Month to Month Merchant Processing
Accepting and processing credit card and debit transactions can be an expensive cost for all businesses including Oceanside; so much so that on October 1st 2011 congress passed the Durbin amendment named after Illinois congressman Dick Durbin. It is an amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. This law reduces by 50% the average amount that retailers (i.e. the restaurant owner) pay for debit card transactions. Though this law helps protect you, there are many facts you should know about the credit card processing industry.
The Durbin amendment affects the interchange rate charged by the acquiring banks, however many parties involved in the processing network get a small cut of each transactions fee aside from the interchange rate. This includes the person that sold the credit merchant account, the company they work for as well as other possible parties.
As a consumer and restaurant owner, who do you trust? It is a tough situation to be in as we have been there too. Though it is easy to find a company that will offer great rates, it is benneficial to partner with a company that has other inclusive services you cannot find anywhere else. This is why we process our own credit card transactions through Mercury Payment Systems and the reason why we recommend Mercury to provide you with your credit, debit and gift card processing services.
Why Oceanside Chose Mercury for our Own Processing Solution
- The Mercury gift card program is free.
- Mercury does not require a long-term contract.
- Account setup and qualification is a simple process.
- Mercury has 24-hour US based support for questions and concerns.
- Mercury has an In-House Merchant Financing Program.
- Mercury has no direct sales staff which can equate to lower rates.
- Mercury has 24-hour next day funding with HSBC bank members.
- Like Oceanside Mercury is certified with the RSPA.
- We have yet to see Mercury fail to beat other companie's rates.
- Mercury's technology solution impressed us beyond our expectations.
- They provide Stand-In authorization when the card authorization network is unavailable.
- They were rated #4 best companies to work for by cobizmag.com Colorado's business magazine.
- They invest in their employees and offer 16-week training programs in leadership.
- Mercury won the "Best Overall" Award from the Retail Service Providers Association (RSPA) in 2011 & 2012.
It is easy for companies to promise better rates; they all do it. However, it is challenging to match the added services and benefits that Mercury offers their customers because Mercury focusses on the point-of-sale industry and invests in their employees. They are a professional company and we are proud to have partnered with them to offer restaurant, bar and quick-service owners an exceptional processing service.
Call Oceanside at 1-888-YOU-OCEAN or click here to email us for more details about Mercury's Merchant services that are directly integrated into Oceanside POS ®.