PayNet Merchant Services - Visa and Mastercard Credit Card Merchant Services

Pricing

New Merchant
Existing Merchant
Canadian Merchant
American Express

Novus/Discover
Terminals
Software
Internet solutions

The best explanation for how this industry will determine a merchant's pricing is that we use the Walmart philosophy of buying. The more you "buy" the lower your rate. That being said, we must use certain parameters for determining the pricing structure for a business' merchant account. We need the merchant's expected annual credit card volume and the amount of an average sale. Below is an explanation for selecting the correct pricing (listed on the toolbar above) for your business:

New Merchant

This is a merchant who is either new to credit cards or a startup business. These accounts are difficult to price because a rate is established based upon an unknown annual sales number. Extensive marketing plans are helpful in determining sales volume but not conclusive. We have developed initial pricing to make it easier for new businesses.

Existing Merchant

This is a merchant who is already processing credit cards. In these cases, we evaluate the current processing statements, which will help determine the overall pricing but more importantly, how you process. We are experts at determining the real Visa/Mastercard processing charges. In many cases, processors add additional charges. We set up accounts to process with special features that will save money when processing each transaction.

Canadian Merchant

Since PayNet is an agent of Harris Bank, and Harris is owned by the Bank of Montreal, we are uniquely positioned to open U.S. merchant accounts for Canadian businesses. Following are the special terms under which Canadian businesses may apply for a U.S. merchant account:

The business must have a U.S. depository account. PayNet can facilitate the opening of such an account (business checking or savings) at Harris Bank, or you may open an account at the financial institution of your choice.
U.S. merchant accounts are available only for non-card-swipe transactions, typically mail-, phone- and Internet-order.
Cardholders will be billed in $US and merchants will be credited in $US.
The underwriting criteria for Canadian merchants is the same as for U.S. merchants.
Pricing is the same as for U.S. merchants.
All fees are quoted in $US. Application and setup fees are payable in U.S. currency or by Visa or Mastercard at time of application.