MERCHANT / ISO SERVICES
|Stand Alone Options for ISO and Merchants||Quantity||Price|
|PAX Programming Services
|$29 /per computer|
|PAX S300 Payment Terminal
(includes USB pigtail cable and programming)
|Per Incident Support||$60|
ABOUT MERCHANT ACCOUNTS
What is a Merchant Account?
A merchant account is required for merchants to process online credit and debit payments.
A merchant account is opened by the merchant with a Merchant Service Provider or Financial Institution. In most instances, opening a merchant account is similar to opening a line of credit, since credit card funds are deposited into your account before they are collected from the customer.
When you process payments utilizing Intuit Merchant Services, Intuit opens a Merchant Account on your behalf.
Are all merchant accounts the same?
When you process a payment, the charge/credit request goes through a processor (of which there are only a handful). The processor authorizes the transaction with the credit card issuing bank and an authorization is issued to you. When the authorization is issued, the card companies (Amex, Visa, MC) take their cut, which is the same for everyone! They also deduct the commission to be paid to your Merchant Services Provider (such as Intuit) for obtaining your account. This commission is determined by the Merchant Service Provider. In many cases, you might not be aware of how much it is.
Although they are similar in function, not all Merchant Accounts are the same:
Some Merchant Service Providers will give you a very competitive introductory rate in order to attract your business. Then they hit you with price increases soon after.
Others offer low prices but poor account support. Some Merchant Service Providers provide poor service because they are small or inexperienced companies. Some just do business that way on purpose to boost profit margins.
Why you should not get the cheapest Merchant Services
You get what you pay for. If the Agent’s goal is to get your account at a low margin, most likely they will not be interested in servicing/maintaining your account. Instead, they will probably focus on obtaining the greatest possible number of accounts in order to maximize the value of their portfolio.
This is not a good situation for you. If you need assistance in resolving issues with a transaction or if something goes wrong and funds were not deposited, you want someone there to help you! No matter how long it takes.