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Compare
the cost of CELL PAY to traditional credit card processing to
see the savings.
Below
is a comparison of the cost of processing with a terminal
alongside the CELL PAY program. Click on the BLUE
WORDS in the chart to jump down to the description
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OTHERS
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US
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Cost
to setup with Fed Clearing Center
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$
175.00
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$199
or
$99
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Cost
to complete bank paperwork + approval
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$
125.00
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NONE
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Rate
for Trans swiped thru a POS Terminal
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1.79
%
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3.95%
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Added
to the qualified rate (conditions)
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+1.59
%
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NONE
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Added
to qualified rate (conditions)
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+2.39
%
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NONE
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All
transactions / 100 trans = $25
cost
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0.25
cents
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NONE
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All
transactions / 100 trans = $30
cost
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0.30
cents
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NONE
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All
phone trans / 10 trans = $7.50
cost
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0.75
cents
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NONE
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Every
time performed / 30 days =
$10.50 cost
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0.35
cents
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NONE
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Itemized
statement ea month / $25
mo / $300 yr
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$
25.00
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$10
or $15
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Charged
if bank profit not $25 / $25 mo
/ $300 yr
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$
25.00
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NONE
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Buy
or Lease / Buy $900 or Lease 48
x $69 = $3312
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$
900.00
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NONE
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Per
year cost / Up to $250 per year
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$
250.00
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NONE
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When
you add up everything, equipment, monthly fees, transaction fees, hidden
costs and qualifying fees you end up paying 5-6% or more for your credit
card transactions. With Cell pay you pay one flat rate with No
surprises.
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his is the cost to
set your merchant number up with the Federal Clearing House so
your credit transactions are sent to your
bank
The cost that is
charged to complete and submit all the paperwork to the
bank
A percentage of the
sale Fee Charged by the Bank on every sale to process you CC
transaction. Example: if at 1.59% there is a $1.5 charged for a
$100 sale To be qualified
transaction the card must be swiped through an electronic
terminal, Address verification is performed and it is batched
out with 24 hours after the
transaction.
This is added to
your qualified Process Rate (Add 2.3% to the Qualified rate
making these transactions 3.19%)
This is added to
your Qualified Process Rate (Add 2.3% to the Qualified
rate making these transactions
3.89%)
Charged to obtain
the authorization number for a credit card
transaction.
Charged to perform
an Address verification which verifies the address and zip code
proved at the time of the sale matches the card issuing
banks. With most banks and
merchant providers, use of the AVS* system is required in order
to avoid non-qualified transaction surcharges (typically an
additional 2% added to the standard 1.59% making it 3.59%);
accepting a transaction involving an AVS mismatch response or
may not cause a non-qualified transaction surcharge to your
merchant agreement with your bank or merchant
provider.
Charged every time
you call Visa + MasterCard to get a manual voice authorization
code.
A fee charged every
time you "batch out" sending all your authorizations
to the bank so you can get paid for the transactions, a daily
function You also need to clse the
batch each day (batch out) you have a transaction, if not
batched out any transaction within 24 hours it falls into the
Non-Qualified Transaction Rate for all that were not batched,
and if batched after 2 days it becomes a Non
Qualified.
Monthly fee charged
to produce a monthly accounting of all credit card
transactions. MONTHLY MINIMUM
FEE This is a set monthly amount the
banks need to collect from the processing fees. If it is $25
then at 1.69% you must do $1595.00 in credit card sales to avoid
paying the fee.
Monthly fee charged
each month if a minimum of processing is not done by the
merchant.
Cost to buy or lease
an electronic credit card terminal.
A yearly fee charged
to maintain a merchant account, has also been called a
Subscription fee, Postage Fee and Membership
Fee.
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