1. How to get a merchant account and
what to look for!
Presented by:
Marc Tenore Fahid Anwar

2. WHO WE ARE
 Choice Merchant Solutions is a diverse team of industry
professionals, with decades of experience in merchant services.
 Our customers are our most important asset. Our main goal is to
provide our customers with the proper support, knowledge, and
infrastructure to bring their business to new heights.

3. WHAT IS A MERCHANT ACCOUNT?
 A merchant account is a special type
of bank account that allows business
owners to accept credit and debit
cards as a form of payment.

4. WHAT ARE THE BENEFITS OF A MERCHANT
ACCOUNT?
 Regardless of what you might have heard, you can utilize a
merchant account to expand how your business accepts payments,
and increase revenue.
 Based on projections by the Small Business Administration, credit
cards are fast becoming the most popular form of customer
payment.

5. ACCEPT ALL MAJOR CARDS
 Visa
 MasterCard
 Discover
 American Express
 By accepting all major cards,
you will never have to turn
down a sale

6. WHY SHOULD I HAVE A MERCHANT
ACCOUNT?
 Have the ability to collect more than one form of
payment
 Never have to turn down a customer

7. CREDIT CARDS ARE EVERYWHERE!

8. SHOULD I HAVE MORE THAN ONE
MERCHANT ACCOUNT?
 Some high volume merchants believe that multiple merchant
accounts provide a discount in services – but having double the
accounts creates double the fees
 Another reason for multiple accounts is to have a higher combined
monthly cap
 Placing merchants under proper SIC codes allows us to raise
monthly volume caps as business increases
 One merchant account consolidates your fees as well as your
business – we like to keep it simple

9. DEPOSITS AND REPORTING
 Deposits within 24-48 hours – no more
waiting for checks to clear
 Consolidated weekly, monthly, and yearly
reports
 Volume and transaction profiles

10. RATES AND FEES
 The credit repair industry is classified as high risk
 CR pros are paid after services are rendered
 High Risk = High Rates
 Expect to start at 2.5%
 Fees are negotiable

11. PAYMENT GATEWAYS
 Virtual terminals and payment gateways offer multiple options for
card not present and transactions over the phone.
 Multiple users – give agents individual access
 Payment gateways allow merchants to utilize recurring billing

12. RECURRING BILLING
 Credit repair may take weeks or months,
but card information only needs to be
captured once
 Billing cycles tailored to fit your business
model: weekly, monthly, and annually

13. VALUE – ADDED SERVICES
 E-commerce integration with your website
 Tabletop terminals
 Wireless terminals
 Chargeback prevention software

14. MOBILE TERMINALS
 Perfect for agents on the go
 Requires a merchant account – and provides
all the benefits of having one

15. MERCHANT CASH ADVANCES
 A merchant cash advance is a purchase of
future credit card receivables, repaid through
normal credit card transactions
 Merchants are eligible for a very high portion
of their monthly credit card volume – up to
$1,000,000
 Ideal funding solution when merchants are
unable to secure traditional loans or funding

16. PCI COMPLIANCE
 PCI Compliance is required by Visa and MasterCard, and certifies
that you are playing your role in protecting consumer’s credit
card information during every transaction
 There is a monthly fee for noncompliance
 Ask your merchant account provider for assistance if you are
unable to become compliant

17. PROTECTION AND SECURITY
 Advanced chargeback monitoring - limit the
number of chargebacks incurred
 Latest fraud scrubbing technology - reduces
merchant risk by flagging fraudulent cards
 Ask for guaranteed rates

18. FRAUD PREVENTION
 Ask what type of fraud scrubbing technology the merchant
services provider offers
 Chip-and-pin/EMV Ready hardware
 Your customers are doing business with you to get their credit
fixed; having their info stolen does the opposite

19. WHEN AND HOW TO
RENEGOTIATE RATES
 Make sure to get guaranteed rates
 After a set period of 90 days, and with a low risk profile
and chargeback history, merchants qualify for a free
rate review

20. REASONS FOR CREDIT REPAIR
ACCOUNT TERMINATION
 High percentage of chargebacks
(chargebacks are disputed transactions)
 Incorrect business information
 Misuse of processing account
 Violation of the Visa/MasterCard merchant
agreement
 Misrepresentation of industry/SIC code

21. HOW TO MAINTAIN YOUR ACCOUNT
 Your merchant services provider should monitor
your account for fraudulent transactions
 Chargeback prevention technology to limit the
number of chargebacks
 Refunds are better than chargebacks
 The more information you get, the better

22. APPROVAL PROCESS
Submission Requirements
 Merchant Agreement
 3 months bank statements
 Voided business check
 Drivers’ license

23. BENEFITS FOR SUMMIT ATTENDEES
 Free account setup
 Waived application fee
 Free website integration
 72 hour approvals
 Sorry, no stressballs

24. Choice Merchant Solutions specializes in working with credit repair
agencies of all sizes by providing the proper tools to grow your
business. Our 24/7 live customer service is dedicated to providing
continuity and security for your business.
Don’t settle for less, make the right Choice and call today!
800-507-1294
or
scorewithchoice.com