| WHAT YOU GET... | Buying from Wholesale Clubs | Buying from NoblePay |
|---|---|---|
| A Free Credit Card Reader | Maybe but not likely. Wholesale clubs like Costco for example, have formed a third part relationship with a credit card processor called Elevon so they're not in control of how equipment is distributed or priced. | Yes, you'll get a FREE encrypted card reader & merchant account that will secure your clients sensitive data giving them a safe & secure payment experience. We also offer phone order and online processing systems at rates that will be lower than the wholesale club. |
| Lowest Price? | One of the most common myths when it comes to establishing a merchant account is that a wholesale club can give you a better deal than other credit card processing service providers. Its only natural to assume that a wholesale club will give a great deal on a merchant account. After all, they are a discounter so it certainly makes sense to speak to them as they offer other business related services. The truth is, that in most cases the wholesale club will not be the most economical solution. In fact, it can be one of the more costly programs available to small business owners. Wholesale clubs are just marketing companies and allow their processing partner to sell merchant services for them while they enjoy a cut of your monthly processing revenue. Due to this split and that they need to be perceived as a “cost cutter”, there really isn’t a lot of margin left so once you’re referred to Elevon, the only goal is to close the sale at whatever means necessary. | We have a small monthly service charge between $12.95 to $20 per month and the lowest possible rates starting 1.33% for the life of your account. The same holds true for all of our systems - low monthly service charge and low rates. When you buy from a processor like NoblePay you’ll have a direct relationship with a registered merchant service provider eliminating the middleman. Wholesale clubs advertise low teaser rates that look fantastic on the surface but in reality the likelihood of you running cards at this rate advertised is less than 10% of the time. What they’re doing is charging more for common transactions such as rewards cards and even more for cards that are considered non qualified. So the low rate you thought you were getting rarely will happen costing you much more because than the perceived low rate you thought you were getting! |
| Better Support? | Another common myth as that you’ll have better customer service and support with a wholsale club. Again, its easy to assume that you’ll get superior customer service from your local wholesale club because its easy to go to the store and speak to sombody – right? In a reseller model, the local wholesale club is not responsible for handling customer service issues. Instead, customer service issues are the responsibility of the originating provider that is reselling merchant processing services to the wholesale club. | You'll have a seasoned account executive that is easy to reach and ready to consult you if you have questions or concerns. |
| Unbiased, Strategic advice and consulting | Self serving. Another myth is that your bank will provide Unbiased Strategic Consulting Unfortunately this is far from the truth as wholesale clubs are frankly self serving and motivated to push products that meet their own needs and not necessarily yours. For example, because the processing partner needs to give the wholesale club a cut of the processing revenue, they need to find ways to make money in other areas. The local sales representitive of the processor your bank has partnered with makes their money by selling over priced equipment. Often the representative will try to push long term leases or have high markups to purchase the hardware necessary to process credit cards. Others offer free terminal placement programs that are loaded with penalty's including wear & tear clauses. | We will ask you questions and consult you to find the best system that fits your needs and budget. No self serving agendas here! |
| Contact Term? | Most merchant agreements that originate from a wholesale clubs processing partner have miscellanous fees such as monthly minimums, and hold long term commitments of up to 48 months which you should avoid at all costs! | No Contracts Here! All we ask is the courtesy of 30 days notice if you ever do wish to close your account! Heck, if we can't make you happy in the first 60 days you're with us, we'll close the account immediately -no questions asked, no need to wait 30 days. |
More About How NoblePay Compares to Wholesale Clubs On Our Blog…
