Do I need Signature Debit and Pin Debit?

The Brands

Customers can purchase products and pay for services using different types of credit cards: Business, Corporate, Government, Personal, Rewards - Points or Cash, Standard, Debit and Pin Debit. I have discussed in previous blogs the difference in merchant processing Business, Corporate, Government and Personal. 

PIN PAD for PIN Debit Card Acceptance

 

Today, I would like explain the difference between DEBIT CARDS: PIN DEBIT (Personal Identification Number) and SIGNATURE DEBIT. Seemingly similar, there are notable differences:

• Customer Identification 
• Signature Debit Cards are verified by the customer's signature on their sales receipt. Signature Debit Account come with all credit card processing accounts. 
• PIN Debit Cards require the customer to enter a personal identification number. If you want a PIN Debit Account, you will have to sign up for one with your credit card company as it goes with the PIN Network and not the credit card network. So in essence you have two different account on your statement! 
• Purchase Limits
• Signature Debit Cards are approved if the customer's credit limit has not been met or the card reported lost or stolen
• Pin Debit Cards are ONLY approved if there is enough money in the their bank account to cover the purchase.
• Transaction Authorizations
• Signature Debit Cards are approved through the credit card Brands Network such as Visa, Mastercard, Discover, or American Express. The customer will be approved based on the credit limit on each card.
• PIN Debit Cards are connected to pin ebit networks such as Interlink, STAR, Maestro, Cirrus, and many others. Debit network checks the bank account associated with that PIN Debit Card and only approves the transaction if there is enough money to cover the transaction at that moment!
• Merchant Services Pricing 
• Signature Debit goes through the Brands (Visa/MasterCard/Discover/American Express) and a merchant processing company to make purchases. Each of those entities charge for their services so traditionally, using or accepting payment with a credit card can be higher than with Pin Debit Cards.
• Pin Debit Cards typically include lower percentages than credit cards, but they come with higher fixed per-transaction fees. A merchant can save money by accepting Pin Debit for large sales but the customer has to have that money sitting in the bank account for that transaction to be approved! 
• Monthly Service Fees
• Signature Debit cards run through a Merchant Services Company like Merchant Processing Services and you can negotiate your monthly fees and rates. 
• Pin Debit Cards run through the PIN Network and have monthly fees that are Non-negotiable. 
• Payment acceptance
• Signature Debit can be accepted via a regular terminal, online, over the phone, via an Invoice in person or card not present. 
• Pin Debit Cards require a special Pin Pad machine that attaches to a terminal. Each transaction must be IN PERSON and the customer must enter a valid PIN into the Pin Pad device for the transaction to be valid and go through the PIN Network for a lower price. 

Signature Debit Cards

I would be remiss to not include the 2011 Durbin Amendment  and its impact over that last several years in the processing of Debit Cards. The Durbin Amendment caps debit card fees charged by banks with assets of more than $10 billion at about .05%. These are your large national banks Citibank, US Bankcorp, Bank of NY, Wells Fargo, etc. Smaller, local banks with less assets can charge anywhere from .05% - 1.25%.

Understanding if you should take Signature Debit or Pin Debit or both is vital to the success of your company. 

• Anything CARD NOT PRESENT (Online/Call Center/Invoice/Via Smartphone/Via App) are NOT considered eligible for PIN DEBIT! However, you can get Signature Debit and with the Durbin Amendment, most merchants recieve the benefit of the lower mandated fees! 

• Only Retail Transactions using a terminal and a PIN PAD with a PIN Network Connection will allow your business to accept PIN Debit properly. Remember, the customer must have the money in the bank for this transaction to be approved! NO BUY NOW, PAY LATER! 

Learn more about processing debit cards and whether your business should be set up to accept PIN DEBIT! Call Merchant Processing Solutions today! 

Merchant Processing Solutions Inc.
954-938-2420

What are the steps to set up a merchant account?

1. Have a Business Plan - This plan need to include the following: 

1. Exactly what product or service you are providing.
2. What will that cost to make/acquire/distribute/marketing & sell! 
3. What is your product inventory or list of services with pricing.
4. Who is your Target Audience?
5. How will they pay you for your product or service?
•  In-person @ a store or office
• Online @ Website
• Branded Proprietary Mobile App
• Via Invoice or Recurring Payments
• Mobile Payment Capture via card readers 
6. How will the customer get the product or service? Delivery/Shipped/In-person/Pick-up
7. What should your average sales ticket be and how much do you think you will sell monthly? 

These are questions that a new business needs to consider prior to moving forward without any further costs incurred. Once you know the answers to these questions, then you can move forward with investing in your new business. 

2. What do I need to start a business?

1. You will need to create your Articles of Incorporation documents. There are many online temples for this document or better yet to protect you and your company, hire an attorney to properly set up these important documents. Cost will vary.
2. Go to Apply for an EIN - there will be a cost to this.
3. Register your Business with your state's Department of State-Divisions of Corporation - upload and pay for your business to be registered with your state. 
4. Once you have created and filed all these documents and filed them with your state, you are ready to move forward.
5. Find a location and sign a lease. Or if home office have that information ready. 
6. Open a bank account for your business. Check both banks and credit unions to see which is the best fit for your business. Credit Unions are less expensive than banks. 
• BE CAREFUL when working with these institutions, they are required to sign up business up for everything they offer. Their philosophy is the more they control your business, the harder it is for you to leave them! 
• Make sure they give you a bank letter or starter checks that contain your Business Name, address and phone #. This is required for merchant account and other services you may need to get started! 

3. First and foremost, there are many things one has to take into account before making a final decision about a merchant account provider. While rates may seem the most important, the best is actually based totally on your business, how you will accept payment, what data are you looking to capture, what software best suits your company? And the merchant service companies want to know the average transaction amount, who your customers are, what your warrantee, guarantee and refund policies look like. They want to know you have done your homework and will be a solvent and prosperous business for them to partner with! 

1. Determine your payment model: 
• In-person (retail), eCommerce/Online/MOTO (card not present) type of merchant account, (Choosing the wrong will cost you money in penalties!) 
• This depends on your product or service and the demographics of your target audience. 
• B2B customers use business and corporate cards as payment.
• Consumers use Debit and Credit Cards as payment.
• Each of these demographics can be set up so you get the best rate possible on each and every transaction! (Ask us how!)
2. Determine any hardware or software you will use in your business: 
• Track Sales
• Employees
• Inventory
• Financials
3. Determine whether you will have and use a Website for eCommerce Sales and get that started. 
• Make sure to add a Mobile App or a Mobile based website (used most these days)
4. Check LOCAL merchant service providers! 
• You will not be calling an 800# for consultations, installations and customer service! 
• READ the fine print - NO CONTRACT OR PENALTIES should you dislike their company and want to end the relationship.
• Ask if they offer B2B Optimizer if you are a B2B Business and your target market is mostly other businesses, corporations or government entities! 
• Ask if you can connect with QuickBooks from their platform
• Ask if they offer FREE SOFTWARE PLATFORM that captures data on the customer, transactions and history. 
• Ask if they have 1 Free Software Platform that can be used to capture payments via a Website (eCommerce), Call Center (virtual), In-person (retail) or Mobile (in-person remote sales). All of these comes with our Software Platform and is included with your merchant account. 
• THEN ASK THE RATES! 

Merchant Providers promote what appears to be lower rates but if you are on the wrong type of account, working with the wrong credit cards based on your customers and using the wrong software/hardware, the rates are worthless!!! YOU WILL BE PAYING HIGHER RATES AND NOT UNDERSTAND WHY! 

Merchant Processing Solutions prides itself on our consultative approach with our merchant partners. We want long-term customers that know we focus on their success! We work directly with our merchant partners from start to finish; nothing is left to chance. When they work with us, they become family! 

If you are in the process of starting a business and want some guidance through these MURKY merchant waters, call us today! 

MERCHANT PROCESSING SOLUTIONS INC.

954-938-2420

Need a temporary merchant account? MPS can help!

Does your business need a temporary merchant account? 

 Many businesses are set up for specific reasons: 

• One-time Events
• Holidays
• Seasonal Sales
• One-time Donations
• Special Online Sales

Most of these reasons are temporary and the business setting them up do not want any type of contract or cancellation fees! However, many companies that offer NO CONTRACT come with a higher discount rates and monthly fees! Why can't businesses get a one-time merchant account with NO CONTRACT and lower rates and fees!!! You can call Merchant Processing Solutions Inc, we can help! 

Example: Your business is selling homemade creams with aromatherapy oils. You have been accepting digital money, cash and checks from friends and family. Now, you have an opportunity to set up in an Expo and only want the merchant account for that weekend. Merchant Processing Solutions can help you get a one-time merchant account and very affordable rates and fees. 

Example: Your Non-Profit typically accepts checks but this upcoming carnival will be open to the public. More people no longer carry cash, and with the danger of bounced checks, a merchant account is your best option! Let us help you set up a merchant account that will increase your revenue and protect your non-profit from dirty money (fake) or bounced checks! 

Merchant Processing Solutions has helped hundreds of businesses both for profit and non-profit with temporary accounts for whatever reason needed. Let us help you! 

Call Merchant Processing Solutions Inc to inquire about our temporary accounts! 

Merchant Processing Solutions Inc.
954-938-2420

mCommerce Apps help grow your business!

 Do you have a branded Mobile App - 

an mCommerce App?

Are you offering your customer an easy way to purchase?

If you own a retail type business whether online or brick & mortar, you probably understand the value of eCommerce. However, post COVID, mCommerce has grown exponentially to address those purchasers that do not or cannot get access to a PC or pull up and maneuver mobile based websites! Hence, having an eCommerce mobile app for the shopping site is not a luxury anymore, it is a MUST! 

While most large companies have already upgraded their marketing and offer eCommerce mobile app, most smaller/local companies do not! Having JUST a website isn’t going to get you the desired activity and revenue you desire even if your  have optimized your website to make it mobile responsive. If the consumer can, they might check you out online for verification and buy from their once. However, if you have a BRANDED mCommerce App (a smartphone mobile app) once they find you reputable and like your product or service, the convenience of mCommerce will be the place they want to go purchase! Here are some stats that show you why you need your own branded eCommerce mobile app:

• Mobile eCommerce purchases are expected to surpass the 54% of total eCommerce sales in 2021.
• Approximately 60% of the online purchases are done using mobile devices. (Unusable eCommerce Websites will not make the cut!)
• According to Google, 80% of the customers start their purchase on one device and end on the other. If your business offers a robust mCommerce App, your customers will be happy with the  convenience, time saved and buy from YOU!

Change in the consumption behavior

Along with the above mentioned statistics, customers' behavior must be monitored and analyzed; where do they purchase, how much, how often, and what type of marketing do they respond to? The m-commerce apps are expected to make up to 50% of the total online purchase. Moreover, Google believes that the ‘Right now’ expectation of the mobile phone users has increased and most will even pay more to get a product or service immediately! They also report that 53% of visits are abandoned if a mobile site takes longer than three seconds to load! Having a BRANDED, responsive eCommerce mobile app for your business is surely one of the solutions to deal with the changing behavior of the customers.

Mobile experience can affect your branding

Research has proven that the mobile app experience is crucial to customer satisfaction of a business. Speed, relevance and personalized contents are a few of the factors that affect the overall user experience. Customers today have twice as much interaction with brands on mobile devices than other mediums such as computers, TV and etc. This makes the eCommerce mobile app one of the most intuitive medias for marketers to build brand awareness and equity. Easy browsing, simple navigation, filters and site search, saves time, effort and money, boosting the company's brand recognition.

Every time a consumer has a good experience with your mobile app, it positively increases your brand image within your local market and industry! Serving your customer with a branded mCommerce App will do the following for your business: 

1. Create brand loyalty
2. Reach untapped audiences for your products and services
3. Give your business more opportunity to expand on promotions, loyalty programs and marketing
4. Do something MORE than your competition
5. Stay connected with your customers 
6. Make a larger profit  

Merchant Processing Solutions offers Branded Mobile Apps for our merchants to enhance their already established storefront, website and more. Please reach out to us today to get your mCommerce App built and capture an untapped market! 

Merchant Processing Solutions Inc.

954-938-2420

Business & Consumer Trends Post Covid 19

 Six Business Changing Outcomes Post Covid-19 for Business & Consumers! 

Adapting to contactless payments 

Business Changes: 

• Anywhere Operations demanded - business have to offer their products for the convenience of their customers regardless of whether they shop in-person or online or smart phones!
• Adopting Cloud-based Software and Operations allows for a smoother run business
• Developing a "remote" workforce in all retail industries allows remote sales and customer service to be handled outside of the brick and mortar!
• Buy Now Pay Later continues its rapid growth in 2021 with consumers tapping traditional credit lines such as store installments, credit cards and long-term financing with Zero to low interest rates!
• E-Commerce marketplaces such as Amazon, Shopify, Pinterest and others will continue to grow enhancing the retail sales industry.
• Business must adapt and offer contactless payments to ensure customers and employees feel safe and adopt digital wallets in your payment processing system, for both in-person and online purchases.

Delivery with pre-payment has increased 30% in 2020

Customer Changes: 

• Cash usage has decreased by 40% in payment acceptance
• Contactless enabled device usage up 63% 
• Consumers using digital wallet payment methods increased by 29% 
• Big shift to curbside pickup and order delivery in the retail industry
• Purchasing via Smart Phone Mobile Apps for specific stores, restaurants, etc
• Offering online appointment scheduling software on your Mobile App or Website

Prepaid pick-up has increased by 50.7% by April 2021

If you are looking to grow your business in 2021 and beyond to the safety conscious consumers in the market, you need to read and implement these changes to your business! Need help, Merchant Processing Solutions can help you get the tools needed to create an Anywhere Operational Business that understands the concerns of your customer and offers them the ability to purchase from you as they want! 

Call Merchant Processing Solutions 
945-938-2420 

B2B Merchants can save 25% and more on their credit card processing!

B2B MERCHANTS PAY LESS!                     

Let Merchant Processing Solutions help your B2B business get set up properly with a B2B Optimized Merchant Account. This means that Business, Corporate and Government credit cards will be lower than if you processed these through a traditional merchant account. With the B2B Interchange Optimizer App, you can be confident that your merchants qualify for the best possible rates for all purchasing and corporate cards. Our proprietary technology identifies the proper data fields necessary to meet the preferred Interchange categories for all major card brands with no additional prompts or data for your merchants to enter.

Business to Business Sales can cost you less! 

DID YOU KNOW? Purchasing and Corporate cards are eligible for significant savings when processed with optional enhanced Level II and Level III data.

• LEVEL II & LEVEL III - When the B2B Interchange Optimizer App is enabled, our proprietary solution verifies that the additional Level II and Level III transaction data needed for those payments is provided during the authorization, so that your merchants receive the best possible rate.

         

Lower your merchants’ effective rate, while increasing revenue makes Merchant Processing Solutions the perfect merchant services company! The B2B Interchange Optimizer App is available exclusively in the MX™ Merchant Marketplace App Store. 

Contact us today to see how this will work for you and how much your business can save! 

Merchant Processing Solutions Inc!
954-938-2420

How many layers of fees do you pay for Merchant Services?

Acquirers/merchant banks have many layers of fees!  

Acquirers: Acquirers, also known as the acquiring or merchant banks, are financial institutions that maintains where the merchant's account is set up in order for the merchant to accept credit cards. The acquirer settles card transactions into the merchant's account. Sometimes the payment processor and the acquirer are one and the same. 

Fiserv

• First Data
• Wells Fargo Merchant Services 
• Bank of America Merchant Services 
• Citi Merchant Services 
• PNC Merchant Services
• SunTrust Merchant Services
• Intuit – Quickbooks 
• BB&T Merchant Services
• Santander Merchant Services
• M&T Bank
• BBVA Compass
• TD Bank 
• KeyBank
• Citizens Bank
• Deluxe Merchant Services
 

FIS - Fidelity National Information Services 

• WorldPay
• Vantiv

Global Payments

• TSYS
• Heartland
• Cayan
• International Bancard

US Bancorp 

• Elavon
• Sage

These large ACQUIRERS list above own national banks and some of the largest merchant processors in the market today! But as you can see, they have multiple layers to fees with each layer of company! 

Direct Processors work directly with VISA/MasterCard/Discover/American Express
to give merchant fewer fees! 

Direct Processor: The term “direct processor,” refers to any payment processing company that has direct access to Visa and MasterCard's credit networks. There is no middle-man raising costs! 

• Priority Payment Systems > Merchant Processing Solutions Inc.
• ChasePayment Tech
• Merrick Bank
• Paya
• Shift4 Payments
• Clearent
• Gravity Payments
• Redwood Merchant Services
• Integrity Payment Systems
• Newtek Merchant Solutions
• First Hawaiian Bank
• First Citizens Bank
• United Merchant Services
• Commercial Bank of California
• Complete Merchant Solutions
• Paragon Payment Solutions
• North American Payment Solutions

These companies Direct Processors work directly with the Brands (Visa/MasterCard/Discover/American Express) therefore giving you almost no layers of fees! 

Which type of company would YOU like to work with? If you want a DIRECT PROCESSOR that will be transparent, honest and service oriented, call us TODAY!

MERCHANT PROCESSING SOLUTIONS INC.

954-938-2420

Visa implements a FALLBACK ASSESSMENT FEE, WHY?

Use the EMV Chip Reader on your terminals, NOT the Swipe Strip! 

Fallback transaction

Beginning April 1, 2021, Visa will introduced a new High Fallback Transaction Fee if you have fallback transactions greater than 10% of your chip card-eligible processing volume.

What are EMV fallback transactions? EMV fallback transactions occur when an EMV-enabled credit card is used in a chip card reader, but the payment cannot be completed using EMV chip reader. In these instances, the merchant may decide to “fall back” and process the payment by swiping the card through magnetic stripe.

Although we have seen an overall decline in chip fallback transactions, fraud associated with fallback transactions is on the rise. Fraudsters are devising ways to force fallback transactions, usually associated with counterfeit cards. The fraudsters’ methods target the card or the card insertion process with the terminal which are impacted to bypass a chip read and force a magnetic stripe read on a chip capable card at a chip capable terminal. 

Fraudsters' methods to steal purchases from merchant include:

• Card containing a blank chip – No chip read possible

• Card containing a chip with no matching AID (Application Identifier) for the terminal to process – No chip read possible

• Card contains clear tape or coating over the chip – No chip read possible

• Card inserted upside down or backwards into the terminal – No chip read possible

BEST PRACTICE

Monitor Terminal Performance

• Train staff to look for potential fraud issues on the terminal. 
• If your terminal malfunctions and "fallback" to SWIPE or KEY-ENTER transactions, please contact your processor as soon as possible.

BEST PRACTICE

To avoid unnecessary fallback transactions (@ $.10 each), configure the terminal to allow two or three chip read attempts prior to reverting to a magnetic stripe read transaction. This should help address erroneous insertions and partial chip reads to possibly reduce the number fallback transactions originating from your place of business. Call your processor to learn how to set this fallback attempts! 

PROCESSING AN EMV CHIPPED CARD

If you have a cardholder facing terminal/key pad and the cashier notices what appears to be multiple unsuccessful chip reads, instruct the cashier to ask the cardholder for the card and perform the transaction for them. Prior to inserting the card into the terminal, the cashier must review the security features of the card. 

Reviewing the card’s security features include:

• Does the chip appear/feel undamaged and uncovered (no tape or clear coating over it)?
• Are the first four digits of the card number printed under the account number on the card?
• Does the hologram function/display correctly?
• Is there a valid Expiration/Good Thru Date embossed on the card appearing below the account number?

If the card passes the security features review, the cashier should insert the card and attempt a final chip read. If the chip read is unsuccessful, the cashier should follow the prompts on the terminal and conduct a fallback magnetic stripe read transaction (@ $.10 EACH TRANSACTION). If the card does not pass the security features review, for the cashier should request a different form of payment from the cardholder.

If you need better equipment and a company that cares, call us Today! 

Merchant Processing Solutions Inc.
954-938-2420

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

Merchant Processing Solutions helps Healing Hands of Hope

Merchant Processing Solutions Inc is a sponsor and promoter for Healing Hand of Hope. Sandra Eicher is a Colombian-German Actress and Influencer joins Healing Hands of Hope to help tell the incredible stories of people seeking to improve the quality of life for others in need in Venezuela, Haiti, Costa Rica, Colombia and Jamaica without regard to the nationality, race, gender, ability to pay, political or religious affiliation.

The Hands Of Hope was founded in 1999 by Derwin Westerburger and Zabdy Westerburger M.D. and is a non-profit charity, headquartered in Sunrise, Florida and has been undertaking missionary trips since 2000 to bring hope to a hurting world. We are a faith-based charity consisting of a pool of dedicated volunteers. As Jesus taught his disciples the lessons of service, sacrifice, and love, we strive to meet the needs of others and provide opportunities to individuals wanting to meet those needs. People all over the world are suffering and “The Healing Hands of Hope” exists to release them from their spiritual, economic, social and physical poverty and enable them to become responsible and fulfilled Christian adults. We treat the sick, feed the hungry, house the homeless, comfort the discouraged and educate the poor. Our work is a result of our faith, prompted by love and inspired by hope. We follow high ethical standards in order to provide the furthermost benefit to those in need of assistance. We are committed to honor Jesus Christ in all that we do. One of our objectives is to increase the awareness among the United States public regarding the needs of people in distress around the world and to expand the scope of volunteers and donations for this purpose. We commit to use money only for the purpose for which it was raised.

To find out how you and your company can support this great non-profit.

Call Merchant Processing Solutions today @ 954-938-2420

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