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Old 06-25-2014, 02:08 PM   #1 (permalink)
 
Join Date: May 6 2004
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Sunlync Credit Card Rates: Who's Best?

I'm making the big switch to Sunlync. I want to integrate all my EFTs and POS credit card transactions.

Currently using Gulf Mgmt for EFTs (4% yearly avg) and Bank of America for POS (2.07% yearly avg). I know these rates should be lower.

Which credit card company do you use? Merchant Warehouse or Slim?
How are the rates?
Are you happy with them?

Please PM me if you prefer.

Thanks!

Mike
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Old 06-25-2014, 07:29 PM   #2 (permalink)
 
Join Date: Aug 21 2007
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Re: Sunlync Credit Card Rates: Who's Best?

All good questions. Credit card processing is getting to be big business and constantly changing. I also use Sunlync and can speak on this issue. There are 2 things to separate in your mind: the company that captures the card and transmits (Merchantware or SlimCD), and then there is the merchant services processing company (FirstData, Merchantware, also doubles as both, or other bank or other merchant services company).

Despite the reputation, I have personally had an excellent relationship with FirstData and have low rates over many years. This is why I didn't go with Merchantware who does capture and merchant services processing. So I went with SlimCD.

Here's the part that has changed over the years: the capture company is now charging fees. It used to be that you would purchase a lifetime software agreement with verifone or some other company and you would have a capture. Now, the software companies have wised up and figure they can get a cut at the capture side and the merchant services processing side. How smart of them, eh? All under the guise of security, PCI compliance, on and on.

So it's a little tricky for you to decide. Since you are using Sunlync, the choices are a little simpler. Stick with your current merchant services and go with SlimCD. Or ditch your current merchant services and go with Merchantware. You'll have to crunch the numbers. AND you need to check that your current merchant services works with SlimCD.

It's quite a headache.

And just a side note (I should probably post this in a different thread): Sunlync will soon be offering the abilities that Tony has been discussing with regards to getting new card numbers when cards go bad. Interesting developments.
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Old 06-25-2014, 10:27 PM   #3 (permalink)
 
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Re: Sunlync Credit Card Rates: Who's Best?

Quote:
Originally Posted by uts-sj View Post
All good questions. Credit card processing is getting to be big business and constantly changing. I also use Sunlync and can speak on this issue. There are 2 things to separate in your mind: the company that captures the card and transmits (Merchantware or SlimCD), and then there is the merchant services processing company (FirstData, Merchantware, also doubles as both, or other bank or other merchant services company).

Despite the reputation, I have personally had an excellent relationship with FirstData and have low rates over many years. This is why I didn't go with Merchantware who does capture and merchant services processing. So I went with SlimCD.

Here's the part that has changed over the years: the capture company is now charging fees. It used to be that you would purchase a lifetime software agreement with verifone or some other company and you would have a capture. Now, the software companies have wised up and figure they can get a cut at the capture side and the merchant services processing side. How smart of them, eh? All under the guise of security, PCI compliance, on and on.

So it's a little tricky for you to decide. Since you are using Sunlync, the choices are a little simpler. Stick with your current merchant services and go with SlimCD. Or ditch your current merchant services and go with Merchantware. You'll have to crunch the numbers. AND you need to check that your current merchant services works with SlimCD.

It's quite a headache.

And just a side note (I should probably post this in a different thread): Sunlync will soon be offering the abilities that Tony has been discussing with regards to getting new card numbers when cards go bad. Interesting developments.
So which company/combo do you use?
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Old 06-26-2014, 10:30 AM   #4 (permalink)
 
Join Date: Aug 21 2007
Location: San Jose, CA
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Re: Sunlync Credit Card Rates: Who's Best?

Despite the reputation, I have personally had an excellent relationship with FirstData and have low rates over many years. This is why I didn't go with Merchantware who does capture and merchant services processing. So I went with SlimCD.
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