Non-Cash Adjustment Program

Non-Cash Adjustment Programs is now legal in the State of Florida! Implementing a non-cash adjustment is another way business owners can offer a discount off of their listed, stated and advertised prices. Customers who pay with credit and debit cards do not receive the discount and will notice a non-cash adjustment on their receipt. 

This shows a flat rate but percentage can also be used.

There are rules and regulations to be followed but this program can easily help you lower you overall costs of merchant processing! Merchant Processing Solutions is offering a SUITE of processing options that are a COMPLIANT one-stop shop for fee based solutions allowing merchants to save money and provides you with new revenue streams!

Non-Cash Adjustment Program Rules: 

• Registration with the card brands is not required 
• A non-cash adjustment may be assessed as a fixed  amount or percentage and may be applied to credit cards and signature debit 
• A non-cash adjustment may be assessed in a Card-Absent Environment and Card Present Environment 
• The non-cash adjustment may not exceed the 4% cap

Payment Acceptance Connections: 

• In-person Terminals
• Over -the -Phone Payments 
• Invoice & Recurring Payments
• Mobile Payments
• Email Payment Links 

The Cost of this non-traditional Processing Option Program is $20.00 per month! 

Call Merchant Processing Solutions to get more details and save money! 

954-938-2420

BBB Rating A+, Google My Business 4.7

 

Is your merchant processing company local? Are they part of the Better Business Bureau in your community? Do they have a A+ Rating? 

If you are not sure, or know they are NOT....what are you waiting for? Merchant Processing Solutions would love to work with you and your business to give you the best service in the industry! Just ask our merchants! 

Reviews from Google: 

Norberto J. Torres - Kinesis Chiropractic

 27 mins ago

I had a wonderful experience working with Stephanie! Her attention to detail and her passion for her career made it a no brainer to work with her. I highly recommend Stephanie and her team!

    

Natalie Jenkins - Carpe Diem Inspections 

 4 weeks ago

Great business to work with. Just started my own company and weighed the different companies prices out and MPS was by far the better option. Stephanie answered all my questions and made things feel easier. I highly recommend Stephanie and her services with credit card processing.

 

Salerno Pawn and Jewelry

 6 weeks ago

Simply the BEST! Thank-you!!!!

Deborah Danto

 6 weeks ago

Yami, owner of MPS, is extremely knowledgeable and responsive with respect to providing solutions and customer service for our business and nonprofits for which we serve.

 

These are but a few of our glowing reviews. 

We want YOU to be one of our "Raving Fans"! 

Calll Merchant Processing Solutions

954-938-2420

Are You Taking All Your Merchant Deductions on Your Taxes?

 

Keep Track of Your Credit Card Fees, Chargebacks, & Refunds 

The law requires that banks and merchant processing service companies report GROSS REVENUE RECEIVED by the merchant. These entities DO NOT take into consideration the following: 

• Refunds - Merchants issue refunds days or weeks after a sale (the original sale is still counted in your Annual or Monthly Gross Sales
• Monthly processing fees (Your Annual Processing Fees only reports you TOTAL Sales without the Cost!)
• Chargebacks - Chargebacks are costly. Not only is the monthly pulled from your account during the arbitration period and if you lose, it is returned to the customer's credit card! But you also incur Arbitration Fees ($15 - $60) per incident! 
• Cost of Technology - Software and Hardware (either one-time purchase, monthly subscription fees or annual fees)

Are you overpaying the IRS on Credit Card Revenue?

Your Business needs to have accounting procedures in place to keep track of not only your sales revenue but your sales cost (which are NOT REPORTED IN THE MERCHANT SERVICES ANNUAL IRS REPORT) these separate items and YOU need to keep track of them! In other words, don't count on your Accountant or CPA to ask you for this information or actually find them in your paperwork. If your not TRACKING YOUR COSTS, you are losing a lot of money! 

It's simple, create a spreadsheet and then each month look at your monthly statement.    Record the following each month: 

• Total Revenue (found on first page of statement)
• Total Fees (found on the first page or at the end of the statement)
• The Fees will include any monthly fees, the rates paid for each transaction, any per item fees, authorization fees, Brand Assessment fees, any return/refund fees or chargebacks fees and PCI Compliance or Penalty fees. (Pay close attention to your fees)
• Check for any Chargebacks - Record that amount
• Chargebacks are sent to you from your processor by mail or email. Some companies have a BackOffice where you can find a section for NOTIFICATIONS, check there as well! Be sure to answer these chargebacks them in a timely manner!  
• Total Refunds/Returns given back to customers. 

Here's the difference between Merchant Processing Solutions and other processors:

1. We make sure you are PCI Compliant so you are not charged a high NON-Compliance Fee monthly!
2. We make sure you rates are low (interchange plus pricing) 
3. No minimum monthly payments
4. We get notified, along with you, when a Chargeback Dispute has been lodged. We make you aware of this issue and help your collect documentation necessary to win the chargeback.
5. We help you understand your statement and learn how to calculate you fees quickly and easily! 

If you would like to work with a professional team call 
Merchant Processing Solutions today! 
954-938-2420

Do I need Pin-Debit Processing?

 

Do I really save money with Pin-Debit Acceptance?

There are two tupes of Debit Cards: Signature Debit and Pin-Debit. So what's the difference?

Signature Debit: 

A signature debit transaction requires the cardholder to sign a receipt; either paper or electronically as a way of verifying the customer. These cards are processed via the BRANDS Network (Visa, MasterCard, Discover, American Express) and are subject to their interchange rate. These cards are treated just like a regular credit card and require NO Additional Equipment or Set-Up Fees. 

The rates and fees for the SIGNATURE DEBIT via the BRANDS NETWORK ranges from .05% - 1.65% with Transaction Fees between $.04 - $.30.

PIN DEBIT NETWORK

PIN Debit 

A pin-debit transaction,requires cardholders to enter their PINs (personal identification number) into the terminal to verify their purchase. Pin-debit transactions are processed through a different card netwrok called the PIN-DEBIT NETWORK. Some of the brands included in this network are: Accel, Jeanie, NYCE, STAR, or Shazam. The rates charged by these network brands are all different based on the pin-debit company choosen by your bank that assigned you your pin-debit card. You can find which one you have by looking at the front of your card!

The rates and fees for the PIN DEBIT NETWORK ranges froom .05% - 1.30% with Transaction Fees between $.03 - $.21.

PIN or Signature? What’s the best for my business?

Each business must decide for itself what it best for them. But here are some guidelines: 

1. If you do a lot of online or card not present transactions, Pin-Debit does not work for those transactions as it is ONLY set up for In-Person using a Pin-Debit enabled Pin-Pad.
2. You need to register with the PIN DEBIT NNETWORK brands and have an additional set-up on your merchant account. 
3. With the new Durban Ammendment, most Signature Debit credit cards are regulated and can only charge the merchant .05% plus the transaction fee. This is typically cheaper than the PIN DEBT NETWORK. 
4. Ask yourself, how many of my customers will pay me with a Debit VS Credit card. A debit card pulls the money immediately while a credit card will float the money until the bill is due. 

If you need help understanding of deciding on which is best for your business, please call us! 

Merchant Processing Solutions Inc.

954-938-2420

Choosing Merchant Processing Needs

 

What kind of merchant account does my business need?

It's so confusing!

Merchant Processing Solutions takes the headache and confusion out to choosing the best processing system and services to meet the needs of your business! 

When we consult with our clients, we make sure we understand the scope of their business. This way we can recommend the best hardware and software set up to meet the clients needs and to help them grow! 

We help our Merchants set up their processing accounts the right way; their way! 

Merchant Processing Solutions makes sure we set up your account, your way! A merchant account needs to be easy to operate, easy to learn, easy to understand and easy to grow with your business! 

• Traditional merchant processing (merchant pays fees)

• Surcharge the fees to the customer

• Do you need to create Invoices or Recurring Billing 

• Do you have a Call Center

• Do you need multiple payment acceptance connections: Mobile, Online, Invoicing etc

• Will you text, email or print receipts

• Do you want or need to keep track of customers, sales or inventory

• Do you want to connect your merchant account to QuickBooks

• Will you be using any industry specific software or hardware

• Will you be accepting checks

• Do you work with Business, Corporate or Purchasing Cards 

Please call Merchant Processing Solutions to find out how you can successfully set up a merchant account that gives you everything your business needs to grow and be successful! 

Merchant Processing Solutions 

954-938-2420

CHECK OUT OUR B2B BUSINESS SOLUTION!

 

Merchant Processing Solutions is offering different merchant bundles for different types of business! Which one are you?

You can actually save money processing credit cards with other businesses! 
Ask Us How! 

• B2B Solution: Helps reduce costs for merchants whose customers are other businesses! These customer rarely come to your place of business and mostly pay "CARD NOT PRESENT". We make sure that you have the right tools to get paid! 
• Invoice & Recurring Payment Collection
• Website Portal Collection
• Virtual Terminal for Call Center Collection
• Mobile Collection for Deliveries 

Get paid "Upon Delivery" with MX Express! 

We also set you up with our B2B Optimizer saving you thousands a year when you process Business, Corporate & Purchasing Credit Cards. Make your business run smoother and more cost effective with our B2B Solution. 

Call Merchant Processing Solutions Today @ 954-938-2420

Introducing Remote Capture & Deposit with MX Merchant!

Merchant Processing Solutions now offers ACH Deposits along with your merchant processing; all in one Point of Sale System!

Save Time: 

•     NO more trips to the bank to deposit checks!
•     NO more waiting for "checks in the mail"! 
•     NO touching checks; customers can input their checking info into Invoices, Website Payment Portal or call!

Save Money:

•     Saving your time or that of your employees to deposit checks into your account takes time which equates to money! Time better spent each week growing your business!
•     Give your customers multiple options for them to pay you with a check/ACH transfer that does not cost them any money; Like Zelle etc.
•     By taking ACH payments instead of Credit Cards all the time, you can save on processing fees! 

     Call Merchant Processing Solutions today to learn how you can "stop running to the bank"!!

Merchant Processing Solutions Inc.

954-938-2420 

    

 

🎄Merry Christmas & Happy New Year 2021!🎄

    

Merchant Processing Solutions wishes all our clients and friends a very Merry Christmas & a Blessed New Year! 

What's the Difference between Convenience, Surcharge & Service Fees?

 

Convenience Fee:

• A convenience fee is a fee charged by a businesses, government agencies, schools, etc for payments made by credit cards instead of cash, check, or ACH. 
• Before the decision to allow convenience fees in almost all states, only federal, state & local agencies were allowed to impose this fee when paying taxes, tickets, tuition etc! 
• A Convenience Fee is typically a fixed flat amount.
• Convenience fees are charged by businesses to cover the cost they pay for processing a credit card payment.
• There are strict policies and regulations when it comes to convenience fees and surcharges; make sure you kow them prior to setting up a program.

SURCHARGE FEE:

• A Surcharge Fee is a percentage charged by businesses/merchants to a credit card transaction to cover the merchant’s costs for processing that payment. Instead of the merchant having to absorb this expense, the customer who chooses to pay by credit card pays.
• Many know this better as "cash-discounting". The practice of offering a lower cost to customers that pay with cash instead of credit cards. 
• Surcharge Fees are still not legal in several states. 
• Rigerous posting that items or services are Cash Pricing and that use of a credit card will incur a Surcharge Fee.

SERVICE FEE: 

• Service Fees are charged by government agencies, schools, etc for payments made by credit cards instead of cash, check, or ACH. 
• A service charge is also a fee charged to customers for something specific, such as a bank charging a fee for using an ATM that's not part of its network or a vendor charging a fee for making a payment with a credit card.
• Service Fees can range from a convenience in the manner of purchase to a fee for faster response. Each merchant will impose their own Service Fee based on their business model.

Merchant Processing Solutions can help you understand your options and save money with one of our options. Give us a call today! 

Merchant Processing Solutions 

954-938-2420

So what am I paying for Merchant Processing?

I cannot tell you the number of times I ask merchants what they are paying and they do not have the slightest idea! They THINK they are paying less because they only heard part of the fees and not the whole fee structure! We, as a company, request a copy of our potential customers' statement to do an indepth analysis of their current processing and give them the results. We hope they decide to change over to our company since their company has been overcharging them for awhile. However, if they unfortunately are trapped in a long-term contract (we do not have a contract) or they are stuck using hardware or software that they are unable to get out of, they can take our analysis and ask their current provider to drop their rates! 

Merchant Processing Solutions Inc. Analysis Sheet

Merchant Processing Solutions calculated the volume of sales of each BRAND CARD (Visa/MasterCard/Discover/American Express) and multiply that by the percent charged by your processor for their services. We then add any monthly fees to calculate what they are charging. For our part, we tell you what we could have paid along with our monthly fees so you can see the difference between your current processor and our company! And of course, we would hope you make the change over to us! 

But how can I just see what I am paying myself? I mentioned in a previous post that the easiest way to keep an eye on your processing fee is to implement the NET EFFECTIVE METHOD:

•     Divide what you paid in Total to your processor in fees by the full amount of your Total sales for that same month. You will come up with the REAL percentage of what you are paying that processor. I tell merchants that if they were ONLY to do that each month, they would NEVER get abused by their processor. 

Based on the example above: 

•     Total Fees Paid to Processor: $3,206.67 divided by Total Monthly Sales: $126, 859.34 = 2.53% (See Net Effective Line in Analysis).

Merchant Statements appear to the average merchant as jibberish! So hard to understand!! Merchant Processing Solutions tries to help merchants get a handle on their merchant services costs and lower them substantially! 

If you would like to know what you are paying for merchant services or need our help to understanding your fees, call us! 

Merchant Processing Solutions 

954-938-2420

  

How to understand your merchant statement!

Understanding your merchant statement each month is upsetting because many companies make it next to impossible for you to decipher their terminology and fees. Let Merchant Processing Solutions give you some help with that! 

1. Know how to access you monthly statements: 
• Most companies today have a backoffice and you can access them there.
• Check your "snail mail" and OPEN IT! 
2. Read the "ATTENTION" box to make sure you understand increases in your rates or other information that effects your merchant account.
3. If nothing else, check your NET EFFECTIVE! 
• NET EFFECTIVE = SAMPLE Merchant Fees Below: ($593.47 / $23,850) = 2.49%
4. Check to see if you had Refunds/Chargebacks or any other "penalties" on your account.

Merchant Processing Solutions is looking to make each one of you informed merchants! If you would like to know more about your merchant account or looking to change processor, please call us and allow us the opportunity to show you an honest/local/professional merchant processing company: 

Merchant Processing Solutions Inc.

954-938-2420

Small business trends for 2022

This New Year is one of hope, as we slowly leave 2021, the year of partial recovery from the pandemic. Although every year is met with resolutions, new goals and expected change, 2022 needs to be the one your business heeds to! While trends come and go, it is expected that many of these are here to stay!

1. E-commerce businesses will thrive: 

E-commerce businesses that sell products and services online is huge. Just watch the news today to see millions have already shopped for Christmas online! Those millions of customer will most likely NEVER walk into an actual store! Great websites, easy to navigate shopping carts along with secure payment options can easily make a customer feel safe shopping from home. If you’re thinking about starting a business, save on the costs of a storefront and open an e-commerce business! Good Social Media & SEO will get a new business active quickly! 

2. Remote work will continue to be popular:

Remote work was a direct result of the Pandemic. Employers NEVER thought it would work! Employees will NOT be productive! Nearly half of employees in the USA worked from home in 2021 due to the pandemic, one good thing resulting from a bad situation! In fact, it has been seen as a blessing for many workers. 

Remote work has taught employers and employees that offering work-from-home options can:

• Boost productivity
• Attract and retain top talent (anywhere!)
• Improve work-life balance

3. Communication applications will only grow in importance:

During the last 2 years, families, friends and businesses have had to change the way they communicate with one another; REMOTELY! Applications and tools, like video conferencing software and messaging platforms, have been booming since Covid struck in 2020. Making sure you have remotely consulting options between your employees and their customers will be essential in 2022. 

Recently, I hear a business coach say the instead of driving 45 minutes to visit a client, she requested they Zoom consult. The client was reluctant at first feeling that they were paying for In-Person consultantions and not getting that benefit. However, within a couple of calls, the fact that the client also had the ability to just "jump-on-line" and have his call, made more sense that juggling workday inconsistancies and "squeezing-in" face to face meetings! The business coach says she now consults exclusively online! 

4. Cashless payments will become standard for businesses:

Digital Payment Apps

There was a time when cash was king; No Longer! Cash is one of the dirtiest things on the planet! Touch cash can lead to transmitting bacteria and disease. Businesses also have seen an up-tick in counterfiet money! Cashless payments are all the rage! 

Cashless payments can include a variety of payment methods:

• Credit and debit cards
• Mobile or digital wallets (think touch-free technology)
• Payment apps

As more cashless payment options will become available, your business may have examine your choice of processor. Not all cashless payment options are the same! Accepting standard payments like credit/debit cards can be expensive if the merchant just jumps in with their bank, or an unknown online source. Considering cashless payment options is what Merchant Processing Solutions offers its potential merchants when it comes time to pay.

What to look for in a merchant services company:

• Discount Rates based on Interchange Plus Pricing NOT FLAT RATE or BUNDLED RATES!
• No Contract 
• Local Customer Service, Installation and Consulting
• Transparency in statements, costs and fees

5. More and more events will be virtual events held online

Virtual events like conferences, meetings, and trade shows are becoming VERY POPULAR as they can help expand your reach and allow for more attendees. Or, hybrid events that are with both in-person and online options. Simple meeting businesses, customers, and employees save both time and create a safe environment for all! 

6. Personalized artificial intelligence will become more commonplace

Artificial intelligence (AI) is now part of our business world. This technology helps streamline certain tasks, and it’s going to become even more sought-after in the years ahead. Depending on the type of artificial intelligence your company needs, the technology can help you increase sales, gather customer data, and prevent fraud!

Here are just a few examples of AI in business:

• Chat Rooms on websites and social media
• Smart assistants (e.g., Siri/Goggle/Alexa)
• Facial recognition for Customer Logins on their accounts
• Personalized recommendations - Proprietary Mobile Apps
• Fraud-detection systems - Connected to your PCs, Website and Payment Gateways
• Personalized ads and marketing - Social Media/SEO etc

7. Video marketing will continue to grow in popularity

As a business owner, you must decided based on your loyal customers, what makes them buy your products and services? Video marketing is taking over the advertising work! NOT old school "hollywood" type of videos but consumer filmed videos, testimonials and helpful instructions, tips and ideas to make your product better! (See our example)

Merchant Processing Solutions Inc YouTube Channel

Video marketing offers many perks and opportunities for business owners to reach their potential customer; approximately 84% of people say a brand’s video convinced them to buy a product or service. And 54% of consumers would like to see more video content from a brand like instructions, support and tips! Incorporating videos into your marketing stragegy will be a MUST in 2022! Create real videos and upload them to different platforms, like Facebook, TikTok, and YouTube! Create your own YouTube Channel to market your company products and services! Mix it up with instrutional videos, tesitmonials and product introductions! 

Merchant Processing Solutions Inc. prides itself on knowing merchant processing trends and overall business trends that will help our merchants grow and thrive in today's volital business world. Consulting with our merchants allows us to better understand their needs and desires and give them the tools to accomplish those goals! 

Embrace, grow and thrive in 2022 with 

Merchant Processing Solutions Inc.

954-938-2420

How Versatile is Your Point of Sale System?

 

Today's Businesses need to accept payment from customer the way they want & need to pay! 

How many ways can you sell your products or services? 

1. In-Person Sales - Retail Point of Sale with Terminal for Tap/Chip/Swipe
2. Remote In-Person Sales - Iphone with Bluetooth Card reader for Tap/EMV/Swipe
3. Over the Phone Sales - QuickPay Virtual Terminal on a PC
4. Your Branded Mobile App - Your own mobile app with your products and services along with Payment portal.
5. Invoice Sales - Send Invoice with Payment Portal Included 
6. Email Sales - Add a "Pay Here" Button in and email for payment
7. Website Sales: 
1. Selling and collect payment via a Shopping Cart
2. Sell and get payment via a Button that opens a payment form for customer payment

  

Mobile Payment Acceptance 

How many ways can your customer get a sales reciept?

1. In-Person paper sales reciept
2. Remote, Over the Phone, Mobile App, Invoice, Email & Website - Text or email receipts

 

Over the Phone Payment Acceptance on PC

How can I keep track of my customers?

Merchant Processing Solutions POS capture Customer Data for Marketing, keep customer history, sales analytics & loyalty programs. 

Payment Form & Invoice Form 

How do I know how they paid me?

Our POS captures the SOURCE where the sales transaction was originated. The system can also  identify which sales person enter the transaction if it was Retail, Mobile or Over the Phone!

Can your Point of Sale System do the following:

• Add a Payment Link to your email?
• Offer you reduced rates on the B2B Credit Cards you Accept?
• Can your POS System automatically save your customers info for history and future sales?
• Does your POS Offer your customers Invoicing with tracking and reminder notices?
• Does your POS Offer your Customers Recurring Billing with Customer Authorization Letters
• Does your POS System offer you automatic SYNC with your Online QuickBooks Account?
• Can your POS System allow unlimited users with only ONE monthly fee?
• Can your POS System offer you the opportunity to "Legally" past the processing fees on to your customers via our Convenience Fee Program? 

  Merchant Processing Solutions wants to offer you the best POS System for your business! Please call use today to review your needs!

Merchant Processing Solutions Inc.

954-938-2420