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What does a merchant services provider (also called a credit card processor) do? A merchant services provider offers a business the capabilities of accepting credit cards as payment at their business. What is RMS "not" a provider for? RMS does not sell or distribute credit cards to consumers or businesses. i.e.: RMS is not an Issuer. Can RMS assist a new business that has never accepted credit cards in the past? YES. RMS has programs that are tailored to just this type of business and will provide the software or hardware needed to get the merchant set up smoothly. If a merchant already accepts credit cards, how can RMS assist? RMS will run an analysis on a merchant’s current rate and fee structure as shown on their monthly statements. RMS will then prepare a comparison of how much money RMS’ program will save the business on a monthly basis. Why would a business consider accepting credit cards? SIMPLE: Because your competition is! Also, accepting credit cards is an excellent way to retrieve payments from delinquent or frequently late payers. Remember, credit card payments are directly deposited within two business days into the business checking account. Why a merchant "can’t afford not" to accept credit cards in this economy? Consumers are driving the use of Credit Cards and especially Debit cards at every business and have decreased cash and check usage. Example: if a customer can get miles for a $5000 landscaping job, they’ll choose the company that accommodates this. Does a merchant have to pay a higher rate when he or she accepts a credit card payment for a product sold over the internet or a mail/phone order? YES. There is a higher RISK level when a card is “not present” and a signature is not obtained. RMS has many security features in place to limit fraud and RISK for all merchants. What differentiates RMS from the competition? CUSTOMER SERVICE AND COMPETITIVE RATES. RMS takes pride in providing customer service that exceeds all competition. RMS will also be able to provide a cost-effective program for every merchant. Can RMS provide equipment or software that a business will need to accept credit cards? YES. RMS has a full-service equipment distribution department that customizes to all merchants needs. Can a business go directly to MC or VISA to accept their cards? NO. A business must work through a provider like RMS to accept cards at their business. Can RMS get my business a credit card? RMS does not sell or distribute credit cards to consumers or businesses. i.e.: RMS is not an Issuer. Is there a set up fee to switch an account over to RMS? NO. RMS does not charge any set up fee for a merchant who is switching their account over from another processor. Does a merchant have to change banks, bank account or equipment type in order to change over to RMS’ Merchant Services program? NO. RMS will work with any bank account and existing equipment that the merchant has established for their business. Does RMS keep the whole percentage fee that the merchant is charged on each transaction? NO. MC, Visa, American Express, Discover, Diners etc. and the acquiring banks keep 99% of the rates and fees that a merchant pays. RMS only provides the services to the business. |
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