Credit Card Processing
Explain Tiered Pricing
Interchange is categorized into several 'buckets' of pricing, Qualified, Mid-Qualified, Non-Qualified and consolidates all Interchange categories into these 3 simplified rates. The oldest and most expensive form of pricing.
What is Celero's Automotive Software?
Workshop
What is Celero's base pricing for merchants below $10,000 monthly volume and above $10,000 monthly volume
40bps + $0.15
30bps + $0.10
Not Interested
I completely understand why you’re saying no as you get so many calls regarding this topic; right? (Stop / Listen)
Everyone who contacts you tells you that you're paying too much or that they’re going to save you money; right? (Stop / Listen)
And they also tell you that you're using the wrong equipment, right? (Stop / Listen)
The last thing I would ever do is insult your intelligence over the phone telling you things that I simply don’t know, because honestly nobody who calls you has this information. What I do offer is an honest approach to your current processing direction. That is all. I work for 1 of the very few processors in the country who will fully disclose what the true costs are before any processor gets involved. From there we will compare your current fees to these costs, and we will accomplish 1 of 2 things: You will see you are currently in the best program available, and no change is needed, or we will save your business money. Either way you win, fair enough?? (Stop / Listen)
What is the requirement to get to AM-2?
Hit Quota (8 sold in a month)
What are the 4 ways to accept payments?
In-store, Mobile, Online, MOTO
What terminal connects to Celero Connect Gateway (NMI)?
Lane 3000
If a merchant processing $87,247.93 is currently priced at 72bps and Celero offers 30bps, how much is the merchant saving per month?
$366.44
In a Contract
I understand, and here’s the deal with contracts- they are used as a SCARE TACTIC to have merchants feel that they have to stay with a company for a certain amount of time. They are HOPING that the business owner is just TOO busy or NOT smart enough to figure out that it is actually CHEAPER to leave them than to stay with them. I helped a business owner last week who WAITED 10 MONTHS to look at his processing because his current processor told him he would be charged $250 to cancel. I SAVED HIM OVER $200 A MONTH! So it cost him $2000 over the 10 months in charges to his current processor because they scared him with the word CONTRACT. For the sake of your business, put the SCARE TACTIC of the contract aside and let’s see if I can help you. If I can, GREAT- if I can’t we’ll part as friends. FAIR ENOUGH?
What are 2 ways to increase your Residual split?
Hit Residual Accelerator (11 sold (30%), 16 sold (35%), 21 sold (40%)) and receive a 1% increase for every 50 active installs
What is PCI Compliance
A set of security standards introduced to every business accepting electronic payments to ensure the safety and security of every transaction taken
What terminals can be connected to Pi Gateway? (5 answers)
Z6, Z8, Z11, Z9, QD4
A merchant runs 2,723 transactions in a month, currently priced at $0.12/transaction. If Celero offers $0.08 per transaction, how much is the merchant saving just on transaction fees?
$108.92
With my Bank
I hear that a lot. The truth is it is actually the opposite. Banks DON’T process credit cards. They hire an outside processor to do it as it’s a conflict of interest. Whenever you process through your bank you ARE 3RD PARTY PROCESSING and two companies are now TAKING your money. When a business owner tells me they are with their bank, I generally know they are overpriced. We process for banks and I won’t EVER take those leads any longer, as I have to price higher because the bank gave the lead and they WANT money from your business also. BANKS DON’T DO ANYTHING FOR FREE!! That’s why they have ALL OF YOUR MONEY and loan us money. I REFUSE to lie to a business owner and tell them they are getting the best deal through their bank when the TRUTH is they are NOT. A merchant should ALWAYS go direct.
What are the start-up costs you're able to charge a merchant that dictates your commission, and what are the $ amounts?
New Merchant Account Base Commission - $250.00
Application Fee - $150.00
Integration Fee - $75.00
Installation Fee - $75.00
Merchant Club - $100.00
Equipment - Anything over the cost
What is the difference between Surcharging and Dual Pricing?
Dual Pricing provides a discount for paying with cash, Surcharging adds a fee on for using a card. Dual pricing applies to both Credit and Debit, Surcharging applies to only Credit
What are the 3 true Mobile solutions that Celero offers?
Clover Go, iProcess, Swipe Simple
Merchant is currently priced at 100bps and $0.20/transaction with a monthly volume of $23,119.48 and 112 transactions. If Celero's pricing is 30bps and $0.10/transaction, how much are does the merchant save?
$173.04
I have a relative that processes for me
Your relative got you set up but isn't the one processing for you. Not all processors are created equal, and while I'm sure they did the best they could with what they were allowed to, if a better offer came up, I'm sure they'd want you to take that because they value your relationship beyond just business, correct? So here's what I propose- allow me to take a look and see if there's anything better out there for you. I'm sure you'd then take the quote back to your relative. At which point, 1 of 2 things would happen: they'd suggest you take the offer after they've vetted it, or at that point say they can match it, which would breed the conversation then of "why did you do this for me in the first place?"
What pre-qual information is needed to determine a merchant's potential Effective Rate with Celero?
Average Ticket
Monthly Volume
Keyed vs. Swiped
Debit vs. Credit
What is the main factor that determines any particular Interchange rate?
Risk Grade of the particular card
What are the functions of a Payment Gateway?
Provides a payment bridge to integrate with websites/softwares/POS' and can act as a way to collect payment via keyed, invoiced, and recurring transactions
What are the Dual Pricing Rates that Celero offers?
3%, 3.25%, 3.5%, 3.75%, 4%
I work with XYZ software and will only speak with you if you can integrate
We're putting the cart way in front of the horse. I'm here to discuss your current merchant processing direction. When a software has a proprietary relationsihp with just 1 processor, it breeds a monopolized space where the processor has free reign to charge what they wish. If this is the case, I generally see a 40-60% reduction in fees. So if I'm able to show you that I can cut your bill in half or even more but can't integrate, you'd at least hear out what solution I have for your business to see if it's as good of a fit as your current software, correct?
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