You have a business plan, ready to open a business as a partnership or incorporation If this start up small business needs to accept MasterCard or VISA. Why not get the best rate? Save your money and get a free bonus service. You may pick from a free web site, free ads in a local newspaper, free business cards or a free trip. These free services are a sample of a bundled promotion. You buy one product at regular price and you get another for free. This offer is good for Toronto. Call 416-693-8530

Sounds two good to be true?? Well you only get one of 4 promotions for free. These little deals are a result of not having as many people between you and the bank. Less people, less commission more money to buy little promos.

Why are the Rates and fees different for each vendor?

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.

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.

The Application Process: What to Expect

Some companies will want the right to send a representative to your place of business (including your home if that's where you do business) to take a photo of your office. This is to verify that you are at the location you say you are. Some will accept a photo of your office instead of the onsite visit.

Depending on which company you are dealing with, you may have to provide any or all of the following: copy of your business license or certificate of doing business and Your GST #. All will require two-way access to a your bank account if you are accepted. This allows them to deposit funds into your account and also allows them to withdraw them if there are charge backs.

Many banks won't offer merchant accounts directly to small businesses. Instead, small businesses need to go through third party providers who secure the merchant account, for you. Each of these third parties may have different fee structures and somewhat different rules.

More details at
www.yourfreewebsite.ca.
www.freebizcards.ca
free local newspaper ads
www.freeaccommodations.ca
This offer is good for Toronto. Call 416-693-8530

Sounds two good to be true?? Well you only get one of 4 promotions for free. These little deals are a result of not having as many people between you and the bank. Less people, less commission more money to buy little promos.

By Who's Authority Do I Represent These Services Call 1 877 505 9382 About My Status As A Rep

Paul Murton
paul@paulmurton.com
416-693-8530

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Of all the demands of running a business, shopping for a competitive credit card processor might seem trivial. Yet a healthy dose of due diligence can go a long way. How To Choose A Credit Card Processor

Take, for instance, a 120-seat restaurant that does roughly $2 million a year in sales--80% of that on account. Shaving just 1.5 points off of those processing fees equates to savings of $24,000 a year.

In the case of Visa and MasterCard (nyse: MA - news - people ), when a credit card is swiped, the transaction gets relayed--via an intermediary--to the credit card company, which then sluices the funds to the merchant's bank account. That middleman charges the merchant a fee--2% to 5% of the sale--for the hookup; meanwhile, the processor pays a fee to the credit card company. (American Express (nyse: AXP - news - people ) puts the money right into merchants' accounts, charging them fees directly.)

Fees. Generally speaking, a base rate of 2% on each bill is pretty good. Unfortunately, there is no one resource for comparing processing prices--and the fee structures are opaque at best. While third parties typically offer cheaper rates than banks, there are plenty of caveats.

Case in point: "nonqualified" rates on certain types of transactions. Fees on phone orders (where the merchant types the number into the system rather than swiping the card) might cost in the 5% to 8% range, for instance. Some processors may deem a wide range of charges nonqualified. Make processors spell those out before giving them your business.

Remember, too, that the processor must pay a fee to Visa and MasterCard, which typically charge 1.65% for a normal credit card transaction, says Dan Price, chief executive of Seattle-based Gravity Payments, a credit card processing company. So, if a processor offers a super-low base rate of 1%, watch out: The company is likely making up for that loss by larding on other fees--or perhaps by bumping up the rates midway through your contract.

Of course, fees aren't the only consideration when choosing the right processor. Service and speed matter, too. Terms are negotiable (these guys want business), so knowledge is your best weapon. Here are some things you should be looking for.

Equipment. Credit card processing machines--which often come as part of point-of-sales systems--run between $300 and $800 apiece. (Sleeker systems involve software, too.) Vendors include Micros, Aloha and Squirrel, though some processing companies offer equipment as part of a package. Merchants also need a way to connect to the processor, via either a separate telephone line or the Internet.

Lag time. Another critical factor is the time it takes to get your mitts on customers' money. The lag can be anywhere from one to five days. Why the difference? Some processors have more efficient fraud-checking systems. Others try to eke out interest on the "float" (the reimbursement from the credit card companies) before depositing the funds into merchants' accounts. (That's why all processors must be sponsored by a bank insured by the Federal Deposit Insurance Corporation.) Obviously, the quicker you get the money, the better--and you may not have to pay more for faster service.

Then there are termination fees. Typical processing contracts are one to three years long, and getting out early could cost you a few hundred dollars. Any more than that is probably too steep.

No matter how transparent, contracts will likely have some confusing language. To get a better handle on things, ask to see a typical monthly statement itemizing every transaction and its related fees.

Extras. Rather than deducting fees at the point of each transaction, some processors will bundle them and deduct the cumulative amount at the end of the month, streamlining your bookkeeping and leaving you with a little more cash on hand. Another potential perk: gift-certificate processing, which might cost another 25 to 50 cents per transaction. Not all processors will offer such extras, but it's worth asking.

Hi! This is Paul Murton I sell credit card processing in Toronto, Ontario, Canada. Interac by pos terminals and a merchant account for your businesses. This is not online. These merchant services are for accept credit card in person. This system will take mail-orders over the phone. Yes we can provide a wireless credit card machine! What makes us different than most merchant accounts for accepting credit card is we bundle it with other services that a biz needs. Here we will give you a customized free bonus for your business at no extra cost. See the list below of the free services you may pick out with your merchant account.

Paul Murton
paul@paulmurton.com
416-693-8530

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