Switching from world pay. They are charging a fee to provide the information on the gift cards. Its around $1500. Playing with a couple different ideas, ie making new processor pay it etc.
Anyone had any luck avoiding this fee. In the end im just done with worldpay.
Same, ours is $1,080 to buy out of it, per location. Another option is to just keep the gift program and only change processors. I was quoted $50/month per location for gift cards. I’m just not sure it’ll convert over correctly to a different processor. I’ve been working on this for a few weeks now and still don’t have a ton of clarity. If the cards work on another platform (monetra via first data) then I’d rather just move them and say the hell with Worldpay. They’ve been extremely predatory in their rates and they won’t stop until they lose a ton of business
My computer guy developed his own gift card system. $20 a month and $1 a card. Its just kind of a promisary thing he does through my POS. I just recycle the cards also.
I should say, I’m also trying to get our new processor to pay it, they seem to be avoiding the question. But they are going to save us around 30k on fees a year, so even if they don’t, it’s worth paying
who are you switching to? Seems like an exodus away from worldpay lately.
As it should be. They’ve completely taken advantage of this situation. We are switching to PNC bank
Effective rate quoted at 2.58%
I’m looking at Heartland. I’m point of success which means a few extra fees since worldpay is their preferred provider. I wish they would change that since it doesn’t seem worldpay is too interested in being competitive for the small independent businesses.
Let us know how the switch over goes. My fees went from 20K to 28K per month with worldpay.
FYI PNC Bank owns majority of World Pay now
not sure there is a good Bankster now!
Do you have a source for that info? I can’t seem to find anything to support that
We also was trying to switch ourselves and the local PNC Bank came and give us their " Why we should change" then realized we had World Pay and told us then that PNC Bank had bought controlling interest in them. Had no reason to doubt they hadn’t, its been a few years now since we was told that!
They have a controlling interest in first data. Worldpay is owned by FIS and was acquired for $43 billion in 2019. PNC is big but I don’t think that’s in their acquisition budget.
just to share my experience. I switched from worldpay to heartland recently. My last worldpay bill was 3.8% effective rate. Heartland promised me 2.6 but so far my rate has actually been 3.2%. I spoke to heartland about it because they were so sure on there rate and long story short they said the speeddine cc info page needs to have more data ie ccv number and address because all my online orders are getting switched to higher rates without the extra security. about 40% of our sales come from speeddine. Let me know if any other speedline users find there rates dropping to 2.6 with close to the same online orders.
It’s frustrating bc Worldpay can absolutely still offer rates in the 2.5% range.
I know bc I have 3 Merchant ID’s
-One for online orders
-One for mobile swipers (deliveries pay at the door)
-One for my standalone reader (used for pickup orders)
I got rid of my standalone reader for a bit and ran all the pickup orders through my actual POS terminal, so the transaction was going through my Merchant ID I use for online orders. I thought I would save some $$ not having to pay all the BS fees they add to every Merchant ID….
I was wrong, not only did I pay I higher rate, it also slowed down the store, its way faster using a standalone terminal.
So I asked to get a new Merchant ID and have Worldpay reconfigure the VX520 terminal I still had. No problem at all… Ive had it for 3 months now and get a rate of 2.6%
My other 2 MID’s are around 3.2%
Luckily the MID thats at 2.6% is my biggest volume
Your pay at the door SHOULD coincide with the same rates as in store since they are both being swiped/chipped.
This whole situation with Worldpay is past ridiculous, glad you’re doing well the rates though. You’d just think they’d have some consistency and I think that’s where the issue lies. We all got taken up to around 3.8 - 4% like 2 months ago, for the most part. Knowing both of our volumes, we should be at about the same but youre WAY lower than me and I remember being the one to refer you to them! It’s just crazy
thanks for the update i was curious when the girl told me that but never followed thru to check was she told me
Yup U put me on way back, when it was Vantiv. I still have the number saved under Seth Vantiv.
U are right the processing rates should be the same for my Pay at the Door MID bc its the exact same contract, and Im getting physical card chips every transaction, it just furthers the truth that those contracts mean nothing and it’s another rep that overpromises and under delivers
Call me old school. I have used plastic. Now I just buy paper gift cert. books from Office Depot. They each have a 6 digit number. When I sell one, we enter the amount and the 6 digit number and let the POS track the sale with that number. It is easy and cheap. No one complains.
I do the same exact thing
do you allow any amount on the gift certificate?
Or do you have a maximum amount per certificate