchant Processing Solutions heard their customers and hired a full-time Clover Technician. Introducing Camillo Guzman, a 15 year IT and POS Engineer that also was the General Manager of several South Florida Restaurants for more than 7 years. Camilo understands the restaurants issues and how to make them run smoothly and effectively. Once introduced to the Clover POS for Restaurants, Camillo was hooked! The systems allows for full integration, mobility and functionality for the restaurant needs. The restaurants pays less for merchant processing while the staff makes more in tips. Everyone is happy!
Call Merchant Processing Solutions TODAY to speak about getting switched over the Clover. Merchant Processing Solutions makes Clover the BEST POS for Restaurants!
Yamilet Strauss, owner of Merchant Processing Solutions
One of the first things merchant processing providers look for in order to approve a merchant account; is credit worthiness! The business' tax returns, bank accounts along with owners' past history and credit score. A high-risk merchant is a business that provides products or services that are subject to regulations, laws, fraud and chargebacks!
The Risk that processors look for are one of these 5 types:
Financial - Does this business sell high-ticket items or services that with a couple of bad sales and chargebacks could close the company?
Example: Accepting credit cards on car purchases. If the customer finds an issue with the car, the BRANDS allow up to 180 for the customer to do a chargeback!
Reputational - Does this company fall within the "norms" of acceptable products or services?
Example: Airlines typically have terrible reputations for poor service. In 2021, it was reported that 25% of airline customers requested their money back, in the form of a chargeback!
Legal - Is this company legal or fall within the gray lines of the law?
Example: Medical and Recreational Marijuana is not legal in all states yet. Even illegal in some areas where the state approved usage but not sales! Legally selling regulated products or services is tricky and leaves the business open to constant chargebacks!
Compliance - Is the business compliant with all the rules and regulations enforced for their business?
Example: A company that sells vitamins that are not FDA Approved is a risk for merchant processors as if they do not "fix" or do what the customer expected it to do, they do a chargeback!
Operational: Is your business a "custom" product or service? How much of your business is shipped? How many overseas clients do you have? What type of employees to you employ? All of these "operational" risks can make a business a "high-risk" merchant.
Being in a high-risk industry increases the likelihood of being labeled a high-risk business. A burlesque club automatically goes into the "Adult Entertainment" category under high-risk.
Selling high-risk products can also puts a business into the high-risk category
High-risk businesses have a much higher possibility of financial failure than traditional businesses. That is why it is very tedious to get approved for a merchant account. Merchant Processing Solutions has help many high-risk merchants get approved at REASONABLE RATES for their business. Let us help!
Call Merchant Processing Solutions today at 935-938-2420
Over the past 8 years, digital wallets or mobile wallets have become a leading online payment method in North America. A 2023 FIS (Fidelity Information Services) Global Payments Report says that the use of digital wallets (Apps) by consumers in the United States and Canada has gone from 14 percent in 2014 to 32 percent in 2022. They predict that by 2026, digital wallets will make up 41 percent of all ecommerce transactions and 16 percent of POS transaction in those countries. Merchant Processing Solutions includes these digital/mobile wallets apps in their payment solutions!
In the United States, digital wallets are widely used for Ecommerce purchases (32%). While Credit Card payments to Ecommerce sites is 30% and using Debit Cards for online purchases trails at 20%. In 2022, Digital wallets made up 12 percent of the total U.S. POS transactions!
Digital/Mobile Wallet Apps
Today, about two-thirds of American adults use digital wallets to make purchases showing the global shift in payment habits. These are the main mobile Apps being used!
PayPal
Venmo
Cash App
Google Pay
Apple Pay
Interestingly enough, 31% of Americans surveyed, said they funded their wallets with Credit Cards; 33 percent said they used Debit Cards to fund their digital wallets. Which type of cards a consumer can attach to their wallet app depends on the app.
Based on this information, merchants need to make sure that they are ready and able to take digital/mobile wallet payments both online and in-person via terminals/POS Software. It would be bad business for a merchant NOT to accept these types of payments that NOW make up 32% of all sales in the United States and Canada!
Unsure how to get set up to take digital/mobile Apps? Call Merchant Processing Solutionstoday, we can help!
Support from a company can feel worse than getting a tooth extraction! The time you waste waiting for someone that may or may not be able to help you, takes time away from what makes your MONEY! Let Merchant Processing Solutions be your Clover POS company! We have 2 in-house, bilingual, Clover Techs and your rep will always be there to help you navigate the murky technology waters!
Claudia, Yamilet and Stephanie are your first line of defense when dealing with our company! We want your business technology to work seamlessly! BUT if anything is needed, giving us a call with quickly help get the problem resolved without you spending hours working with a customer service rep that has NO VESTED INTEREST in your business! We care about your business!
Terrific Customer Support is the key to a great CLOVER POS!
How do I set this POS System up?
When do I have the time to add employee info?
How do I know what is being collected????
How do I add my inventory, categories, & modifiers?
How do we install this POS System?
HELP!
If you feel like this about your POS System, please give us a call!
Clover is ideal if you're a growing business that needs to manage multiple employees, as well as keep track of inventory and customers. It can give you the ability to collect customer feedback, easily track sales trends, set employee hours, manage payroll and more without paying an extra monthly fee.
More importantly, Clover's mobile design makes it easy to hand over payment devices to customers and accept payments (including credit, NFC, EMV, and signature/PIN debit). Customers can be at the counter, in line, or on the go quickly and efficiently with Clover.
The Clover Flex boasts a built-in printer, camera, and QR scanner, as well as 4G/LTE and WiFi connectivity options. Customers like not seeing their credit cards leave their sight! And employees like the built-in tip feature...never missing the opportunity to get rewarded for good service!
Clover allows the business to know who, what, when and a transaction was run. No more guessing! Whether you have the Clover Station, Mini Clover, Clover Flex or the Clover Go, you'll be able to check the Clover Dashboard on your PC or Smartphone to see how you business it doing; whenever you want!
Give us a call today to see how this great POS System can help your business grow!
PS We specialize in setting up Clover in Restaurant environments!!
¡El propietario, Gerard Abraham, de Colombian Mountains Cafe, agradece a Merchant Processing Solutions por configurar su procesamiento comercial para que su empresa ahorre más de $1200 por mes en comparación con su procesador anterior!
Si no está
satisfecho con las tarifas de procesamiento de su comerciante, llámenos y lo
ayudaremos a ahorrar hoy.
Claudia Mosley, Colombian born, United States Citizen talks about her rise from immigrant to female entrepreneur with her successful business Merchant Processing Solutions!
Merchant Processing Solutionswants to inform and help our South Florida Business owners get the best processing available to meet their needs along with the best pricing. Give us a call and let us help!
Merchant Processing Solutions is a local South Florida company that also has a national reach to Colorado, New York, New Jersey and anywhere else! We are not only your sign-up rep, but your consultant, installer, and customer service person. We pride ourselves on being available to help our merchants get whatever done they need in the processing industry while they grow their business!
Claudia Mosley, VP Merchant Processing Solutions
We highly encourage our merchants to know & understand their rates and fees! We also have no contract for our merchant services. Our goal is to create a WIN-WIN environment that makes our merchants want to stay with us!
If you have not seen your merchant reps since the day you signed nor know how to find your rates and fees, call us today!
The Venmo app, owned by PayPal, was built for peer-to-peer payments, for sending and receiving money between friends and family. Its personal accounts app is not designed as an online payment solution for small businesses.
Claudia Mosley & Yamilet Strauss,
owners of Merchant Processing Solutions talk about Venmo!
Venmo has two types of products:
Venmo Family & Friends:
Venmo recommends you make VERY SURE you are sending your payment to the correct "John Smith"! The person has to also have a VENMO account to participate in the money transaction. Once your payment is sent, there is no getting it back if you sent to the wrong person.
Sending "peer to peer", means you trust that person. You send the money and it goes into the person's bank account. There is no fee to do this type of transaction.
However, Venmo strictly prohibits using Venmo Family & Friends for any business dealings! See below:
The Venmo app was built for peer-to-peer payments, i.e. for sending and receiving money between friends and family. Its personal accounts are not designed as an online payment solution for small businesses.
Venmo Business:
Requires the business to set up a separate "business" profile.
Merchant is charged 1.90% and $.10 per transaction and 1.75% for daily bank transfers! (It is free for 3-5 days transfer hold.) Your total cost per transaction could be 3.65% and $.10! (This is much higher than Merchant Processing Solutions)
All transfers are reviewed and could be declined, delayed, or blocked if they identify any issue. Reviews may result in your funds being frozen or removed from your account indefinitely!
All support is via Chat or email; no live contact. You are on your OWN!
Chargeback issues
Payment issues
You will still get a 1099 for IRS Reporting letter at the end of the year.
Lastly, your customer, paying with a credit card will be charged 3% to process as well.
VENMO is actually taking 6.65% on each transaction!
Nothing in this world is free or even cheap! There is ALWAYS a gimmick!
But NOT with Merchant Processing Solutions! We are transparent with low pricing and NO contract. Call us BEFORE using VENMO, we can save you money and headaches!
Most of the mainstream merchant processing companies and banks do not want "high-risk" businesses! They are concerned with disgruntled customers that do chargebacks or legal issues that might arise from a high-risk industry!
If your company falls into the "high-risk" processing needs, call Merchant Processing Solutions and let's see what we can to differently to get you up and accepting payments!
Want some expert advise on how to get set-up on a high-risk merchant account?
Merchants are constantly complaining about their merchant processing rates. But they don't ever seem to understand why they are paying so much or how to change it! At Merchant Processing Solutions Inc, we pride ourselves on consulting with our merchants to understand their frustrations, payment method and their cost of accepting credit cards. Here are some of our findings:
The Merchant is set up on the wrong payment method! There are basically 3 main payment methods that merchant processors use on their accounts; Interchange Plus Pricing, Tiered Pricing or Flat Rate Pricing.
Interchange Plus Pricing is passing along the wholesale rates to our merchants and ONLY adding a flat (smaller) percentage for our company to do the processing and payment of transactions.
Tiered Pricing is qualifying credit cards into Debit (Signature) Credit, Credit, Rewards Credit, and Business/Corporate Credit cards. They basically start with a FLAT RATE and take away points for the Signature Debit Cards and then add percentage points for all of the higher categories. Its very hard to understand your rates under this method.
Flat Rate is just what is sounds like ONE FLAT RATE FOR ALL TRANSACTIONS! But the rate chosen for that rate is typically based on the highest credit card rates. So even for a Signature Debit Card that is .05% you would be paying 2.75% and higher and losing a lot of money if you typically accept a lot of debit type cards!
We periodically find businesses using terminals to key-enter, phoned-in payments! Card-not-present transactions are typically about .30% higher than swiped transactions. And when you key-enter the card into a terminal there is an additional penalty added to your rate! We ALWAYS recommend a business use the correct equipment to give them the best rates!
Rates are lower when the credit card is present!
We also hear from businesses that they have NO IDEA how to get their online statements, they don't know if they have a contract or how to even call Customer Service! With Merchant Processing Solutions, this will NEVER happen! We are your local consultants, customer service person and NEVER have a contract!
Want to learn more about how YOU can save money on credit card processing? Call us today!
What is changing?After April 3, 2023, merchants will no longer be able to accept payments using PayPal Here devices or the PayPal Here app. This means you will not be able to accept PayPal Here payments using your device or via the PayPal Here app from that date. You can continue to use your PayPal account as normal. Any user who purchased a new PayPal Here device on or after February 1, 2022, will automatically receive a full refund for the PayPal Here device purchased. This refund will be deposited into their PayPal account before the end of March 2023.
Will my PayPal account still be active?Yes, your PayPal account will continue to work. There will be no impact on or change to your PayPal account when PayPal Here is discontinued, and you can continue to use your PayPal account as normal. You will not be able to do in-person transactions only key-entered at the higher rate and transaction fee.
Will the PayPal Here app and SDK still work? After April 3, 2023, all elements of the PayPal Here product including devices, the app, and SDK (API connection to another app) will no longer be supported in the US and will stop working.
When will the devices stop working? PayPal Here devices and the PayPal Here app will cease working after April 3, 2023.
What if I purchased a device before, February 1, 2022, do I get a refund? Only new devices purchased on or after February 1, 2022, will be automatically refunded.
When will my device cost be refunded?If the PayPal account you used to purchase PayPal Here is still active, you will receive your refund before the end of March 2023.
Do I need to return the PayPal Here device?No, you do not need to return the devices. We advise that the device be disposed of responsibly using a local e-waste recycling option.
Is there any sensitive data kept or stored in the device I should be aware of when throwing it out? No, the PayPal Here device does not store or retain any sensitive data or personal or payment information.
Will the PayPal Here device work with other payment service providers?No, you will not be able to use the device in any way after April 3, 2023.
How will this affect my third-party point of sale (POS) application? Please contact your point of sale (POS) software provider for alternative mobile POS terminal/card reader options.
Is there an impact on my (online) PayPal fees?There will be no impact on your existing PayPal fees.
Will I be able to download my sales activity after April 3, 2023? No, the PayPal Here app will no longer be accessible after April 3, 2023. However, you will still be able to view your transaction activity by signing into your account at www.paypal.com.
What if I need to refund a customer after April 3, 2023, for a sale made using PayPal Here? You will still be able to log into your account at paypal.com, review past transactions, and process a refund if necessary.
No need to panic, this advanced notice will help you prepare to lose your PayPal Here processing method by getting an even better one!
Call Merchant Processing Solutions today to get some advice on how you can get set up on an even better processing system!
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