Cardaccept.com has been involved in the credit card industry since 1993 though they have been helping merchants online for the last 7 years. The company promise to provide businesses with everything they need to accept credit cards and also claim that their services will help businesses increase their revenue fivefold. Essentially, Card Accept’s aim is to help merchants who have no idea how to safely accept credit cards. They provide you with a walkthrough guide to accepting credit cards and offer credit card processing rates as low as 1%.
This is where Card Accept really stands out from the crowd. They charge very few fees, especially when compared to the industry standard. For example, the average merchant account application fee is at least $95 but is free with Card Accept. There is also no set up fee (usually $49 elsewhere) and you get a free web shopping cart and free shipping and handling.
So what does Card Accept actually charge for? There is a customer service fee of $9 a month and an internet processing gateway fee of $6 a month though this includes a virtual terminal. Retail and phone order transaction fees are $0.25 per transaction with internet and retail discount rates set at an incredibly low 0.25% plus interchange pass through rates.
The products offered by Card Accept can be used by retail, internet, wireless and mail/phone companies. If you’re running a retail store, you’ll need a credit card terminal. These can retail at around $400 but Card Accept offers customers terminals for as little as $35. The terminal is easy to use and the company even offers free training. Companies operating online can avail of Card Accept’s brand new internet processing software which is free. You also receive a free shopping cart and search engine submission. Online transactions are declined or accepted within seconds with all approved transactions mailed to the merchant immediately. All funds will be deposited into your bank account within 2-3 working days.
If you’re doing business via mail or by phone, you can use Card Accept’s free Virtual Terminal which can be accessed 24 hours a day. This terminal works in the same manner as online transactions with speedy acceptance or denial of transactions. Those looking to conduct business wirelessly can process their transactions with an iPhone, Blackberry, Android phone or any other type of cell phone. You can accept credit cards on your phone which allows you to conduct business anywhere at any time. All services carry a 24/7/365 customer service guarantee.
One major problem with Card Accept is its recent reputation. It managed to go from having a B rating with the Better Business Bureau (BBB) to an F Rating in the space of three years. It has received several serious complaints which have not been resolved. This is something that the company really needs to work on.
On the surface, it seems as if Card Accept offers all the credit card processing assistance a company needs and its fees are amongst the lowest in the industry. However, their BBB rating casts a fairly dark cloud over the company, one that can only be removed with better handling of complaints.