F A Q – Wholesale Payment Partners
Q; With your flat cost pricing, is there a monthly statement fee, or any other fees?
A; No, there are no other fees added to your cost from Wholesale Payment Partners. Merchants are responsible to maintain annual PCI compliance, however. This can be obtained by an independent third party, or via our recommended vendor for $89 per year.
Q; If I decide to cancel at any time after signing up, is there a cancellation fee?
A; If you decide to close your account, there are no additional cost to you of any kind. You may cancel at any time by contacting us and completing a closure form.
Q; Do you offer credit card processing services near me?
A; Wholesale Payment Partners can offer credit card processing services to all 50 U.S. States. We also offer credit card processing services to Canada.
Q; Do you supply credit card terminals for free?
A; No, there are a wide array of credit card terminals and POS Systems. To give them away for free would require us to require a lengthy contract or terminal agreement like others do. It’s always in the merchant’s best interest to buy the terminal outright, at a reasonable price. WPP offers low and fair terminal pricing.
Q; Can I use my existing credit card terminal?
A; Unfortunately, since the introduction of EMV chip card readers, all processors have their own encryption if you want to guarantee that all cards will be accessible to your terminal hardware. For this reason, you will need new equipment (except in the case of a POS system). Stand-alone terminals and pinpad devices must be replaced for each processor. Depending on your needs, most devices are between $150 – $200.
Q; How long does it take to get set up, and are there any setup fees?
A; In most cases, merchants are usually set up within 24 hours, unless the processor requires additional information. There are no setup fees of any kind with us.
Q; What if I am in a contract with my current processor?
A; Because Wholesale Payment Partners offers fees that are significantly less than other processors, the monthly cost savings that you will experience will generally pay off the cancellation fee within a few months. We recommend that you contact us for a free apples-to-apples comparison. There is no obligation; we will simply show you how much lower your fees will be with us. Then you can decide if the savings is justified to pay the contract cancellation fee, which is usually about $295 with most other processors.
Q; When will I receive my funds? Is there next day funding?
A; Yes. If you batch, or close your day’s processing by 6 P.M. Central on your credit card terminal, your funds are in your bank the next day. After 6 P.M., it will be the day following. POS Systems usually require an alternative solution, and funding is usually 2 days.
Q; Is PCI Compliance included in the flat cost pricing?
A; PCI Compliance is the responsibility of the Merchant. The Merchant can use any PCI Compliance program or company they prefer. The processors usually have the lowest cost, but you do not have to use them for your PCI Compliance. Should you use your own, you will need to supply the Attestation of Compliance to us, and verify we have received it.
Q; Do I need a PCI scan?
A; If your business accepts credit cards via the Internet, the PCI security council requires that your internal network complete quarterly scans. The scan is searching for network vulnerabilities that may leave your business and/or credit card payments system vulnerable to potential hackers and credit card number theft.
Q; I sell products in a brick and mortar store and online. Does this require separate accounts to accept cards for both?
A; No. With one Merchant Account, you can process in-store, online, and/or mobile all on the same merchant account.
Q; Do you have annual rate increases?
A; No. We will never increase your rates…guaranteed. However, should your sales volume increase to the next level in our flat rate pricing, you are eligible to be moved to the new pricing package that reflects your new monthly sales volume.
Contact Us for Any Additional Information
Call Us Here: 844-872-SAVE (7283)