All merchant accounts have processing fees, however since Cash Practice Systems® generate a high-volume of new applications for our merchant bank, Processing Point SAGE, we were able to negotiate competitive rates. Our standard processing rates are very competitive, however if you would like to request a competitive rate analysis, please provide us with a recent statement (all pages) or quote which can be faxed to (877) 291-5825 or uploaded securely HERE. *Be sure to write “REQUESTING RATE COMPARISON” at the top of your merchant statement or quote, along with your Cash Practice Systems® account number. If we do not receive a comparison request, you will be set up on our standard rates.
RETAIL Merchant Account - Simple Swiper, Virtual Terminal Credit Swiped or CP Mobile:
RETAIL means that you process credit cards in a storefront or office where you interact with your customers face-to-face and physically swipe credit cards through a terminal.
MOTO Merchant Account - Recurring Auto Debits or Virtual Terminal Credit Keyed:
MOTO means that you process credit cards in an environment where the customer and/or the credit card are not physically present at the time of purchase, either by key-entering in the information, accessing a credit card on file, or setting up an Auto Debit. Another term used for this is card-not-present credit card processing.
EFT Merchant Account - Processing Checking or Savings Accounts:
Bank EFT stands for Bank Electronic Funds Transfer. It can also be referred to by Electronic Checks, ACH, Virtual Check, or Direct Check Debit. To use Bank EFT, you will need the patient's bank routing and account number.
Credit Card Network Fees - regulated and charged by Visa/MC/Discover (Applies to ALL merchant processing companies, these are fixed fees and no processor can give you a "lower rate" or "better deal" on these. They are also non-negotiable):
For PCI fees, please click HERE.
FEES for DECLINED / VOIDED / REFUNDED CREDIT CARDS and CHARGEBACKS:
For more information about chargebacks, click HERE.
Tags: fees, merchant, account, rates
Updated: 1/15/18 LB