Credit Card Processing

Payment processing is typically categorized into two main categories, “Swiped” and “Keyed,” which reflect the basic methods used to collect card information. In most cases “Swiped” will refer to Retail and Wireless merchants, while “Keyed” will refer to Mail Order, Telephone Order (MOTO) and Internet merchants. Within these main categories are sub-categories, broken down according to the business type and processing techniques of the merchant. See those sections for more details.

Regardless of what category your business falls in, we are the best source for all your merchant account processing needs. We offer the widest selection of credit card point of sale processing solutions on the market, including traditional landline terminals, wireless terminals, virtual terminals and software based systems including integration with your existing Point of Sale System.

PREFERRED Merchants provides superior industry expertise, reliability, customer service 24/7, all at the most competitive prices available anywhere. With our Low Cost Guarantee and expert service, you can relax knowing that you are going to get the best products and service for the absolute best price.

PREFERRED Merchants is dedicated to serving the credit processing needs of retailers ranging from the small corner store to the major retailers and everything in-between. We provide credit card processing services for some of the nation's most successful companies. As a full service payment solutions provider, we provide our clients with a full suite of products including Credit, (Visa, MasterCard, American Express, Discover, Diners Club & JCB), Debit Cards, EBT (a.k.a. Food Stamps), Check Conversion and Guarantee, and Gift & Loyalty Card Solutions. Our services include a full range of processing platforms enabling us to be compatible with virtually any line of Electronic Commerce, Check Verification & POS equipment, hardware and software. We have a broad domestic and international network which runs via our processing banks to your merchant account.

PREFERRED Merchants has earned one of the best reputations in the payment processing industry. No other company can boast higher customer satisfaction or retention rates. At PREFERRED Merchants we never play games, we never make false promises and we don't hide fees…PERIOD!

*** NEVER EVER ANY HIDDEN FEES ***

Our low rates make processing more cost effective for your business and will improve your overall bottom line. Regardless of whether your need is for a Retail Account, Wireless Account, MOTO (Mail Order Telephone Order) Account, Internet Account, High Risk Account, or any number of other payment processing options such as Check Processing, PayPal, Gift Cards or Loyalty/Rewards Cards you’ll find the right solution at the best prices here.

If you’re being offered lower rates by someone else, you should bring the offer to us for review. Don’t be fooled by the false promises of lower rates from those other guys. To begin accepting credit cards, simply complete our online application at no cost to you. Or, contact us directly and you could be accepting all major credit cards in as little as 24 hours…regardless of your business type or credit history.

Retail and Wireless

As a retail merchant, most payments will be taken as a “Swiped” or “Card Present” transaction. Retail merchants typically interact directly with their customers face-to-face and capture card information by physically swiping cards through a terminal or point-of-sale system. The sub-categories within this group include:

• Retail Merchants: Retail businesses usually do business in a storefront or office where they interact with their customers face-to-face. Most transactions are done by physically swiping cards through a terminal or Point-of-Sale system.
• Restaurant Merchants: Restaurant businesses usually need the ability to add tips to their charges. By using a special tip function, they process the customer’s card for the sale then adjust the transaction to include the tip amount before settling.
• Wireless/Mobile Merchants: Wireless and Mobile businesses need to accept and process cards wherever they are located. Usually this means payments are processed away from their office or on the road requiring a portable wireless terminal. Using a wireless terminal these merchants are able to process payments on-site, in real-time, at their customers’ location. Wireless terminals also provides the merchant several important benefits:
  
  • Reduces transaction rates and chance of chargebacks on transactions usually entered as keyed transactions. For businesses such as restaurant delivery this is a great option.
  • Reduces need and risks of carrying large amounts of cash.
  • Ensures payment is approved and reduces declined transactions.
• Lodging Merchants: Lodging businesses such as Hotels, Motels and Bed & Breakfasts will usually need the ability to pre-authorize a transaction when the customer checks in and then adjust and settle out that authorization a day or more later to include additional fees such as taxes and room services.
• Pay at the Pump: Pay at the Pump businesses have some very special needs. Typically these businesses need the ability to pre-authorize transactions at the pump and they settle that transaction once the customer completes the pumping process. In addition, there is special equipment and special pricing required for these merchants that many processors cannot provide. PREFERRED Merchants is not only capable of providing these very specialized payment services, but we can also offer access to processing fleet programs such as Voyager and Wright Express.

M.O.T.O & Internet

As a MOTO or Internet merchant, most payments will be taken as a “Keyed” or “Card Not Present” transactions. These merchants typically collect their customers’ card information indirectly and then can process the transaction in any number ways. The sub-categories within this group include:

Keyed Face-to-Face Merchants: Keyed Face-to-Face businesses usually meet their customers, at some point, in person to deliver the product or provide the service, but they don’t actually collect card information with the customer or card present. Generally, they take orders over the telephone, via fax, mail, email, or the Internet, and then manually key-enter card information into a terminal, software, payment gateway, or other point-of-sale system. Mail Order/Telephone Order (“M.O.T.O.”) Merchants: M.O.T.O. businesses rarely meet their customers face-to-face. These businesses collect orders and card information over the telephone, by mail, fax, or via the Internet, and manually enter the transaction through a terminal, software, or point-of-sale system. Internet or E-Commerce Merchants: Internet and eCommerce businesses conduct business through a website and card information is collected and transactions are processed online, in real-time. The transactions are conducted using a payment gateway that is built into the website.

ATM and Debit Cards

*** Special flat rate pin based pricing available ***

For most businesses, accepting debit cards (also called ATM cards or Check Cards) can be the easiest way to reduce payment processing costs. Debit card processing is worth the effort and PREFERRED Merchants can show you how to take full advantage of debit card processing system.

Once a business is enabled to process Debit Cards the system will allow for them to be processed in one of the following two ways:

Offline Debit Card Processing: The most common way to accept debit cards is as an "offline debit transaction." This type of sale occurs when the business processes the debit card like a credit card. The card is swiped through the terminal and the customer signs the receipt. For the business, they see no difference between a credit card or an off-line debit card. The cost for an offline debit transaction will typically be higher than for an online transaction and in order to process and offline transaction the debit card must have a VISA® or MasterCard® logo on it.

Online Debit Card Processing: If the business utilizes a Pin Pad, debit card transactions can be run as “online debit card” transactions. These tend to be more secure and less expensive than offline transactions. Online transactions must be swiped through the terminal and the customer must use a specially encrypted PIN Pad to enter their PIN #. Approved transactions will be paid to the businesses account in the same manner and time frame that they would be paid on a credit card sale. As an added perk, online transactions will rarely result in chargebacks.

PREFERRED Merchants also offers special flat rate pin based debit transaction pricing. Flat rate online debit pricing is a very uncommon pricing option in the industry, primarily because it means lower profits and revenue to the payment processor. We at PREFERRED Merchants proudly offer this pricing feature as yet another example of our continuing commitment to our clients right to choice. Ask about how this feature could benefit your business.

HighRisk and OffShore Processing

We have a 99.8% acceptance rate, so while everyone else says no, WE SAY YES!

With the highest acceptance rate in the industry, IF YOU CAN’T GET APPROVED BY US, THEN YOU CAN’T GET APPROVED ANYWHERE!

No matter what type of business you have, accepting credit cards is essential to remaining competitive. Unfortunately, if your business has been categorized as “High Risk” you’re probably paying higher rates or, even worse, you can’t find a processor that will accept your account.

PREFERRED Merchants recognizes that not all businesses fit within those other guys ideal types of businesses. In response to this growing need PREFERRED Merchants has introduced PREFERRED Risk. So, while the competitors label your business as “High Risk” and subject your business to higher rates with substandard service, PREFERRED Merchants offers your business very competitive rates with the same level of service we offer each and every one of our clients.

Regardless of credit history, processing volume or business type, within 48 hours your business could be accepting all major credit cards. Click here to start the online application and approval process.

Bad Credit Merchant
With PREFERRED Risk, bad credit is never a problem. We approve merchant accounts regardless of credit history By signing up today you’ll soon be processing payments at rates competitive with many traditional accounts. In most cases we can have you approved within 48 hours and setup to process immediately after. You don't want to lose another sale all because your business doesn't accept credit cards. Apply today.

High Risk Merchant
If your business has large processing volume, high turnover, an increased risk of fraud, a low credit rating, or in one of those “prohibited business categories” like below, you’ve probably been categorized as a “High risk merchant” by most service providers. As a “High risk merchant” you’re probably finding it extremely difficult to find a merchant account provider that will treat you fairly, but the good news is PREFERRED Risk was specifically designed for merchant accounts such yours.

With PREFFERED Risk we welcome all merchants. We know how difficult it is to start and run a business, so figuring out how to accept credit cards should be the last problem taking you away from running your business. Apply today and we’ll take care of everything so you can get back to business.

International Merchant Accounts
With PREFERRED Risk, we can offer not only domestic, but also International, Offshore, or Canadian merchant accounts. If your business needs to process in a foreign currency, we can easily set up your international merchant account. We deal with many International and Offshore processors including Canada. Apply today and we’ll take care of everything so you can get back to business.

Chargebacks

A chargeback is the term used when a cardholder disputes a charge posted to their credit card account. There are a number of reasons a chargeback can occur. Some of the common reasons are:

• When a purchase was not authorized by the cardholder (fraud)
• When goods or services are not provided as expected or promised
• When goods or services are provided but defective

The majority of chargeback’s are avoidable. By providing good customer service and providing your products and services as promised, you should be able to avoid the vast majority of chargeback’s.

There are simple steps every business can take to help avoid chargeback’s related to fraud. As a merchant account holder, it is your businesses responsibility to train and educate your employees and staff about processing rules, procedures and precautions.

For businesses accepting and swiping cards at the time of the transaction, there are several simple steps that can be taken to reduce fraud and chargeback’s:

• Always compare the signature on the receipt with the signature on the back of the card.
• Always examine the card to ensure it is not altered or suspicious looking.
• Request identification such as a license or some other picture ID.
• Make sure the business name on the receipt or invoice matches the name on the merchant account.

For businesses accepting and taking credit card without the customer present, such as over the phone or Internet, the chance of fraud and chargeback’s is much greater. It is very important for these businesses to put systems in place to help verify legitimate processing activity. At the time of the transaction, there are several simple steps that can be taken to reduce fraud and chargeback’s:

• Call customers to confirm their order if the billing, shipping & contact addresses do not match.
• Ask for the code number on the back of the card (or front with American Express®) to confirm that the card is in the customer’s possession.
• Use the Address Verification System (Referred to as AVS). This will verify the account holders address and billing information and require the user to know it at the time of purchase.
• If you receive questionable orders, call to confirm the order with the cardholder. If you have reason to believe that a card is fraudulent or otherwise questionable, always call the card issuing company for a voice authorization.
• Make sure the business name on the receipt or invoice matches the name on the merchant account.

Despite the efforts of even the most diligent businesses, some chargebacks just can’t be avoided. When they occur the business is provided the opportunity to dispute the customers’ chargeback claim. In these circumstances it’s important that the business handle the response diligently and provide as much proof of the transaction as possible.

If you have more questions concerning chargebacks or your businesses rights, please contact us or the card issuer for more assistance.

Rates and Fees

Unlike those other guys who make ridiculous and claims about how great their rates are, yet hide their rates unless you contact them, we freely put our rates out to be seen. Why? Because we know that we are the best…Anywhere! If you’ve been offered a lower rate it almost certainly contains hidden fees. However, in the unlikely event you find a legitimately lower rate, bring it to us and we’ll meet or beat that rate. See our Price Guarantee for more details.

Regardless of your business or circumstances, call us today and see why WE WILL NEVER BE BEATEN ON PRICE OR SERVICE!

*** NEVER EVER ANY HIDDEN FEES ***