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Touch-Tone Credit Card Processing
Suggested
Business Use: Seasonal and Low Volume
Businesses, Mobile Merchants
Touch-tone
processing allows you to process credit cards and
check cards (debit cards with Visa or MasterCard
logo on them) using a normal touch-tone phone or
cellular phone. It is simple to use and a great
alternative for seasonal and low volume
merchants. There is no equipment or software to
buy.
These
types of merchants would benefit most from using
touch-tone processing:
Summer/Winter recreation
rentals
Firework stands
Tradeshows/Expos/Conferences
Christmas tree farms
Craft vendors
Mobile merchants
Plumbers, electricians and
other trades people
NOTE: Depending on the
Merchant Account Provider they may or may not
take year-round businesses, be sure to check with
the provider for details.
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How It Works |
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How touch-tone
processing works is you dial an 800-number from
your touch-tone phone, you are then connected to
an interactive voice response unit. You will then
enter in your merchant account number (which you
will get when you first sign-up for touch-tone
processing), the customer's credit card number,
expiration date and amount of the sale using the
telephone keypad. Once the transaction is
approved, the transaction is held for settlement
which will automatically be completed every
night. The funds are then electronically
transmitted to your business checking account, at
your local bank, anywhere within 48-72 hours.
That's all there
is to it, no sales slips to mail or depositing
credit card drafts at your bank. Every month
you'll receive a statement in the mail outlining
the details of your credit card processing
activity. Anytime you want you can access batch
totals and track your daily activity from any
touch-tone phone.
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Pricing
Information |
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Here's a look at
the typical estimated rates and fees you will pay in
order to use touch-tone credit card processing:
| Discount Rate: |
2.49 - 3.95% |
| Transaction Fee: |
$0.50 and up |
| Monthly Minimum: |
Up to $25 |
| Monthly Statement
Fee*: |
$10 |
| Annual Fee: |
$50 and
up (sometimes waived) |
| Setup Fee: |
$0 - $99 |
| Manual Imprinter: |
Optional;
prices vary - inquire with the provider |
* Those
months when your business is inactive you can
deactivate your account so you don't incur the
monthly statement fee, but rather just the annual
fee instead. You can then reactivate once your
seasonal work starts up again.
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Touch-Tone
Processing Resources |
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Most Merchant
Account Providers can provide touch-tone credit
card processing, most though never mention it on
their website. If the provider tries to talk you
into setting up a swipe terminal instead then
you'll need to look elsewhere. If you're a
seasonal merchant with low volume there's no need
to high cost software or equipment.
Touch-Pay/Thompson Merchant
Services - *Highly Recommended*
Offers the Touch-Pay touch-tone credit card processing services.
It can be used with your office phone, portable phones and cell
phones. The rates for their Touch-Pay touch-tone service
are:
TOUCH-PAY OPTION
#1: $19 setup fee (waived for
Non-Profits), 2.19% per credit
card transaction, $0.75 per transaction, $9.99/month, no
contract/cancellation fee, no annual fee, free online
reporting!. you
can processing credit cards wirelessly. That's it!
You're in business to make money, TMS is in business to increase
your overall sales and revenue, not steal it from under your
nose.
TOUCH-PAY OPTION #2:
$19
setup fee (waived for Non-Profits), 3.85%, $10.99/month, no
contract/cancellation fee no annual
fee, online reporting not included with this option (But is
included with Option 1).
OR TOUCH-PAY ADVANCED:
If you're a
merchant that has an existing or is looking for an
online/payment gateway merchant account (with us or another
provider) and would like to simply tie-in and use that existing
account from your touch tone phone for mobile transactions,
visit
www.touchpayadvanced.com. This service allows you to use
your existing online gateway account to securely accept mobile
payments from your touch-tone phone without needing a new
merchant account or any additional equipment. Touch-Pay
Advanced also allows you to create multiple pin numbers and
assign them to users within your company that will enter
touch-tone orders.
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