Merchant Services


CGF II, Certified Grumble Framer Level 2
Oct 3, 2004
Santa Fe
I would like to setup the credit card system (nerchant services) for my new shop. Who do you recommend? Thanks.
Talk to someone local, see what their equipment looks like. I hear there are regulations coming in the future that will affect all of our equipment.

Did you check with Costco? They have a pretty good program for the Executive members. Also Sams Club. I am with the bank I do business with. When I rechecked my rates I called and asked them to match Costco and because of my longevity with them they did! I very rarely every have any problems and all supplies are free. I own my equipment.

We are suppose to move to being a cash less society and use just cards that have been loaded with different amounts, this may affect your decisions. I have a friend who still does not accept credit cards and is doing just fine. My business is at least 60% credit cards and I do not take Discover or American Express, way too expensive.

Good Luck - READ THE CONTRACTS ABOUT 10 TIMES before signing!
I cannot recommend any particular one – they all, in my opinion, should be imprisoned for usury.

Rates will vary considerably depending upon your volume of transactions, but a lot have “hidden” charges, e.g. the percentage (2 – 3-/12%) <u>plus</u> a fixed transaction fee (like 10 – 15¢) <u>plus</u> a monthly “maintenance” fee (like 10.00 – $15.00). They all add up in a hurry.

You can either buy or lease a terminal. Do the arithmetic. In the long run it is cheaper to buy, but you won’t get service (but I have never had any problems with mine).

For years I have resisted buying or renting a printer. I still emboss the triplicate strip. I’m saving a few bucks per month that way.

Once you get established, other merchant service companies will come out of the woodwork and get you to switch. At that point, the pricing will get really competitive.
I'm using NPC at both of my locations. I have been happy with them. I suggest you purchase your equipment. It saves you big in the long haul. Another thing to think about is adding the external keypad so that your customers can key in their PIN number. Using that technique removes the percentage and you get charged the transaction fee only.
I went thru BJ's club... it is Chase Merchant Services, and have been reasonably happy with the service. Although, as Bill said - they should be imprisoned. Rates constantly go up from the initial low rates promised and there seems to be little we can do to affect that.

My one peeve is that I believe this is one of the company's that uses overseas customer service - which I was made aware of by one of the evening journal shows... the c/s is taken out of this country and moved to India where they train college educated personnel and pay them less than personnel would earn here but more than they could earn there.

So, if I seek a new provider - I will try to find one that keeps the jobs in America. Hopefully.
We're happy with Nova. Have used them for 3 years and the rate only went up once, when the whole industry did.

No bs or problems.

We bought the equipment for a fraction of their crazy asking price, (new) via ebay. This is what I recommend. If it breaks, Nova will replace it for a flat fee ($50 I think). They fedex you a new one with a postage paid return package to send yours back.

The service has been reliable, but the equipment has had to be replaced 3 times so far in 30 months. (Hypercom T7P-T) I have 3 of the same terminals at one of my other businesses (also w/Nova) and those suckers have NEVER broken down, and get almost constant use during business hours. I'm just unlucky with such things!

A lot of grumblers in the past have suggested but I don't have any personal experience with them.