Call 844-538-3576 For More Information.
Best Retail Merchant Account Service:
Everyone at BankCard POS feels that we can proudly claim to offer the absolute best retail merchant account service available today, because of our transparent pricing on credit card processing, wholesale POS hardware, and specialized retail POS Software.
Our retail merchant accounts are designed for merchants that process a majority of the credit card transactions through face-to-face transactions with a card swipe. We are not like other retail merchant account providers in that we don’t advertise a BOGUS DISCOUNT RATE.
We educate our merchants on how credit card processing works and go over what interchange plus pricing means, because as fellow business owners we know how offensive and aggravating it is to be lied to and finding out later that you’re not really getting a good deal. Everyone at BankCard POS works hard every day to earn and build upon our stellar reputation among retail merchants nationwide by always providing an honest upfront answer and choosing transparency over making a definite sale every time.
Been there, done that and we won’t do it to others, because it’s a terrible feeling and a horrible thing to do.
There are over 125 interchange rates, so when someone tells you that your retail merchant account has a discount rate of 1.59-1.69% and explains to you that other merchant account providers charge as much as 1.85% of more know that they are liars, because they’re not telling you the whole truth.
The reality is that the discount rates are right around cost, so the rate sounds great! However, the merchant account providers aren’t explaining that they are setting you up with tiered pricing, which means there are 3 categories instead of the 125 that Visa, MasterCard and the banks that issue the actual credit cards are charging the credit card processing company.
Retail Credit Card Processing Rates:
Any Rates that would typically fall below their “Special Discount” rate are what they charge at that low 1.59-1.69% even, if it costs that merchant account provider something like 1.13-1.59% to process that credit card transaction. Now, any credit card transaction that would actually cost more than that 1.59-1.69% is dumped into mid-qualified or non-qualified categories, which a lot of merchants are never even told about. It’s in the fine print and the truth is most people simply don’t read it, so they won’t know they are getting lied to, until they get their first bill. Most merchants never even go over the bill, until they do a lot of money in credit cards and it’s obvious that their effective rate is way over their “special discount rate”.
BankCard POS refuses to play that game with anyone, because we value our integrity and work hard to build our reputation as an honest company that looks out for the well-being of our merchant partners. I don’t know how these companies get away or even feel good about what they do by offering tiered pricing, but they do.
We have heard merchant account providers try to justify to us their tiered pricing formats, but it just doesn’t make any sense unless you look at it for what it is: a system intentionally designed to make it confusing for merchants to understand the cost to processing credit cards, so they don’t know how bad they’re getting the short end of the stick.
BankCard POS offers interchange plus pricing to every retail merchant even the small business owners, because it is simply the right thing to do. We don’t have to lie to merchants to make a dollar, because we have done pretty good by telling the truth and offering honest and transparent pricing.
When you sign up to process credit cards for your retail business with BankCard POS you will get a statement every month with an exact breakdown of every transaction type and the interchange rate tied to that particular transaction type. Our markup or margin for providing the credit card processing will be established long, before you accept your first credit card as payment. Our rates don’t generally go up unless Visa, MasterCard and the credit card issuing banks raise the interchange rates and fees, which they tend to do twice a year for different categories. Our Markup or interchange plus rates actually go down as you process more credit card volume and we don’t have bogus or hidden fees.
Please check out our interchange plus pricing page for more information or simply give us a call at 844-538-3576 to tell us a little bit about your business, so we can give you a rate that you actually deserve.
- Accept major credit and debit cards
- 24/7 Personalized customer support 365 days/year
- PCI compliant POS hardware
- EMV ready terminals-with tip adjustments
- No application fees or early termination fees
- Competitive rates
- Low monthly fees and NO MONTHLY MINIMUMS
- Preprogrammed, tip ready credit card processing terminals
- Optional wireless terminals and online payment gateways
- Pin pads and other POS tools.
- Gift & Loyalty
- Merchant Account Cash Advances
- POS systems, POS Hardware, and POS Software
- Lifetime warranty and support
- FREE Websites
- Online Ordering
Retail Merchant Account (Card-Swiped)
Retail Merchant Accounts apply for small businesses that accept a majority of their credit and debit card transactions at their retail store by swiping the cards through the card reader or installing them into the EMV chip reader. A business is considered to be a retail business, when at least seventy percent of their credit and debit card transactions take place at the point of sale with the swipe or insertion of card through the processing terminal. If you don’t swipe or insert at least seventy percent of your credit and debit card transactions, then you would be considered a mail/telephone merchant. The nice thing about BankCard POS is that we set all of our merchant account partners up with interchange plus pricing, so a retail merchant that has to key a credit or debit card over the phone with us doesn’t haven’t to worry about excessive charges for downing grading into a different tier like you would with other credit card processors. Your rates and fees will change depending on you enter the credit and debit card information into your point of sale device, but you’re not going to paying excessive markups on our end.
What is a retail merchant account?
It is an account that a merchant sets up with their bank and a credit card processing company to allow the merchant to accept credit and debit card payments in their retail store. The retail merchant account will enable the merchant to take all kinds of payments at their retail store by electronically submitting the information the through the card associations and banking institutions for an immediate approval. After, the approval process funds get transferred from the credit or debit card account through the banking system into the retail merchant’s checking account. The deposit usually takes place within 1-4 business days depending on a few different variables. The retail merchant can have BankCard POS deposit funds into any bank and any checking account of their choosing.
Why is cheaper for a retail merchant to accept credit and debit cards by swiping?
A transaction initiated by swiping or inserting a EMV card is considered much more secure, because there is a lot less fraud associated with face-to-face transactions for several reasons. Visa and MasterCard charge us less to process credit and debit card transactions that were swiped, so we pass that saving onto the retail merchant the same we do with surcharges for not processing payments in accordance with the guidelines of your merchant account.
BankCard POS proudly offers quality POS systems and the nation’s cheapest credit card processing options to the following areas as well:
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Washington DC