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  1. #1
    Join Date
    Sep 2002
    Posts
    83

    http://www.creditcardprocessor.com/

    I am using paypal now but i 'd like to move to authorize.net and a merchant account. I looked at http://www.creditcardprocessor.com/, there rates seems very low,
    Is this real? or there are hidden fees?


    Lowest Rates Guaranteed or We'll pay you $500.00!

    * No Long Term Commitments
    * No Cancellation Fees

    Point of Sale / Low Risk / Card Swipe Merchant Accounts:

    * V/MC/Check Card discount rate: 1.25% plus .18 per transaction
    * Monthly Statement Fee: $5.00
    * Monthly Minimum: $25.00
    * Mid Qualified: 1% plus .10 per transaction
    * Non Qualified: 1.50% plus .10 per transaction



    Others are like 2.x% + 0.30

    Thanks

  2. #2
    Join Date
    Nov 2006
    Location
    FL
    Posts
    106
    Quote Originally Posted by go77306 View Post
    Point of Sale / Low Risk / Card Swipe Merchant Accounts:
    Those are "card present" transaction rates for when the customer is standing in front of you.

    You would have to contact them for internet "card not present" rates.

    Check http://www.creditcardprocessor.com/internet.asp to get a quote.

  3. #3
    Join Date
    Sep 2002
    Posts
    83
    Thank you very much!

  4. #4
    Do you have a small or a large business?

  5. #5
    wow thats pretty good for a paypal alternative

  6. #6
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    Those rates are definitely for retail processing and specifically - the1.25% + .18 rate would be ONLY for card present, physically swiped Check Cards ONLY. Higher rates will apply for ALL other transaction types.

    In fact, if I am reading their Web site correctly... any other transactions for retail transactions that are NOT on a Check Card would fall into the mid or non category which would cost either 1.00% + .10 or 1.50% + .10 more.

    Unfortunately, this can quickly result in a HIGHER than normal cost for many retail swipe transactions because you would be presumably be paying 1.25 + 1.00% + .18 + .10 or 2.25% + .28 per transaction on a SWIPE consumer credit (non-check) card which is quite a lot higher than the industry standard pricing on that.

    At first glance, it appears that this Web site is using the tired old "teaser rate" approach for the lower cost debit category and then making up for it by surcharging higher than the norm for other categories.

    They also do not appear to list their pricing for any Internet payment gateways that they offer which is another key component of the pricing that should really be disclosed.

    Last but not least... I find it very curious that this Web site is clearly marketing merchant services under its own brand name but fails to disclose its sponsoring bank(s) which is a direct violation of Visa & MasterCard rules and regulations and one which could lead to some pretty substantial financial penalties.

    I would suggest asking them if they are indeed a registered ISO/MSP and if so - with which sponsoring banks and then asking them why they do not disclose this as required by Visa/MasterCard on their Web site. Ask for a contact person at their sponsoring bank to verify that they are an ISO/MSP and see if they provide one.
    CDGcommerce.com - Trusted Merchant Account Solutions since 1998
    Many thousands of successful, growing businesses benefit from our expertise every day. You can, too!
    We help merchants to eliminate gateway costs, reduce & mitigate fraud and achieve streamlined PCI compliance.
    Learn more today at http://www.cdgcommerce.com - we look forward to helping your business grow!

  7. #7
    Join Date
    Mar 2006
    Location
    Europe
    Posts
    490
    If they are an registered MSP/ISO the sponsoring bank should be displayed on the website quite clearly which it does not.
    *
    Failsafe Payments - New Website & New Products Launched

    CertoConnect (Alternative Payments) - Free Until July 2012

  8. #8
    We use to have a link to our web site from theirs many years ago.
    Merchant Account Experts - if you are looking for honest, personal one-on-one service.

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