Wireless Merchant Accounts run on Point-of-Sale units like the one shown on the side here. They connect to cell phone networks, making them able to accept transactions just about anywhere in Canada.
This solution allows a merchant to be mobile to process a transaction. while still qualifying for “card present” transactions, which makes their discount rates drop down to traditional retail Point-of-Sale rates. This solution gives instantaneous approval on all transactions and allows the merchant to offer Debit/Interac too.
Wireless Merchant Account Rates
This type of hardware typically costs about $60-$100/month to rent or lease and about $1500-$2000 to own. Merchants need to not forget that there is also an additional fee for the “Data Cellular Air Time” services used. Sometimes the cellular network will bill the merchant and other times the merchant account company will just bill the merchant directly. The Data Fees can range from $20-$50/month depending on the plan and how data is used. If you take your terminal outsite of Canada, watch out for additional roaming fees that can easily sneak up on you. Many a merchant has been surprised this way with $100′s of extra dollars in unexpected fees on the Data connection.
Credit Card Discount rates on Wireless Credit Card Machines can vary from company to company. However, most Canadian wireless rates are almost exactly the same as traditional retail credit card rates: 1.59% – 2.50% (plus 8–20 cents per transaction) on Qualified transactions-any higher then that and you will want to get a rate review. What determines your rate is:
- Average Ticket Price per customer
- Monthly Sales Volume purchased on credit cards
The lower your average ticket price and the higher the monthly business volume the lower the rate you will qualify for.
We have been helping small businesses connect to service providers who:
- Guarantee financing regardless of personal credit score
- Lease from as low as $49-$69/month (Depends on hardware, deposits, credit score, etc.)
- Provide ownership from as low as $1499 (including lifetime warranties)
- Provide debit transaction fees from as low as 8 cents
- Provide Visa & MasterCard rates from as low as 1.69%
- Provide lifetime warranty included on all hardware
- Can deposit into any Canadian business bank account
- Provide quality Customer Support 365 days of the year
- Provide within 24 hours a replacement unit if your current unit stops working (For most major urban centres; if you live in a remote area add an extra day.)
- Provide free software upgrades
- Ensure ALL terminals are PCI & EMV compliant (Very important- no point investing in a terminal that is already going to be obsolete.)
