Merchant Discount Rate a leading merchant services provider is excited to announce free ShopKeep POS Software for select businesses. Plus get a Free Apple Pay Reader, a $250 value. Both offers are for a limited time. So contact us now to learn how to get Free ShopKeep POS Software!
ShopKeep a leading POS Software company specializes in providing POS solutions to small retail brick and mortar businesses nationwide.
ShopKeep POS is great for many small businesses such as retailers, coffee shops, restaurants, vape retail shops, ecig retailers and much more.
By partnering with Merchant Discount Rate you will enjoy great credit card processing rates, excellent services, and best in class POS technology. Our goal is to help you grow your business!
Call us at 1-877-394-7759 x 1 to learn how to get ShopKeep free pos software! or simply fill out form and we'll call you.
As you know, being able to accept credit cards is an integral part of your business. The line of business you are entering will dictate what service you'll be able to use for your credit card processing. For sakes of this conversation, we are writing to online retailers that are considered High Risk by Pay Pal, Square, and Stripe. Presently High Risk businesses include the online sales of items such as adult novelty, obscene material, pornographic material, drug paraphenalia such as bongs, hookahs, electronic cigarettes, vaporizers, ejuice ( e-liquid ) , Tabacco related products, and other items. ( to see more go to:Paypal acceptable products, Square prohibited products, Stripe prohibited businesses .)
First, lets discuss the con's of PayPal from the standpoint of the business owner accepting credit cards.. Most people are familiar with Pay Pal from using Ebay auctions. Paypal is an Ebay company and this synergy makes logical sense. However Paypal can also be added to most websites. So long as you're not selling questionable products, or High Risk items.
PayPal Con#1 - Unclear on Acceptable Products.
PayPal is not very clear about these acceptable products. Nowhere on the Paypal acceptable products list do they state in a clear manner that they do not accept payments for electronic cigarettes, vaporizers, and ejuice ( e-liquid ). We have encountered many disgruntled Pay Pal customers that were shut down by PayPal for the sales of these items. However, we are also aware of many other customers using Paypal to sell these goods. To add fuel to the fire we called Paypal several times to find out these products are banned. I asked the representative, if this is the case, how come these actual products are not listed. The representative had no reason. Don't take my word for it, call yourself. We find Paypal is constantly keeping you guessing! I personally believe they do this for a reason. Partly because they are making a boat load of money off these products and two, they don't want competitors to know exactly what they are doing.
PayPal Con#2 - Deposits
IF you are one of the ones Paypal hasn't shut down, you'll experience a lag time in getting your deposits. Once you sell an item, your funds are deposited into your Paypal account and not your bank account. You'll need to initiate a transfer to your bank account which takes 3 - 5 business days. This can create cash flow issues. I don't know this for fact but I believe Paypal is making money off the interest of your money while held in Paypal account. Just my opinion. Could also be because Paypal is the holding company and ACH transfers typically take 3 - 5 business days. Nonetheless, your funds are not directly deposited into your bank.
PayPal Con #3 - Website Integration
If you are able to use paypal on your website, PayPal doesn't integrate with websites. Yes you can add a PayPal check out button. But this is not true integration. Meaning, when your customer checks out, they leave your website to go to Paypal to pay. This adds to abandoned carts and lost sales.
Merchant Discount Rate is viable solution for high risk online retailers. MDR is very clear in the products that are accepted. You'll find that our credit card processing solution is a viable and scalable solution for Adult Novelty online retailers, Ecig online retailers, vaporizer merchants. To add, MDR deposits funds directly into your bank account in 24 - 48 hours. Once the sale is transacted and captured by you , the transfer happens automatically. Lastly, MDR integrates seemingly with 400 websites.
Square is another popular method of payment for many retail businesses. However, they do not allow for the online sales of adult specialty products, drug paraphanalia ( water bongs, hookahs, etc.) electronic cigarettes, vaporizers, or e-liquid. Because of this mere fact, Square doesn't represent a viable option. However the reason we are discussing it, is because Square does allow for the sales of electronic cigarettes and vaporizers in retail stores. So if you choose to use Square in your retail vape shop, you'll have to find another solution for your online shopping cart.
On the other hand, Merchant Discount Rate offers you both retail and online solutions under one roof. In comparison to Square, MDR offers a better pricing plan. We can offer you Flat Rate pricing similar to Square or we can offer you a tiered pricing structure that can save you additional savings. We can perform a cost analysis to get you the best savings.
Stripe is another payments solution that doesn't support adult toys, adult specialty stores, ecig online retailers, vape shops, or e-juice online retailers. We have gotten calls from merchants that started processing without knowing the products they were selling were banned. After several weeks up to several months, these merchants were terminated.
Unlike Stripe, Merchant Discount Rate will inform you up front whether the product your selling will be supported or not. MDR specializes in credit card processing for ecig online retailers, vape shops and vaporizer merchants, as well as e-juice companies.
In closing Paypal, Square, and Stripe are not viable solutions for the online sales of adult specialty products, ecig , vaporizer, or e-juice, water bongs, hookahs. Merchant Discount Rate offers the high risk market a long term credit card processing solution. Merchant Discount Rate also offers various pricing models, and website integration. Some of the other competitive advantageous include:
Please contact MDR at 1-805-906-0150 to discuss in detail or simply fill out the form below.
Merchant Discount Rate a Shopify partner offers credit card processing for the Vape industry. Since most of our customers happen to be higher risk online retailers, most Shopping Carts do not support credit card processing. MDR specializes in offering credit card processing to many merchants including but not limited to the Ecig industry. The majority of our customers are using Shopify and as a result this sparked an interest for MDR to become a partner to Shopify.
What makes Shopify so popular with Ecig Merchants is the ease of use, giving online Ecig merchants rich selling features and flexible product attributes. You can easily create your store, pick your store design, customize it to suit your brand, add products, adjust tax and shipping settings, manage orders, manage customers, get sales reports, and accept credit card payments. It’s a simple to use online shopping cart for both big and small online Ecig retailers. Shopify is a viable and scalable solution and will meet most of your online retail needs.
Also, Shopify offers a unique 14 day (no credit card required) trial. So take the shopping cart for a test drive before you fully commit. Even if you do choose to commit, it's only a month-to-month with no contract. If you'd like a discount than you have the option of signing up for a 1 year ( 10% discount) or 2 year ( 20% discount) contract. At anytime Shopify allows you to upgrade to the next plan that best suits your business needs.
MDR decided to partner with Shopify for serval reasons. First because most of our Ecig and Vape customers use Shopify. Secondly, we integrate with Shopify and offer a Free Payment Gateway for Shopify customers. This created a natural fit for a long lasting partnership. Lastly, we believe Shopify offers a great merchant and customer experience overall.
We invite you to do your own comparison and test Shopify yourself. Click 14 day free trial now to begin to see why thousands of merchants choose Shopify.
As soon as a merchant establishes a new business checking account at the bank, they are solicited by the bank representative for credit card processing. This is when the bank representative has the undivided attention of the new merchant. In addition, the bank now has the upper hand because the merchant fully trusts the bank, since the bank will be handling their money. Furthermore, many bank representatives aren't aware of all the fees the bank charges the merchant. As a result the merchant doesn't know what they are really getting into.
Many merchants believe that since they are a customer of a particular bank that they will get better rates from the bank. This thinking is the furthest from the truth. In fact, the bank charges an astronomical amount in fees. The bank rate for processing may seem competitive for the merchant, however monthly statement fees, annual assessments, charge backs, termination fees, annual assessments and many other hidden fees are extremely high, making the effective rate for all the charges to be expensive. Bank of America has an annual assessment of $150 per year for certain merchants. This is ludicrous! Most credit card processing companies offer a $25 - $75 fee annual fee. Wells Fargo charges $40 per month for statement fee versus credit card processing companies fee of $5 - $25 per month. The average for smaller boutique processors being roughly $9.99.
To boot, many banks also put merchants into a 3 year contract and to terminate is very costly. Its amazing, how in a time when the industry is doing away with credit card processing contracts, banks are still able to get merchants into one. Why? Once again, because the merchant isn't aware and because the merchant fully trusts the bank.
In conclusion, ask pertinent questions, such as:
1. Are their any additional charges?
2. What is the annual contract / annual assessment fee?
3. What is the cost for a charge back?
4. How much is the per transaction fees?
5. Is there a contract? How long? How much to terminate?
Ask to see these fees on the application, so that you don't get duped. At the end of the day it is your responsibility to know what your getting into.
At Merchant Discount Rate, it is our primary goal to be transparent with our customers. We outline all the fees associated with our merchant services. We are in the business of building long term partnerships with our customers. If you're happy, we're happy. If you should have any questions, feel free to contact firstname.lastname@example.org or simply call 1-805-906-0150.
Penny Auctions Sites are a new and growing online business, that allows customers to purchase items for far below retail cost. Penny Auctions are extremely exciting and have the excitement of a video game paired with the chance to win great items like an auction site. Penny Auctions require credit card processing services in order to process all of their transactions.
Penny Auctions are considered a High Risk Merchant Account because the payment method is not present. Many credit card processing companies are unprepared to handle Penny Auction processing and entrepreneurs need a merchant account that is specialized to handle these types of accounts.
Merchant Discount Rate specializes in High Risk Credit Card Processing and can usually get approval for most accounts in less than 48 hours. Fill out the form below to be contacted personally by one of our specialized account representatives.