Electronic Money Company

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866-898-7618 or 505-296-2847 | A+ BBB Rating

Credit Card Processing Rates

Credit Card Processing Rates – Are You Paying Tiered Pricing or Cost-Plus Pricing?

Tiered Pricing With this pricing format, the processor throws all transactions into three buckets with only three rates. Generally, one bucket is for swiped transactions, one for keyed transactions and rewards cards, and a third for business cards or keyed-in rewards cards. The buckets are called qualified, mid-qualified, and non-qualified. This pricing system allows for an easy to understand merchant statement because there are only

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Mobile Payment

Mobile Payment Processing for Item Pickup

During the COVID epidemic, and because of the concerns to maintain social distancing, consumers are looking for new ways to shop, purchase, and pay for the things they want to buy. Consumers want to order online,  pick up items, without getting out of their car, and they want a seamless way to use digital payment processing without having to pull their credit cards out of

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The Famous “Restaurant Server Theft“ Soda Pop Game!

The famous Soda Pop Game is played with a POS system, by splitting tickets. Only instead of splitting the cost between two people at a table, the drinks are split off to an open ticket. This server theft works when patrons are paying with cash. Let’s say Table #1 orders two meals and two sodas.  Before the server presents the ticket, he casually asks whether

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Should Merchants Accept Pin Debit Cards?

  It used to be cheaper to take pin debit cards via the debit networks instead of through the credit card interchange networks.  That means that you would take the card and the customer would enter his pin number.  The debit networks are Pulse, Maestro, Interline, Jeanie, NYCE, Star and others.  But since the Dodd Frank Act, it is cheaper to take debit cards just

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Merchants Taking Credit Card Deposits Online for Future Services Getting Cancelled

Do you feel like the guy walking the tight rope? Because of COVID 19, merchants who take deposits online for future services are now considered high risk. Merchants are getting their merchant accounts cancelled or required to deposit reserves to continue processing with their current merchant services provider. In March, many customers cancelled bookings and merchants who sell future services were experiencing a new world

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Square is WITHHOLDING Payments to SMALL BUSINESSES: During Covid-19 Epidemic for 120 Days!

From an article on charge.org Small Business Owners of America started this petition to Square Capital, LLC and 1 other Are you a small business owner that uses Square? BEWARE, SQUARE recently started WITHHOLDING funds from SMALL BUSINESSES: 30% for 120 DAYS Square, Inc. has recently started a process, whereas they are not releasing funds to their merchants for 120+ days, as they are having cash flow problems and their business

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Small Businesses say Square is Holding Their Money!

Quoted from a New York Times article: “Thousands of small enterprises that use Square to process their credit card transactions — including plumbers, legal consultants and construction firms — have complained that the company recently began holding back 20 to 30 percent of the money they collected from customers. The withholdings came with little warning, they said, and Square asserted the right to hang on

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Many Credit Card Processors Are Holding Money as Reserves!

But Not Electronic Money Company! We reprinted Square’s explanation of reserves right from their website.  Electronic Money Company is NOT holding any of our company’s deposits in reserve! Read below: Square reserves the exclusive right to hold your money in reserve! How you won’t know if Square is going to hold your money in reserve until two weeks after you sign up with them and

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Why switch from a credit card terminal to a tablet POS?

What a tablet system can do for you that a terminal can’t. The tablet will allow you to track your inventory, integrate with QuickBooks, and reconcile your credit cards automatically with your sales totals. In addition, the tablet will enable you to clock in employees and export hours to your payroll service company. Online ordering is directly integrated with the inventory in your store.  In

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Save up to 100% on Your Credit Card Processing Fees!

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