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  #1  
Old 01-01-2004, 02:24 AM
Stitch626 Stitch626 is offline
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Question about Modern Authorize?


I've been looking at this site ModernAuthorize and I am a little confused..

http://www.modernauthorize.com/us/pricing.php

It appears to be a total of $20 that must be paid monthly, am I correct?

But the confusing thing is at the bottom where it says that their must be a minimum of $25 per month on the merchant account.. does that mean I must make a sales of atleast $25 a month or that they must get $25 worth of fees each month.. and if so what happens if i dont make the $25 requirement



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  #2  
Old 01-01-2004, 02:25 AM
Stitch626 Stitch626 is offline
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I think this may have beent he wrong forum.. i proably should have posted it in the ecommerce section

  #3  
Old 01-01-2004, 02:36 AM
Logical J Logical J is offline
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Yes the base fee is $20 / month but they will bill you for a minimum of $25 no matter what (including transaction fees) So that means even if you don't have any transactions that month you must pay $25 but if you have $10 in transaction fees then your bill will be $30.

You can get a better deal than that from chris @ cdgcommerce.com Plus you will get much better service.

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  #4  
Old 01-01-2004, 03:29 AM
Reddrake Reddrake is offline
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Total Charge Per Month is $45.

10 for authorize.net < They charge you there >
25 for e-online data <They charge you may be lower higher>
10 for e-online data statement <They charge you>

I use them, pretty happy.

  #5  
Old 01-01-2004, 11:36 AM
Esr Tek Esr Tek is offline
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Quote:
Originally posted by Stitch626
I think this may have beent he wrong forum.. i proably should have posted it in the ecommerce section
Moving
-------------------------

We use MA and find it fairly usefull and the fees are not to bad
As for the $25, that is 25 in sales. If you don't do $25 you will be charge the $5 minimum from them. Not very hard to get $25 per month though

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  #6  
Old 01-02-2004, 11:14 AM
cdgcommerce cdgcommerce is offline
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Actually, the $25 on the EOD is a minimum amount of discount rate billings (on VISA/MC), as Reddrake mentioned above.

Thus, it is $20 + $25 = $45/month minimum cost from EOD or MA/EOD.

It is not $25 in minimum sales but rather $25 in minimum fees that is collected on a monthly basis.

So if you process over $1,162 in VISA/MC sales per month this won't matter a great deal, but if you think you will be having any months under $1,162 in VISA/MC, then the monthly minimum will definitely apply on that program.

For more details on that program, there are a few other threads here on WHT that have more info and user feedback, etc.

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  #7  
Old 01-02-2004, 03:05 PM
Logical J Logical J is offline
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I thought chris would show up

  #8  
Old 01-04-2004, 10:32 PM
jwaldron1973 jwaldron1973 is offline
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Modernernauthorize.com and e-onlinedata

The minimum is actually covered much less the the $1162.00 mentioned above cdgcommerce because the $.25 per transaction fee is included in the minimum so if your average ticket is $15.00 then you would actually meet your minimum at about $675.00 in sales. $675.00 x 2.15% =$14.51 in discount and $675.00 divided by $15.00=45 transactions so 45X$.25=$11.25 therefore your transactions fees of $11.25 and the discount rate of $14.51 are $25.76 and you would not have a minimum that month. If you did not meet the $25.00 in fees then you would just pay the difference so if your total fess were $23.00 then you would pay a $25.00 minimum that month. Hope this helps!

  #9  
Old 01-09-2004, 01:10 AM
jwaldron1973 jwaldron1973 is offline
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modernauthorize.com and e-onlinedata

On that minimum above if your fees were $23.00 that month you would actually only have to pay $2.00 as a minimum to get you to the $25.00.....just a little clarification.

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