Vantiv/WorldPay, check your statements

Discussion in 'The Think Tank' started by Steve, Dec 10, 2018.

  1. December

    December Active Member

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    Came in at 2.27% today.

    Side note: a guy came in offering that program where the customers pay the fee.
    He said others are doing it in the area, I called one of the stores he mentioned. Its true they are using the program. I still dont feel comfortable with doing that yet
     
    Mondo likes this.
  2. Steve

    Steve Active Member

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    Completely different business but I'm about to have a new fence installed. 3% fee for using a credit card. Not sure why it can be a standard practice for contractors but for our industry makes us look greedy

    Sent from my Pixel 2 using Tapatalk
     
  3. Steve P.

    Steve P. New Member

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    Be careful with those “customers pay” options. There are very specific requirements for how it has to appear on both customer receipts and credit cards receipts.
     
  4. HPSC

    HPSC New Member

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    Hi December

    Do you remember the name of his company/program?

    Thanks!
     
  5. bodegahwy

    bodegahwy Well-Known Member

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    Depending on the state it is illegal for the contractors too. Not to say they don't do it but anyone required to pay it could challenge it and get the money back and probably have the contractor loose their processing agreement.
     
  6. sparrowspizza

    sparrowspizza Active Member

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    5% this month.

    Anyone use POS/Pay
     
  7. Tom Engle

    Tom Engle New Member

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    That's just unacceptable for a restaurant. Can you post your statement redacting any confidential information?
     
  8. famousperry

    famousperry Active Member

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    But why? Thats just unacceptable...are they giving you a POS and financing it by charging you double on your CC processing?
     
  9. sparrowspizza

    sparrowspizza Active Member

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    I have been lazy about calling them. At night I will call to adjust tips from closed ecomm orders. They are just a pain in the ass and speak different languages.
    I have my own computers and use "Point of Success" and "Big Holler".

    I just got off the phone with them, After a 45 minute hold time and 3 transfers. She told me my deal is .01 or .001 (can't remember) plus 10 cents.
    The woman told me I am not PCI compliant, and to talk to "Trustwave" about fixing that, That will fix a $29.95 charge every month. She also said she will look into each "Surcharge" individually, and email me her analysis.

    Also she said, send her any price comparison. They will look it over, and if it is cheaper they will match the price.

    I guess have just been paying "Tax on the Lazy" for 2 and half years.
     
  10. Gary Tallman

    Gary Tallman New Member

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    WorldPay is one of our preferred credit card partners. We help our users by examining credit card statements and making recommendations. There is no charge for this service.
     
  11. George Lithoxopoulos

    George Lithoxopoulos New Member

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    I used world pay for about a year now until recently when my bill jumped up to 500 from 330 so I called another company who is now charging me 188 a month. the new company name is igniteboston.com check them out for free no hassle estimate ask for Katerina and tell her George sent you!
     
  12. Steve.L

    Steve.L Active Member

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    Here is some information for WorldPay/Vantiv:

    Price increase, effective Jan. 1st, 2020.
    All merchants that process under 1m.
    The rates will increase 30 basis points (0.3%) for mid-qualified transactions and 60 basis points (0.6%) for non-qualified transactions.
    A monthly minimum bill of $35 will be applied to all merchants as well.

    Talk to your sales reps!


    Sent from my iPhone using Tapatalk
    www.poweruppos.com
     
  13. Tom Engle

    Tom Engle New Member

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    You did well for yourself, Ignite used to be the FDC direct salesforce. I believe they were folded into CardConnect. If this is the case, ask your Rep about the IC optimization program, it will reduce your cost especially if you take business cards. That said, watch your rates like a hawk. and specifically, always know your effective rate.
     
  14. JTMiller09

    JTMiller09 Member

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    I use Point of Success and switches to ChowNow about 3 months ago. Store sales are up +20% year over year ago, menu updates are so easy, they built me an app for $99 and total fees, including credit card processing... Which they handle.... 4.4% of sales.
     
  15. sparrowspizza

    sparrowspizza Active Member

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    you use point of success with chow now?
     
  16. JTMiller09

    JTMiller09 Member

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    Yes, just key it in...pretty simple...and we dictate every orders promise time.
     
  17. sparrowspizza

    sparrowspizza Active Member

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    Why not just use Bigholler. $80 bucks a month and it integrated with Point of Sucess.