The percentage that you are charged is called the "discount rate". Currently, the rates are 2.5% for mail order sales and 1.9% for retail businesses.
APPLICATION FEE
There is a one-time $149.00 application fee, and your monthly statement fee is $15.00.
HOW IT WORKS
There are three ways to process credit cards. 1) Through a terminal, 2) with software, or 3) via an on-line gateway. The credit card box, or terminal, is the old fashioned way of doing it, and this is being phased out by the industry. An on-line gateway is the preferred method for high-volume mail order busineses or if you don't want to be bothered by doing manual processing. We use Authorize.net for online processing.
There is a one-time $175.00 setup fee for the online gateway, and the monthly fee is
$39.00.
The software method is less expensive, but it is good if you also need to process locally or need the recurring billing feature.
The cost for the latest version of ICVerify software is $375.00. Click the green
"software" button above for more information.
OTHER FEES
This is the best part. THERE ARE NO OTHER FEES! No monthly minimum, no extra fees for hand keyed transactions, etc. This is what sets us apart from other processors, and must be considered if you're comparing us to other services.
