Posted by: Diane Capuano
How confident is PDRA’s new credit card partner, National Processing Solutions Inc., that merchants will save money using the company’s credit card processing program? Erik Verryden, president and co-founder of NPS, makes this offer to PDRA members: “Sign up for the program. Present us with up to three months of your processing records with your previous vendor. If we don’t save you money, we will give you a $100 Visa Gift Card.”
National Processing Solutions is a full-service company based in Phoenix, Ariz., that provides innovative electronic payment solutions to businesses of all sizes. Clients typically enjoy a 30- to 70-percent savings off their credit card processing rates, but PDRA members will save even more as part of a Referral Partner Group.
“PDRA members will save from 50 to 80 percent because of additional discount pricing that we provide for specialized group membership,” Verryden said. He further explained that there are two pricing tiers to the NPS program.
Tier #1: For credit card charges of less than $20,000 per month (per store location), the fee is 25 basis points plus interchange costs.
Tier #2: For credit card charges of $20,000 or more per month (per store location) achieved across three months, there is a low fixed monthly fee of $50 plus interchange costs.
(Please note that American Express is not included in the $20,000 threshold and different rates apply.)
In addition to lower monthly processing fees, PDRA members will enjoy the following benefits:
• Zero startup, annual and PCI fees
• Next-day funding for all major credit cards (depending on the bank)
• Discounted equipment for any size business
• 24/7/365 technical support from five North American call centers, including a location in Canada.
While NPS’ equipment is discounted, retailers have the option of using their own equipment, which in the overwhelming number of cases is compatible with the NPS processing solution. “We can reprogram more than 90 percent of the equipment out there,” Verryden said. “If you use your own terminal, you can still use NPS’s pin pad for debit card transactions. Eighty or 85 percent of time, your terminal will be compatible with our pin pad.”
PDRA Board Member Charles Smith urges PDRA members to give this new program a try. “I’ve been using the program for a little over a year,” said Smith, owner of Smith Paint Co. Inc. in Roswell, N.M. “I’ll admit that it looked too good to be true, but I signed up for it. The changeover was painless. I was able to use my existing equipment, and I saved 29 percent in my very first month.”
With PDRA as a Preferred Partner, Smith reported that the savings will be even greater. “That’s why I think it’s a great benefit for all members of PDRA. If you don’t save money, you’ll get a Visa gift card, so they’re really putting their money where their mouth is. You have nothing to lose by giving it a try.”
It’s very easy to sign up for the program. Just go to PDRA’s website, log in and click the banner on the left-hand side with the Visa logo. It will direct you to a page where you’ll fill out a short preliminary form to get a free, no-obligation rate analysis. “Within 24 hours, we will contact you by email or phone,” Verryden said. We’ll fax or email you an application. Within five to seven business days, you will get your machine and be up and running.”