Demystifying Merchant Accounts

If your business takes credit cards, you need a merchant account with a bank. Everyone who takes plastic has one, and nearly every bank offers them. A merchant account basically bundles your credit card transactions and then settles with the credit card companies. Merchants get their money within 24 to 72 hours

Good News, Bad News

The good news is that with a merchant account you will get your money. The bad news is the amount of money you receive depends on how much your bank charges for dealing with the credit card companies. There is a dizzying array of fees depending on which card a customer uses, per transaction fees, different percentage rates of sale, etc.

Solid Cactus Goes Large

We’ve established a relationship with Chase Paymentech and we recommend them to all our clients. They are the largest credit card processor in North America. In 2004 alone they handled 13 billion transactions; they service nearly 600,000 merchants. Julie Randolph from Chase Paymentech says that with the Solid Cactus program you won’t find lower rates or better service in the marketplace.

“People worry about the payment process,” says Julie. “They don’t know what they’re being charged on an account, they don’t know how to reduce the payments and they think they have to go with a local bank. Not true.” Many merchants sign up with the bank where they do other business. “Local banks don’t always offer the best rates,” says Julie. “Chase Paymentech has our own proprietary platforms and systems. Many local banks go through systems like ours, which makes their prices higher. We effectively cut out the middle man to save you money.”

Personal Attention

Chase Paymentech begins by analyzing your merchant statements. Then they do a model analysis to show how much you can save by switching. “We take the time to analyze each business individually, no matter how large or small,” says Julie. “We make recommendations to reduce the cost of accepting a credit card; we search for more favorable rates and install new procedures and practices merchants may not know about.”

Want to Start Saving?

Solid Cactus is ready to start saving you money on your merchant account and give you a free gift! Several Solid Cactus clients have already switched to Chase Paymentech and are saving thousands of dollars a year and we want to count you among them. Simply fill out the form on page 5 and fax to us at 570-270-3476, or email us the information at chase@solidcactus.com. Once received, you’ll be contacted by Paul Boyd, our dedicated rep at Chase Paymentech. At the end of the day it’s about how much of that money you get to keep. Chase Paymentech is our choice for getting more bucks back for your business!