Top Convenience Stores in El Paso, TX 79901
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Howdy's Food Mart
By Jason February 11, 2011
Me: You want to scan my driver’s license to purchase alcohol? Well,… what information are you extracting from my license, what will you retain, what will you do with it, what security measure do you have in place to protect my information, what assurance can you give me that my personally identifiable information (PII) will not be disclosed to a third party? Howdy’s: der, I don’t know. You can ask the manager, but he’s not here. Me: then you cannot scan it. ...read more
MERCHANTS FIRST CHOICE
By Arizona Boat Rentals & Jet Ski Rental January 13, 2011
Thanks for your MC network connection, you have a great company. If we can ever be of assistance with any of our watercraft rental services please let us know. ...read more
bug consultants you can do it pest control
By robert January 09, 2011
Please call if you wqnt a good deal on a car detail.. ...read more
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Read The Latest Newsletter from MERCHANTS FIRST CHOICE
We've just published a new edition of our newsletter! You can check it out on our website and get the latest information from MERCHANTS FIRST CHOICE. Let us know what you think! Read It Now Here ...read more
By MERCHANTS FIRST CHOICE February 28, 2011
Read The Latest Newsletter from MERCHANTS FIRST CHOICE
We've just published a new edition of our newsletter! You can check it out on our website and get the latest information from MERCHANTS FIRST CHOICE. Let us know what you think! Read It Now Here ...read more
By MERCHANTS FIRST CHOICE February 14, 2011
The Nasty TRUTH Behind FREE Credit Card Machine Offers..
Hello Folks, welcome to my next installment of my "Behind The Scenes, Merchant Service Blog", where I attempt to expose some of the little secrets behind the Merchant Service Industry, in an effort of educating you and saving you money! I must say... my last post has caused quite a stir among my fellow peers in the Industy. This of course is a good thing- if you are a Merchant. Let me first start off by saying that a sales agent that offers you a FREE credit card machine is not necessarily out to "rip you off" and it is a very common practice to see these kind of offers in our Industry. In fact, our company offers a very competitive FREE terminal program, just like every other guy out there. The problem that I have is when a sales agent fails to thoroughly disclose what you are REALLY going to pay when you sign up for that "FREE credit card terminal" offer. I've been in the Merchant Service Industry for over 9 years and have worked closely with almost every major processor in the Industry. I am quite familiar with many of the product offerings and services that are available to merchants, including all of those "Freebie" programs you see advertised online. As you have probably already guessed, a "FREE Credit Card Machine" is about as FREE as those "Video Computer CD Tutorials" that you see on infomercials late at night. You know, the "FREE Computer CD Lesson" that only costs you $10.00 or more for shipping and processing? When did "FREE" require my credit card number and a $10.00 charge? Yup, as the old saying goes, "Nothing in life is FREE except life itself." Still believe in those "FREE Credit Card Machine" programs? Okay, let me further illustrate my point. I would like to use my Mexican Food analogy (Yes, I love Mexican Food). Most Mexican Restuarants wouldn't simply serve you a plate with a tortilla, ground beef, and a side of cheese. They would probably fold the tortilla in half, place the meat and cheese in the tortilla and call it a,"taco". Don't like taco's? No problem. They can unfold the tortilla and place the meat and cheese back in the tortilla. Then fold in the ends, roll the tortilla, ground beef, and cheese... Shazam! now you got a "Burrito!" Not into Burritos, ehh? Don't Worry! They can unfold one of the ends of the tortilla and now it's a "Beef Wrap." Don't like those new trendy wraps, huh? Okay, how about taking the cheese out and melting it on top for a nice "Enchilada"? This analogy is making me pretty hungry, so I will stop there. The point is, no matter how you package it, you're still eating the tortilla, meat and cheese you started with. The same is true when it comes to Merchant Services. There are so many different pricing models and variations of the same thing. At the end you will end up paying for that "FREE Credit Card Machine" whether you get it FREE or buy it upfront. The real question is... How much will you pay and which is a better deal? Now that we have established that "FREE credit card machines" do not exist, we need to compare the costs associated with these kind of "FREE" programs (versus an upfront purchase). When I started in the Merchant Service Industry almost a decade ago, we were literally selling credit card machines for $2,000-$3,000 on a 4-year lease! This was normal for every agent in the industry! Boy how times have changed! We now sell BRAND NEW credit card machines for as low as $149 on our website (www.MyCreditCardMachine.com). So, lets take a look at some of the most common ways that most Merchant Service Companies off-set their initial investment of having to purchase your credit card machine (remember, nothing is FREE and someone has to flip the bill). Here are some of the most common charges that you may run into on a "FREE Credit Card Machine Program." Keep in mind, that in most cases these charges can be waived if you purchase a credit card machine upfront: Higher Monthly Statement Fees (typically $5-$10 per month more) Monthly Minimum Processing Fees (typically $20-$25 per month on top of your monthly statement fees) Higher Batch/Settlement Closing Fees (typically .25 cents or more per batch) Annual Fees or Fees billed Quarterly (anywhere from $79 to $250 per year!) Higher Processing Rates (Anywhere from 00.25% to 1.50% more on every sale!) Higher Authorization/Transaction Fees (Anywhere from .05 cents to .20 cents more per transaction) Monthly Equipment Rental Fee (usually $5 to $30 per month) Monthly Equipment/Supply Fee (usually $5-$10 per month) High Cancellation Fees (anywhere from $250 to $1,000) Mail-in Rebate Forms (Offered after your first year of processing. Very strict guidelines in hope that you will fail to meet the exact terms and be disqualified from your rebate. These programs typically rely on higher processing fees too) I'm sure that there are many other items that can be added to the aforementioned list, but these are some of the most common charges that you will find. You may not run into all of them, but I can almost bet that you will see at least a couple of these hidden in that Merchant Processing Agreement (read the fine print).So, lets take a look at a few of these items and see how much it would cost our friend, "Chewy."Chewy opened up a store in El Paso, Texas and was offered a "FREE Credit Card Machine" by one of the local Merchant Service Companies. Chewy thought that he was a pretty slick business owner, so he decided to take the "FREE Credit Card Machine" offer.Chewy processes about$5,000 per monthin credit card volume and swipes about250 credit cards per month. Chewy is being charged the following rates, in addition to what he would have paid if he had simply purchased a credit card machine: CHARGED IN ADDITION TO STANDARD RATES $79 annual fee .10 cents per transaction more 00.25% more So, lets do the math and see how much Chewy paid over the last3-yearsthat he has owned his "FREE Credit Card Machine." Remember, this is on top of what he would have normally paid by simply buying a machine upfront. $5,000 per month X 36 months= $180,000.00 250 transactions X 36 months= 9,000 transactions $180,000.00 in Volume X 00.25%=$450.00 9,000 Transactions X 0.10 cents=$900.00 $79 Annual Fee X 3 years=$237.00 TOTAL COST FOR FREE MACHINE $1,587!!! So, as you can see paying $149 bucks for a credit card machine makes more sense than paying $1,587over a three year period. Most Merchants keep their Credit Card Equipment for 5 years, so these estimates are at best- conservative.So, why do we offer a "FREE Credit Card Machine Program" like all of the other guys? Well, to be Frank- we have to. We have to remain competitive and "FREE Credit Card Machine" will always draw more attention in advertisements than "Buy NOW For Only $149."So, we have to run those "FREE" offers to get you to call us. Otherwise you'd never give us an opportunity to talk to you about our programs, now would you? However, I think what really sets us apart from our competition is that we are true believers in the "Golden Rule" and always make an effort to thoroughly educate our clients. Believe it or not, 9 times out of 10 our clients opt to purchase their equipment and get the LOWEST RATES, as opposed to getting the so called, "FREE Credit Card Machine."Remember, there are only 100 pennies in a dollar and if a Merchant Service Company offers you a program that makes it seem like there are 110 pennies in a dollar... Run away and give us a Call.Jamil J. AdairMerchants First Choice, Inc.(915) 208-4033 Ext 65www.MyCreditCardMachine.comwww.4myATM.comwww.MerchantsFirstChoice.netAbout the Author:Jamil J. Adair has been in the merchant service industry for over 9 years. Mr. Adair is President/Ceo of Merchants First Choice, Inc a nation-wide full service provider of multiple electronic payment solutions. Mr. Adair has been featured in numerous ATM/Merchant Services industry trade publications including "ISO&Agent; Magazine", "ATM Marketplace", "Self-Service World", "Digital Screen Media" and "Kiosk Marketplace." Merchants First Choice, Inc. is a registered and bank sponsored sales organization of American State Bank, Sioux Falls, SD. ...read more
By MERCHANTS FIRST CHOICE January 09, 2011