Credit Cards NJ Your Smart Choice for Merchant Services Jennifer R Glass CEO This is by far the most complex industry I have ever been associated with I always tell new employees to give themselves six to nine months to become comfortable with the lingo and to understand how the payment p ID: 766734
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Credit Cards, NJ Your Smart Choice for Merchant Services Jennifer R. Glass CEO
“This is by far the most complex industry I have ever been associated with. I always tell new employees to give themselves six to nine months to become comfortable with the lingo and to understand how the payment processing system works.”– David Schwartz, Director of Marketing, Authorize.net (April 2006)
Mission StatementProvide an easy and secure way for businesses to accept credit and debit cards along with checks and other electronic payment programs in your store, at home, or on the Internet.
Our Product LinesMerchant AccountsACH ProgramsCheck ConversionCheck TruncationCheck Verification Check Guarantee ATM Machines Gift & Loyalty Cards Business/Merchant Cash Advance Business Credit Cards Web Hosting – CCNJ Host .com
Merchant AccountsNo two businesses are alike, so they can't be expected to have the same bankcard processing needs. Although we provide a wealth of standard credit card processing services, we also have a variety of customized solutions to fit any business requirement.
Merchant Accounts (cont’d)Industry JargonQualified transactionMid-Qualified transaction Non-Qualified transaction Rewards/Points-based card transaction Debit/Check Card transaction Interchange
Merchant Accounts (cont’d)Types of accounts:Retail (swiped)Countertop devicesPOS systems Wireless devices MO/TO (keyed ) Virtual terminals eCommerce (Internet sales ) Gateways
Merchant Accounts (cont’d)Typical Costs for Retail (swiped) Accounts1.39% + for check-card transactions1.65% + for credit & check-card transactions 1.89 % + for credit card transactions $0.15 + per transaction (plus NABU fees) $10.00 + for monthly statements & account maintenance Visa FANF fees ($2-$ 40,000/mo.) CCNJ refers all merchant accounts to one or more of the following processors: Capitol Payment Systems/Wells Fargo Bank N.A, Walnut Creek, CA; North American Bancard/ HSBC Bank USA, Buffalo, NY PowerPay /HSBC Bank USA, Buffalo, NY
Merchant Accounts (cont’d)Typical Costs for MO/TO & e-Commerce Accounts 1.89% + for check-card transactions 2.39 % + for credit card transactions $0.20 + per transaction + $0.10 AVS fee (plus NABU fees) $10.00 + for monthly statements & account maintenance $20.00 + for virtual terminal access (monthly ) Visa FANF Fees ($2-$40,000/mo.) CCNJ refers all merchant accounts to one or more of the following processors: Capitol Payment Systems/Wells Fargo Bank N.A, Walnut Creek, CA; North American Bancard/ HSBC Bank USA, Buffalo, NY PowerPay /HSBC Bank USA, Buffalo, NY
Merchant Accounts (cont’d)Terminals Available:Stand-alone terminals (dial-up, IP based or dual-comm ) Several models available to fit your needs Point-of-Sale terminals (computerized systems) Several options available to fit your needs Wireless terminals Several models & plans available based on your usage and needs Online/Virtual terminals Authorize.net and others ??? FREE vs. PURCHASED vs. LEASED vs. RENTED ???
ACH ProgramsCredit Cards, NJ's ACH (Automated Clearing House) program is an electronic funds transfer (EFT) service that enables you to automatically debit your customers from their checking or savings account. Debited funds are deposited into your business account the next business day after collection. Automatic debits are scheduled on the days you choose. Preparing and the mailing of invoices and accepting payment by paper checks and the risks of late payments are all virtually eliminated. Cash flow becomes predictable. Accuracy guaranteed. Plus, your customers will be able to avoid the hassle of writing and mailing checks. And you enjoy money in the bank on time, every time.
Checks Credit Cards, NJ has three options for converting paper-based checks into electronic transactions : Check Truncation Check Verification Check Guarantee
ATMsStore sales increase between 8-12% by having an ATM insideATM cardholders spend an average of 20-30% more then none ATM customers. People use their ATM cards in convenience store more than any other point-of-sale cash back device by nearly 28 to 1 .
ATM (cont’d)Over 90% of the ATM transactions are cash withdrawals, as opposed to balance inquires.Adults use an ATM in a convenience store more than any other service in the store except pay phones. The most popular day for ATM's is Friday. The average withdrawal from an ATM is $43. Studies show that cash retention among large retailers is 30-33%. Smaller retailers can be as high as 40%! Up to 80% of the dispensed cash in nightclubs, remains there. Each year ATM's handle nearly 18 million transactions.
Gift & Loyalty Cards Myth : Only the large retailers and chain stores offer gift cards to their customers Fact : Not true! CCNJ has reduced the expenses to make these programs cost-effective for small retail and even start-up merchants
Gift & Loyalty Cards (cont’d)Gift and Loyalty cards generate money for merchants. Gift and Loyalty cards are great advertising pieces. Gift and Loyalty cards encourage repeat business. Gift Cards are the fastest growing form of non-cash payment in the country. Gift Cards are great to hand-out for promotional events. Gift Cards can be used for store credit in place of cash or refunds on returned merchandise. Gift Cards are compatible with almost all existing terminals. Gift Cards can replace paper gift certificates for easier accounting.
Gift & Loyalty Cards (cont’d)Which merchants would benefit from Gift Cards: Small & large retailers, restaurants and franchises benefit from a gift card program. Gift cards work well to replace traditional paper gift certificates and/or store credit slips. Loyalty cards : Car washes, delis, restaurants, retailers, dry cleaners, and other merchants that depend on and reward repeat business.
Business/Merchant Cash AdvanceA business/merchant cash advance allows you to receive money now in exchange for the purchase of a small portion of your future Visa ® and MasterCard ® sales. Cash advances are deposited into your business checking account giving you immediate access to needed funds. If traditional bank loans are not an option, or you simply want to borrow against your future sales, then a Business/Merchant Cash Advance from CCNJ may be the perfect alternative for you.
Web HostingVia our CCNJHost.com division, we offer hosting solutions on Linux servers.Hosting plans start as low as $18 per year. SiteBuilder , cPanel 11, Wordpress and many more features are available to you * as clients of CCNJ Host .com. * Some programs require additional one-time and/or monthly fees and are in addition to the yearly hosting fee.
Thank you for your time!Credit Cards, NJTeaneck, NJ 07666p. 201.645.0132w. www.creditcardsnj.com e. jennifer@creditcardsnj.com Payments4Business creditcardsnj