1. Do I really need to accept credit cards as a form of payment, and if so, why?
    No.  If your customers are happy paying you the old fashioned way, stick with that.


  2. Can you explain to me how pricing works? Pricing is pretty simple. 
    I show you true cost and together we negotiate my mark-up.  I'll provide you with a full-disclosure pricing sheet that breaks out all anticipated rates and fees before you sign anything.


  3. What are Qualified, Mid-Qualified, and Non-Qualified rates, and how do they affect me?
    Q, MQ, & NQ, rates are determined by card type and the manner in which a card is processed.  For example, if you swipe a card, it may be a qualified transaction.  If you use that same card but have to key it in manually, that transaction will then be at least a mid-qualified transaction.  All rewards cards transactions go through as non-qualified.  Qualified transactions are less-expensive and non-qualified comes at a higher rate for the merchant.


  4. Why do you need to know the amount of my average and high sales?
    We ask about your average and high sales levels so that we can have a better idea of what normal is at your place of business.  This data is actually very helpful to our Loss Prevention department.


  5. Should I lease or purchase equipment?
    Typically, you should never consider leasing credit card processing equipment.  Why enter into a 3-year agreement to lease a piece of equipment that probably retails for around $250.  If a merchant services sales person starts talking lease, show them the door.


  6. How long does it take my funds to be deposited into my account after I batch out my transactions?
    Your funds will automatically be deposited into your bank account within the standard 48-hours.  However, if you wish for 24-hours turnaround, ask me how.


  7. What can you tell me about PCI compliance (the payment card industry’s data security initiative)?
    We are required to ensure that each of our merchants is Payment Card Industry (PCI) Data Security Standards compliant and certified.  The way in which we accomplish that is through our PCI Smart program.  Once per year we will remind you that it is time to get re-certified.



Chuck Mooney

First American Payment Systems

Ft Worth, TX 76102


817-271-2281 (cell)
866-320-1517 (fax)

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First American Payment Systems  |  Ft Worth, TX 76102  |   817-271-2281   |