make sure you are on regular Amex and not Amex “One Point” lower limits and much less protection on chargebacks

Hi,

I have a word of caution for you, This is in tune with my personal motto in regards to the less then honorable payment processing industry. “I’m not your enemy I’m your advocate!”

Last year Amex rolled out a new program that pays residuals to cc processors called “One Point” The old and preferred setup you should be on is called “AXP Direct.” AXP direct does not pay residual income to processors but is far more advantageous to you the merchant. It sounds good as the processor tells you “now all of your Amex will be on your MC/Visa statement and you won’t have to wait an extra day for your money as it will be batched along with your MC/Visa funds! Canal water! While true I would never put a merchant on One Point as it would be a disservice.

What they don’t tell you is that

-now your daily & monthly Amex transactions will be counted towards your volume limits. There are no concrete limits with Amex Direct as they hold both sides of the transaction so they have the best knowledge as to the cardholder being good for the charge.
-if you get a chargeback you will have to fight the chargeback though your MC/Visa processor’s chargeback department. Even if they have a great and conscientious chargeback department (rare) you are still better having Amex deal with your chargebacks because they usually decide in favor of the merchant unless you are clearly in the wrong.

Again I stress make sure you are not on “One Point.” If you have any doubts contact me and I will assist you.


Bill Hoidas
Consultant Manager Larger B2B/MOTO/Internet Accounts
Product Development Manager
Matrix Payment Systems
(847) 381-3482 office
(847) 381-4289 fax
http://paymentconsulting.net/
http://chicago.citysearch.com/review/44659273
http://paymentconsulting.net/funding.html
JOHN 3:16 For God so loved the world, that he gave his only begotten Son,
that whosoever believeth in him should not perish, but have everlasting
life.
These days we are facing an economic crisis and need to prepare ourselves
more effectively for the recovery – to discover opportunities, identify
potential partners looking for opportunities, looking for a reason to hope.
Now it’s a good idea to ask: how could my product/service provide
opportunities in today’s economic climate?

FREE GOURMET BREAKFAST!

Hi,

If your business is in the area I’d like to recommend a meeting on Tuesday January 18th at 8:00AM – 9:00 AM at Clauss Recreational Center. 555 Bryn Mawr in Roselle. Meeting is on lower level. There will be a gourmet catered breakfast at no charge to you. I have been to different networking meetings and they always seem to be a bunch of salespeople trying to sell each other something. Plus the fees are very reasonable to join!

Community Business Partners http://cbpart.net/ is a group of hard working people who for the most part are business owners. The meetings are fun without being overly structured or orchestrated and many leads are passed. If you do decide to join and are accepted it will be a good decision on your part.

Let me know if you can make it!

Bill Hoidas
Consultant Manager Larger B2B/MOTO/Internet Accounts
Product Development Manager
Matrix Payment Systems
(847) 381-3482 office
(847) 381-4289 fax
http://paymentconsulting.net/
http://chicago.citysearch.com/review/44659273
http://paymentconsulting.net/funding.html
JOHN 3:16 For God so loved the world, that he gave his only begotten Son,
that whosoever believeth in him should not perish, but have everlasting
life.
These days we are facing an economic crisis and need to prepare ourselves
more effectively for the recovery – to discover opportunities, identify
potential partners looking for opportunities, looking for a reason to hope.
Now it’s a good idea to ask: how could my product/service provide
opportunities in today’s economic climate?