NYOP Client Testimonial
Dr. Andaloro is a chiropractor in Tucson who just started processing with NYOP Merchant.
Need New Equipment?
NYOP is now offering credit card precessing terminals at a DEEP DISCOUNT! Click to Compare a Verifone VX570 from NYOP at $300 to the same unit at Staples for $599 . From merchant accounts to processing equipment, NYOP is the clear choice for every business.
NYOP Merchant and The Tucson Hispanic Chamber of Commerce
Rudy Montijo of NYOP Merchant is excited to be a member of the Tucson Hispanic Chamber of Commerce. They are truly dedicated to helping local business owners succeed.
Save money while supporting a non-profit?
The slowing economy has had an extremely negative effect on non-profit organizations, some have seen donations down as much as 90%! In order to assist non-profits in their time of need, NYOP Merchant has launched the NYOP Cares Program. NYOP Cares is the only one of its kind in the credit card processing industry. NYOP Merchant partners with non-profits to offer credit card processing to local businesses who are already supporting the non-profit. When the business switches it's processing to NYOP, 30% of the proceeds are donated to the non-profit. NYOP Cares allows ...
NYOP Merchant Welcome Video
New Welcome video added to the NYOP Merchant home page. Click Here to visit the site.
Merchant Accounts are a Necessary Evil
[caption id="attachment_39" align="alignleft" width="187" caption="Name Your Own Price Merchant Accounts"][/caption] Credit card processing and merchant accounts are often considered a necessary evil by merchants. As an owner you want to allow your patrons the convenience of paying with credit cards as a form of payment, but with this added convenience comes a loss in revenue in the form of fees paid to the credit card companies and to the processor. NYOP Merchant is essentially eliminating fees paid to processors in the form of mark up by allowing merchants to Name Your Own Price for their merchant account. By taking ...
New NYOP Merchant Client Testimonial
Sandy Walker of New City Promotions made the switch to NYOP Merchant about two months ago and was kind enough to share his experience.
3 Common Credit Card Processing Practices to Avoid
Not a day goes by that I don’t hear of another unfortunate tale of a business owner falling victim to a credit card terminal leasing scam. As the economy slows and times become tough the old saying, “desperate times calls for desperate measures”, seems to take on a new meaning in the merchant account world. This is one of many pitfalls gaining popularity in an industry riddled with half-truths and empty promises. The credit card processing industry, as a whole is experiencing intense competition as sales reps compete to get there hands on and keep as many merchant accounts as possible. ...
NYOP Merchant forms Strategic Partnership with ARA
NYOP Merchant recently formed a strategic partnership with the Arizona Restaurant Association to offer the famous Name Your Own Price Merchant Accounts to all the ARA members. ARA specializes in assisting the needs of Arizona restaurant owners of all sizes. The 8,000 plus members of the ARA account for roughly 8% of the Arizona economy. In efforts to best serve the members of the ARA, NYOP Merchant has dedicated a team of restaurant industry specialists to assist ARA members with their merchant accounts and to answer general credit card processing questions. Click here for more information
Interchange-plus Pricing; changing the face of merchant credit card processing?
There is a lot of buzz around the merchant service industry around the interchange-plus pricing model. As the level of understanding increases at the merchant level, so does the popularity of interchange-plus pricing. Once upon a time, merchants were forced to use a tiered or standard pricing model. Years and thousands of accounts later, merchants are catching on to the scams that have plagued the industry. A common practice is to quote a lower rate for a merchant’s qualified transactions, usually in the neighborhood of 1.65%. The merchant is so excited by the low rate that he/she signs up for the ...
Aug 10
2
NYOP Client Testimonial
Dr. Andaloro is a chiropractor in Tucson who just started processing with NYOP Merchant.
Posted in Testimonial by .
Jul 10
14
Need New Equipment?
NYOP is now offering credit card precessing terminals at a DEEP DISCOUNT! Click to Compare a Verifone VX570 from NYOP at $300 to the same unit at Staples for $599 . From merchant accounts to processing equipment, NYOP is the clear choice for every business.
Rudy Montijo of NYOP Merchant is excited to be a member of the Tucson Hispanic Chamber of Commerce. They are truly dedicated to helping local business owners succeed.
Posted in Company News Merchant Accounts by .
The slowing economy has had an extremely negative effect on non-profit organizations, some have seen donations down as much as 90%! In order to assist non-profits in their time of need, NYOP Merchant has launched the NYOP Cares Program.
NYOP Cares is the only one of its kind in the credit card processing industry. NYOP Merchant partners with non-profits to offer credit card processing to local businesses who are already supporting the non-profit. When the business switches it’s processing to NYOP, 30% of the proceeds are donated to the non-profit.
NYOP Cares allows businesses to save money on their credit card processing as well as support local non-profits organizations that are desperately in need of donations.
Posted in Company News by .
May 10
25
NYOP Merchant Welcome Video
New Welcome video added to the NYOP Merchant home page. Click Here to visit the site.
Name Your Own Price Merchant Accounts
Credit card processing and merchant accounts are often considered a necessary evil by merchants. As an owner you want to allow your patrons the convenience of paying with credit cards as a form of payment, but with this added convenience comes a loss in revenue in the form of fees paid to the credit card companies and to the processor.
NYOP Merchant is essentially eliminating fees paid to processors in the form of mark up by allowing merchants to Name Your Own Price for their merchant account. By taking control of their merchant account, our clients are seeing an average savings of over 60% on their merchant processors fees.
Let the Savings Begin!!
Call today 866-546-2687 or visit us online at www.NYOPmerchant.com
Posted in Merchant Accounts by .
Sandy Walker of New City Promotions made the switch to NYOP Merchant about two months ago and was kind enough to share his experience.
Posted in Merchant Accounts Testimonial by .
Not a day goes by that I don’t hear of another unfortunate tale of a business owner falling victim to a credit card terminal leasing scam. As the economy slows and times become tough the old saying, “desperate times calls for desperate measures”, seems to take on a new meaning in the merchant account world. This is one of many pitfalls gaining popularity in an industry riddled with half-truths and empty promises.
The credit card processing industry, as a whole is experiencing intense competition as sales reps compete to get there hands on and keep as many merchant accounts as possible. Business owners are successfully pitting several sales reps against each other to secure the lowest possible markup on their card transactions. Instead of relying on a high markup on processing, reps are now looking for more creative ways to squeak out a profit.
Here are a couple things to be aware of and to avoid at all cost;
1) Credit card terminal leases
These are a great way for sales reps to make up for the decreases in processing fee commissions that they are experiencing. Typically lasting 3-4 years with an average cost of $70 per month, a business owner can spend over $4,000 on a $150-200 piece of equipment.
The Solution: Purchase a terminal outright. With all the businesses failing these days it is possible to buy a used terminal on eBay or craigslist for $50-100. If money is tight, your processing company might rent you a terminal for a couple months until you have the funds to buy it.
2) Cancellation Fees
Sales reps might be willing to settle for a lower processing markup if they can slap on a contract with an early termination fee. Most contracts are for 3 years with an early termination fee of $200-600. If your rep tries to convince you to sign a contract with an excessive cancellation fee, find another company.
3) Hidden Fees
These can be a very expensive hidden secret awaiting you on your first bill. Make sure you know exactly what you are being charged per transaction, batch, address verification, monthly statements, compliance fee, etc. Most importantly, understand the total cost you are paying for your service. Credit card processing companies are getting very creative with their statements. Hint: The amount listed on the top of your statement is probably not the total cost that has been deducted from your account. Look for a line item that says “less discount paid” or something to that effect and add it to the amount listed on page 1 to see how much you really paid.
In a time when belts across the country are being tightened, choose your merchant service provider with extreme care.
Posted in Guides Merchant Accounts by .
NYOP Merchant recently formed a strategic partnership with the Arizona Restaurant Association to offer the famous Name Your Own Price Merchant Accounts to all the ARA members. ARA specializes in assisting the needs of Arizona restaurant owners of all sizes. The 8,000 plus members of the ARA account for roughly 8% of the Arizona economy.
In efforts to best serve the members of the ARA, NYOP Merchant has dedicated a team of restaurant industry specialists to assist ARA members with their merchant accounts and to answer general credit card processing questions.
Click here for more information
Posted in Company News Merchant Accounts by .
There is a lot of buzz around the merchant service industry around the interchange-plus pricing model. As the level of understanding increases at the merchant level, so does the popularity of interchange-plus pricing. Once upon a time, merchants were forced to use a tiered or standard pricing model. Years and thousands of accounts later, merchants are catching on to the scams that have plagued the industry.
A common practice is to quote a lower rate for a merchant’s qualified transactions, usually in the neighborhood of 1.65%. The merchant is so excited by the low rate that he/she signs up for the new account without paying any attention to the mid and nonqualified rates which can be as high as 5%. The result is higher total processing fees due to a majority of the merchant’s transactions downgrading to the mid-qualified and non-qualified buckets. (Most merchants process 75% of their transactions as mid-qualified and non-qualified)
This tactic along with many others has made the topic of credit card processing a sore subject among merchants. In the attempts to gain clientele, some merchant account companies have decided to offer interchange-plus pricing to their merchants.
Interchange-plus pricing is a model that was once reserved for only the largest of merchants. In the simplest of terms, interchange-plus pricing takes the fees charged by Visa and MasterCard and adds a fixed percentage to compensate the merchant service provider. For example: a merchant setup on interchange-plus 30 basis points would pay 1.58% to the credit card provider (Visa or MasterCard) and .30% to the processor on a qualified transaction for a total of 1.88%.
The nice thing about this model is that the merchant always knows the markup regardless of the card type being swiped.
For example:
- a qualified card cost is interchange for qualified card plus 30 basis points
- a rewards card cost is interchange for a rewards card plus 30 basis points
- a commercial card cost is interchange for a commercial card plus 30 basis points etc…
Interchange-plus pricing is a step in the right direction for an industry that has been a victim of unscrupulous and deceitful practices for a very long time. Now if we can just get rid of all the equipment leasing scams………..
Posted in Merchant Accounts by .