5 Reasons Your Current Credit Card Processor Is More Expensive Than You Thought!

1.  YOUR PAYMENT PROCESSOR DOESN’T SEAMLESSLY INTEGRATE

WITH YOUR ACCOUNTING SYSTEM, LEADING TO WASTED TIME DUE TO DOUBLE ENTRY

When your accounting software (like QuickBooks®) and your credit card processing software are not properly integrated, you have to enter in the same information into two separate systems. This costs valuable time, and can lead to data entry errors. Unlike many payment processors, Novera Payment Solutions offers programs that allow your company’s accounting system and credit card software to seamlessly integrate. Taking the effort to research and make sure your payment processor offers this type of integration can save you a significant amount of time and money down the road.

It felt like you got a great deal on your credit card processing when you signed up, but suddenly you noticed your rates seem higher, you are receiving confusing statements, and it looks like you are paying much more than you thought you would be. This scenario is not that uncommon for many business owners. 5 REASONS YOUR CURRENT CREDIT CARD PROCESSOR IS MORE EXPENSIVE THAN YOU THOUGHT (AND HOW TO FIX IT!)

2.  YOUR PAYMENT PROCESSOR LIMITS YOUR ABILITY TO GROW AND RUN YOUR BUSINESS AS EFFICIENTLY AS POSSIBLE BECAUSE THEY DO NOT SUPPORT INTEGRATED POINT OF SALE, ONLINE PROCESSING OPTIONS, AND FLEXIBLE MOBILE PAYMENT OPTIONS

In today’s world, consumers demand choices when it comes to paying for goods and services. If your payment processor does not support ALL standard payment options, including integrated point of sale, online payment processing, and mobile payments, you are potentially losing sales. Novera Payment Solutions offers solutions that can integrate all methods of payment to help maximize your sales and grow your business.

Integrate your credit

card payment

processing with your

accounting software to

save time and money

4.  YOUR PAYMENT PROCESSOR HOLDS YOUR FUNDS LONGER

THAN YOU WOULD LIKE BEFORE DEPOSITING THEM INTO YOUR BANK ACCOUNT

Credit card processors will hold onto your funds for a few different reasons. This is commonly done in an attempt to prevent fraud, merchants closing on accounts while still owing fees, and / or charge-backs. When processors hold on to funds for an extended amount of time, your business’s cash flow can become severely restricted. This can pose serious problems when it comes time for you to pay bills or meet other financial obligations. Take the time to learn what your processor’s policies are and how soon you can expect to see the deposits in your bank account. Novera Payment Solutions can make your funds available the next business day with our next day funding program.

3.  YOUR PAYMENT PROCESSOR MAY DISCLOSE “DOWNGRADES” WITHIN THE FINE PRINT, MAKING IT DIFFICULT TO KNOW EXACTLY WHAT YOU ARE PAYING AND WHY

Everyone hates reading the fine print, but doing so is crucial to making sure you’re getting the best possible deal. “Downgraded” rates, commonly known as mid-qualified and non-qualified rates are higher rates that are associated with riskier transaction types (i.e. Corporate and Reward credit cards). The qualified rates are the lowest, and thus the ones that advertisers usually promote heavily, however the fine print will contain specific information regarding how each type of transaction is categorized. This information can be easily missed if you don’t read through the fine print thoroughly. Make sure you take the time to really understand exactly what counts as a qualified, mid qualified, and non-qualified rate so you can feel confident that you know exactly what your financial obligations will be. Novera Payment Solutions approach to pricing is one of the most transparent available in the market place today (i.e. Cost + Flat Fee and Flat Rate pricing models available).

Many processors hold your

funds longer than needed.

5.  YOUR PAYMENT PROCESSOR ADVERTISES ONLY THE LOWEST INTERCHANGE RATES WHICH MAY CAUSE YOU TO BELIEVE YOU WILL BE PAYING LESS THAN YOU ACTUALLY DO.

The underlying cost or interchange rates for debit card transactions are lower than credit card transactions, so advertisements typically only promote rates for debit card transactions. Business owners may not realize this until they are presented with the first processing statement. The interchange rates on credit card transactions can be several times higher than the debit interchange rates you thought you were getting. Before signing a contract with any processing company, it is important to make sure you fully understand the financial obligations associated with each type of transaction. Novera works hard to educate clients fully on how interchange works in order to eliminate confusion surrounding this issue.

Beware of false

advertising surrounding interchange

rates

WHO WE ARE Novera Payment Solutions is a provider of credit and debit card payment services for businesses across America, transparently guiding business owners through the complicated world of credit & debit card acceptance. Novera delivers a unique combination of value, integrity and price transparency that is unparalleled throughout the payment processing industry.

Ask us about QuickBooks®

integrated credit card processing!

Understanding Credit Card Processing Fees The card brands in conjunction with the banks that issue the credit cards to the consumer actually set the transactional cost of credit card processing (known as Interchange). They then pass along this transactional cost to the processor, who in-turn adds a profit before providing the retail rate and service to the merchant. The cost or "interchange" is public knowledge and posted on the card brands respective websites. Understanding Tiered Pricing Tiered pricing utilizes the 160 +/- individual transactional costs (known as Interchange). Each transactional cost is comprised of a) unique percent of the sale and, b) transaction fee, both of which are dependent upon the type of card used i.e. (debit, credit, rewards, business etc.) and how the purchase was made (in person, over the phone etc.). These transactional costs (which are the same for all merchants large and small) are categorized into either three or four tiers with each tier housing approximately 40 of the 160 transactional costs or (Interchange).

WE BRING VALUE TO OUR CLIENTS The value lies in both our technology solutions and our pricing model. Novera supports an integrated credit card payment solution for QuickBooks® called InstantAccept® that allows users to automatically have credit / debit card payments made on invoices post into their QuickBooks® accounting software.

NOVERA PAYMENT SOLUTIONS APPROACH Novera Payment Solutions has developed a unique pricing format that passes along all the direct transactional costs; A) Interchange B) The processor fees, including mark-up, and in addition highlights a C) Transparent “FLAT FIXED FEE” per month depending upon the monthly merchant volume. Since everyone knows businesses need to make a profit, we are not hesitant to let our merchant clients know what our reasonable profit margin will be. In addition, this pricing format delivers: 1.  Substantial savings based upon volume 2.  Transparency in pricing 3.  Detailed reporting 4.  Best “cost plus” format available Ask us for a detailed analysis and get an estimate of your potential savings

FLAT FEE PRICING

Transparent,

fair, and easy to

understand

The Challenge With Tiered Pricing Twice per year the card association may review and adjust some of the 160 +/- transactional costs and pass this change along to the processor, who in-turn, may raise the tiered rates to the merchant and create additional profit made on each of its "tiers" (the difference between the underlying transactional cost and tiered retail rate) thus raising the entire expense for the merchant, even if the underlying transactional cost is never actually applied against the merchant for a transaction. Ultimately this can cause the merchants rate to creep upwards over time. Its not simple or very transparent. This type of pricing model can a) be difficult to understand, b) allow rates to increase over time and c) may not provide the best transparency in pricing.

NEXT DAY FUNDING OR WEEKEND FUNDING FOR GROSS DEPOSITS Novera Payment Solutions offers most merchants the option of either “Next Day” or “Weekend Funding”, and always with “Gross Deposits”. Unlike some processors who deduct their rates / fee’s daily from your deposits, fees for our services are not collected until after the month is over. This means your get your money faster and its easier to reconcile with your bank statements.

For Additional Information and to Contact Us Visit: www.noverapaymentsolutions.com/quickbooks

YOUR SAVINGS CAN INCREASE OVER TIME The savings can actually increase over time because unlike the “tiered” structure which raises the overall rate of the tiers when card association changes interchange rates, our program only raises the one line item effected, this is the most transparent way of offering merchant processing.

NOVERA PAYMENT SOLUTIONS IS A GREAT SOLUTION

In summary, our solution not only offers an integrated accounting solution for Quickbooks® users, it also offers a

unique and transparent pricing model not typical in the merchant services industry.