The Go MCPS Support Center
is available
7 AM to 5 PM Monday - Friday, PST. Our staff is trained in the areas
necessary to support you online or by telephone at 866.287.7657.
Merchant support is available 24/7, 365 days a year so you will never miss a transaction. In many cases, the merchant support department is specific to the type of solution you have to process credit cards. If you need assistance, look for the toll free number located on your equipment to call for the most efficient support available. If you do not know who to call, then feel free to call our after hours support staff at 866.287.6657, extension 911, to help you get to the proper support department to provide you solutions.
Why accept cards?[+]
Merchant Account Benefits for Your Business
Accepting credit cards in your business comes with many benefits, not the least of which is convenience for your customers. It can also save you time and money, and provide you with much improved cash flow.
Do you know that the average credit card balance has increased from $649 in 1970 to more than $2,800 today? Further, the average consumer holds up to eight different credit cards, gas cards, or charge cards.
This increasing trend in consumer credit card spending creates several opportunities for business owners. How you might ask? It's all about leveraging future cash flow. Consumers do it and so can your business.
Consumers prefer the use of plastic over cash. Cash can be burdensome. Risk of theft, constantly going to the bank or ATM, carrying around all that change makes cash, in today's fast paced world, inefficient. Plastic is easier to carry, easier to use, and if you are like me, can be used to defer payment until after the billing cycle and grace period - it's a time value of money thing as well as a convenience.
Plastic can also be a great way for consumers to leverage their monthly pay check to fund their current lifestyle. Buy now when the time is right or the desire is present and pay later after the pay check is deposited into the bank.
Accepting credit cards as a form of payment can save you both time and money. Once batched, funds can be deposited into your account within a day or two - saving you trips to the bank and lost productivity.
What are the costs?[+]
Many factors can influence the discount rate and other fees you pay for the privilege of accepting charge cards. Among those factors: the length of time you have been in business, the percentage of your sales that are made over the phone or the Internet, the type of business you are in, the number of years you've been in business, your personal credit rating, the average dollar amount of each sales transaction, the total dollar amount of sales per month. Service fees tacked on by the third party providers or by their sales people, can also add to your costs.
Typically, however, discounts rates ranged from 2.25 to 3 percent for home and small businesses that accept mail order and phone orders and 1.6% to 1.9% for businesses that are able to swipe over 80% of their transactions.
Some companies were charging as much as 5 percent discount rate. While poor personal credit or the type of business you run might possibly cause you to have to pay that much, do not agree to such a high a discount rate until you have personally determined that no other company will process your charges at a lower rate. Even though banks in many parts of the country still don't want to deal with home and small business merchant accounts, it is not as difficult as it once was for new, home mail order businesses to get merchant status - at least not if the owners have good personal credit and aren't "adult" products or services.
Some companies advertise discount fees less than 2 percent. Usually these lower fees are for swiped transactions (sales made by running the customer's credit card through a machine).
Therefore, in comparing processors, be sure to find out what all of the fees will be. Compare not only the application fees and the discount rate, but also the initial cost of equipment, transaction fees (the fee you pay on top of the discount for each transaction you process,) monthly minimums, voice verification charges, address verification (if extra) fees, monthly statement fees, and any other costs you will incur. A difference of 10 cents on the transaction fee is equivalent to a one-half a percent on the discount rate if your average sale is $20.
Why Choose Us?[+]
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How does it work[+]
When a customer pays for products or services with a credit card, the card information is recorded—either by manual entry, a card imprinter, point-of-sale (POS) terminal, or virtual terminal—and then verified so that the merchant can receive payment for swiped transaction.
This process involves the following parties:
-
Cardholder: the owner of the card used to make a purchase.
- Merchant: the business accepting credit card payments for products or services sold to the cardholder.
- Acquirer: the financial institution or other organization that provides card processing services to the merchant.
- Card association: a network such as VISA®, MasterCard®, Discover® (and others) that acts as a gateway between the acquirer and issuer for authorizing and funding transactions.
- Issuer: the financial institution or other organization that issued the credit card to the cardholder.