MERCHANT CREDIT CARD PROCESSING INFORMATION by crunchy

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									                    MERCHANT CREDIT CARD PROCESSING INFORMATION
                             For ISPI–Orange County Chapter
                                     October 27, 1999

Retriever Merchant Program
Catherine Danigelis
(323) 223–1854
General number: (888) 827–9147

United Merchant Service
Suzanne Haas
(562) 621–8382
General number: (818) 246–6767

Wells Fargo Bank
Merchant Card Services
(800) 451–5817

 BASIC INFORMATION              RETRIEVER MERCHANT             UNITED MERCHANT           WELLS FARGO
                                      PROGRAM                         SERVICE                  BANK
Rate, on–site transaction      1.75%                         1.68%                    3.35% (approx)
Rate, for mail/phone           2.75%                          .75% + 5 cents          3.90% (approx)
Monthly statement fee          $10                           $10                      $25
1–time application fee         $85 (waived if purchasing)    $50 (if leasing)         None
Imprinter                      Free (w/ Basic, no printer)   $45 (+ tax)              $15/year
Total set–up fee               $85                           $98.71                   None (?)
Basic swiper equipment         $20 for 36 mo. (lease)        $32 for 36 mo. (lease)   $29/mo. (rent)
Verifone Tranz 330             $300 to purchase new                                   $525 to purchase
Has a separate printer         $175 used
                               $150 printer
Portable equipment             $57 for 36 mo. (lease)        $50 for 36 mo. (lease)   N/A
Lippman, battery–power         $1,350 to purchase
State of the art equipment     $42 for 36 mo. (lease)        $56 for 36 mo. (lease)   $45/mo. (rent)
processes debit card           $985 to purchase                                       $725 to purchase
transactions: Talento
Merchant Benefit Package*      $6.25                         ?                        ?
(optional)
Cancellation fee               None                          None                     $300
Batch or deposit fees          None                          None                     ?
Training fees                  None                          None                     $20
Chargeback fees                None                          None                     ?
Cost on a $25 charge           (1.75%)             .44       (1.68%)           .42    (3.35%)            .84
  if retail (card swipe)         + transaction fee .25       + transaction fee .30    + transaction fee .10
                                         Total      .69           Total        .72          Total        .94
Cost on a $25 charge           (2.75%)              .69      (+ .75% +.05) .72        (3.90%)            .98
  if hand–keyed, e.g. charge     + transaction fee .25       + transaction fee .24    + transaction fee .11
is made by phone or mail                 Total      .94           Total        .96                      1.09
We receive $ in bank           Within 24–48 hours            Within 48 hours          Same day
Fees are charged               Monthly                       Monthly, not daily       ?
Monthly minimum?               No                            No                       Yes

								
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