Credit Card processing at Gravity Payments.

Merchant Services

Merchant Services For Small Business Credit Card Processing

What are Merchant Services?

Gravity Payments merchant services encompass all that we offer as a credit card processing company. From payment processing, eCommerce, POS (point-of-sale) systems, and website integration to our personal customer support and representatives.

Often interchanged with the term credit card processing, merchant services is a type of financial service that allows businesses of all sizes to accept payment for goods or services via credit, debit, contactless (Apple Pay or Samsung Pay), and EMV chip cards. This is usually done through a physical or virtual terminals, point of sale system, website shopping carts, and more.

Find the merchant services solution you need for the industry your business is in:

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Need merchant services for your business? Just fill out this form or call 866-701-4700.

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More Information on Merchant Services

How do I set up a merchant services account with Gravity Payments?

Let us know a bit about your business so we can get in touch and help you out. Click here to get started with merchant services.

Does Gravity Payments have testimonials for Merchant Services?

We sure do! Click here to view our series on actual customers’ experiences with merchant services through Gravity Payments.

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What sets Gravity Payments’ merchant services apart?

Our Customer Service

We have a 10-year goal to be one of the most trusted names in business in 25 communities. So, we strive to have not only the best customer service in our industry, but in the world of business. We don’t have phone trees or automated services. Instead, we have people you can speak with at any time of the day. As much as possible, we try to get to know each of our clients on a first name basis. If a support representative has worked with you on your account in the past, chances are when they see your name pop up on caller ID, they will be the ones to personally answer your call. It’s little touches like that, that help us stand out from others in our industry. Our team is available 24 hours a day and will do anything we need to do to ensure your business runs as efficiently as possible.

Our Process

Every business is different. Looking simply at the dollar amount you run in credit card sales each month is the tip of the iceberg. If you set up a account with just that information, you will more than likely not receive the level of service you require. For instance, a Persian rug business running five $2000 transactions a month is vastly different than a pizza restaurant running 2000 $5 transactions a month. Both businesses run $10,000 in total transactions, but the wholesale costs from the card brands (Visa, Mastercard, American Express, and Discover) are vastly different.

On top of that, the type of equipment and features for each business is vastly different. The Persian rug store might need to run transactions online or over the phone while the pizza restaurant might want a full POS (point-of-sale) system or gift and loyalty card capabilities.

To sum it all up, it’s attention to detail. We strive to be a partner with your business by finding the solution that make the most sense for you.

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FAQ’s and Common Questions about Merchant Services

What are all the products and services Gravity Payments offers?

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How much will it cost to accept credit card payments through Merchant Services with Gravity?

We don’t take a one-size-fits-all approach, because you probably run your business differently than the restaurant down the street. So, it wouldn’t be fair for us (or to your business) to price you both at the same rate. If we gave every one of our clients an across-the-board, straight flat rate, more often than not, you wouldn’t be getting the best deal possible. It’d be an unfair pricing structure.

Instead, we like to price every client out on an individual basis because it allows us to give you the most transparent and best pricing. To do this, we gather a full snapshot by analyzing your business from bottom up. We take many different parameters into account when determining what the best merchant services rate is for business:

  • Dollar amount of transactions
  • Monthly volume
  • Payment acceptance methods
  • Wholesale costs
  • And much more!

More importantly for us, we try to take your “other-than-cost” needs into account over your transaction needs. We think there are other companies out there that can always offer you a better deal, but we often find that what you really need from your processor are things like:

  • Equipment needs
  • How you want your customers to interact with your payment system
  • Functionality (inventory and/or employee management)
  • Customer service

So you see, while some business might fit into a flat rate structure, others might be disadvantaged by it. For example, if you run a B2B company that processes large ticket orders, you might be overpaying a significant amount on your wholesale costs if you were priced at a flat rate by your credit card processor.

We strive to partner with you so we can create the best pricing structure that fits the needs of your business.

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When are sales deposited into my bank account?

Like our processing rates for merchant services, our deposit timelines can be customized for your unique business needs. However, deposits typically end up in your bank account the next business day – roughly 24 to 48 hours.

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What is interchange?

Interchange means the amount of money that banks and card brands (Visa, MasterCard, American Express, Discover) charge. Interchange is the portion of the processing cost that no credit card processor has control over. These rates are the same no matter where your account exists.

For more information on interchange, click here.

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What factors into interchange fees?

Card Brand Fees

Often on merchant services statements, you will see a slew of mysterious and cryptic fees. These are known as Card Brand Fees or Card Association Fees. These are the fees that are paid back to Visa, MasterCard, Discover, or American Express. Depending on your processing statement, they can appear as different things, but are often labeled NABU fees (Network Access and Brand Usage Fees).

Interchange fees are split up between some of the money going to the card-issuing bank – like Chase or Bank of America – while the rest of the fees go to the card brand. Like all interchange fees, the card brand fees are not charged by Gravity Payments or any credit card processing company, but by the banks and card brands themselves. The credit card processor only collects the fees and passes them through to the card brand and bank.

For more detailed information on card brand fees, click here.

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Card Type

Each credit card type will be associated with a different wholesale or interchange fee. Debit cards have a lower percentage cost, but will incur a flat fee (typically less than a dollar) for using the pin function. Rewards, cash back, air travel cards, business cards, or government cards will also have different percentages charged by the card brands and banks for credit card processing. The credit card processor can affect the base rate of these fees.

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Industry

Based on a list of criteria, different business types and sizes will incur different interchange fees from card brands and banks. Some businesses are higher risk and so the ability to run credit card transactions is going to be more costly to them. Businesses that work in the B2B space might be able to gain more information from their customers to lower their wholesale processing cost, but the card brands themselves define industry risk. This is called Level 2 and Level 3 processing.

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Transaction Type

There are two transaction types: card present and card not present.

Depending on how you accept a sale, your interchange fee will affect your account. For instance, swiping, inserting a chip card, or using NFC contactless payments like Apple Pay or Samsung Pay, will often result in a lower interchange cost. If you key-enter a payment over the phone or a payment is initiated online through a virtual terminal or eCommerce shopping cart, the interchange rate will be higher. This is due to risk. Having a card physically present to initiate the transaction is significantly more secure than someone entering in credit card information online.

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What is the difference between a terminal and a POS (point-of-sale) system

A terminal is a stand-alone device that communicates securely with Gravity Payments, enabling you to process credit card transactions through your account. POS systems often have a terminal built in, but offer additional features such as menus, sales reporting and analytics, customer management, employee management, and inventory management.

For more information on terminals and POS systems, click here.

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What is the difference between a virtual terminal and a payment gateway?

A payment gateway links a system (like a POS or shopping cart) used by a business for the purposes of accepting payments to a credit card processor.

A virtual terminal is a way for business owners to process transactions on their own via the internet. In addition, virtual terminals provide business owners the ability to refund and void transactions, as well as, manage reports, analytics, and customer databases. A payment gateway can have a virtual terminal built into it and vice versa.

For more information, click here.

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What is PCI compliance?

PCI compliance is a voluntary measure you can take to ensure that your account and your customers’ information is protected from attack by hackers or other malicious individuals. Gravity Payments does not penalize or charge clients for not being PCI compliant, but can assist you in becoming compliant to ensure you are covering all your bases and not opening yourself up to threats.

For more information, click here.

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What is EMV?

Europay, MasterCard, Visa, or in other words, EMV, is currently the most secure way to run transactions from a plastic credit card or debit card. EMV uses a computer chip on your card to authenticate the transaction. With traditional magnetic stripe debit/credit cards, every time you swipe your card the same number is used to access and move money. With an EMV chip card, every time you purchase something, a secret one-time-only transaction code is created, enabling the EMV chip card and the EMV card reader to speak to each other.

For more information, click here.

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