Processing is confusing to most but very simple once you learn and understand the basics. Knowing what interchange rates are and how different cards have different rates (mostly because of the benefits associated with the cards) is a good starting point. We help simplify this so you understand where the fees are coming from and then do our best to find you a better rate than what you have today for your business situation.
Being around this business for nearly 20 years it's important for us to work with multiple solutions because there is no one-size fits all. Different scenarios require different solutions so we aim to provide you with options and let you decide what works best for your business.
First off, we will not ask your SSN by one of our reps and it will only be collected during the application process via a secure online process to ensure that information remains only in the hands of the bank/underwriter.
Since September 11, 2001 the need for a social security number is a Federal requirement in most cases when opening a merchant account, which is a powerful financial instrument. It is also used heavily for underwriting.
Under Section 326 of the USA PATRIOT Act, rules come into play for the identification of a business owner. Merchant accounts, by their very nature, are used to send and receive money through a network of financial institutions, including banks and processors. Card transactions make it possible to move money from one place to another quickly. Therefore, merchant accounts fall under the same restrictions and “know your customer”, also known as KYC, reporting requirements as bank accounts. Since merchant services involve parties who may not ever have a face-to-face relationship, a higher level of identification is the order of the day.
The secure system we use to collect this information has been used by thousands of business and continues to meet all regulations to remain secure.
24/7/365 and top-notch -- is there any other way?
Although we aim to get you the right solution from the start, over time, technology changes. If you get to a point where switching programs or software is something of interest then just let us know and we'll gladly help you meet your new needs. This is what we pride ourselves in.
We're really not, we enjoy working with businesses to find the right solutions. It just turns out we're REALLY good with processing after being around it for 20+ years.