Alliance Financial Services

New Hypercom Terminals

Posted Thursday, May 28, 2009 by Morgan Buck

Hypercom just released a new line of low cost credit card processing terminals. This line of terminals is called the Optimum line. These terminals are replacing the T7Plus, T7P and other older Hypercom models.

Optimum T4205:

24 MB of memory- can add additional value added services to this terminal.

For example: Gift cards and Check Services

Compatible for retail and restaurant merchants
Mutli merchant capability

Can hold up to 20 merchant account on one single terminal.

PCI Compliant for an internal or external PIN Pad to run debit card processing transactions
Retail with tip capability
Dial Connectivity Only
Green LED back lighting
Keypad is water resistant
Printer can print up to 10 plus lines per second
Printer has drop-in loading thermal paper

24 MB memory for value added services
Compatible for retail, restaurant, small ticket, MOTO, and e-commerce merchants
Multi merchant capability
PCI Compliant for internal or external PIN pad to run debit transactions
Retail with tip capability
IP and Dial capability
White LED back lighting

This lighting helps improve visibility in low lighted areas.

Key pan is water resistant
Printer can print up to 15 lines per second
Printer has drop-in loading thermal paper

If you are interested in using one of these Hypercom terminal for your low cost credit card processing needs please let Alliance Financial Services know. We will be glad to help you determine which terminal is the best fit for your type of business and get you setup to accepting credit cards today. Just give us a call at (317)735-7997.

Low Cost Credit Card Processing Surcharge

Posted Tuesday, May 19, 2009 by Morgan Buck

It has been a while since I have posted. Alliance Financial Services was been in the process of moving to a new office. Sara and I have been busy packing up the old office, moving, and getting settled in at our new location. But I am now settled in and the blogging with start up again!

While Sara and I were in Las Vegas at the ETA Show we took a taxi cab to the airport so we could head back to Indianapolis. The taxi we rode in had a credit card processing terminal. Sara and I were pretty excited to see that they accepted credit cards. However we noticed that if you paid your fare with your credit card they charged you and extra $3.00 to process your transaction. This is against Visa and MasterCard regulations. So needless to say we decided to pay with cash and not use their credit card processing terminal.

The Visa and MasterCard regulations state that a merchant must not directly or indirectly require a cardholder to pay a surcharge or any part of any merchant discount or any contemporaneous fiance charges in connection with a credit card processing transaction. There are only certain merchants where convenience fees are allowed. Some examples of these include but are not limited to government and tax payments. Merchants not in this category can have their low cost credit card processing account terminated if caught forwarding on the processing fees to their customers.

If you have any questions about Visa or MasterCard regulations please give Alliance Financial Services a call.

Contacting Alliance Financial Services

Posted Monday, May 11, 2009 by Sara Heimann

In recent weeks, several of you have left comments on blog posts for Alliance Financial Services. Thanks! We love hearing from you!

However, please understand that we cannot see your email address or any other contact information when you leave a comment. That means that if you're requesting pricing or other information, we have no way to get that information to you.

Please email us at info@afsincorporated.com or use one of the forms on our website:

General Inquiries

Request A Credit Card Processing Quote

Get A Merchant Cash Advance

Request Brochures

Refer A Business and Get $25

Or give us a call at 877-735-7997!

We're Giving Away Money!

Posted Friday, May 8, 2009 by Sara Heimann

If you subscribe to the Alliance Financial Services blog through Google Reader or another service, make sure you click here and check out our new program that launched today (it's on the right sidebar). We're handing out money! Really!

Here's how it works: You tell a business about Alliance Financial Services, and how we offer great rates for credit card processing, debit card processing, and other merchant services. Then you go to this site, fill out the form with your information and their information. We'll contact them and see if we can save them some money on their processing fees. If they sign up with AFS, you get a $25 Visa gift card!

There's no limit to the number of gift cards you can earn, and no minimum requirements for the businesses you refer. As long as they are new to the AFS portfolio of merchants - we'll send you the $25 gift card!

Pretty exciting, right? I'll bet that you know someone who has a small business, or is thinking about starting a business, or knows someone who knows someone with a business! Give them a call and ask if they'd be willing to take a call from us at Alliance Financial Services. We'll do a free, no-obligation analysis of their rates. Everybody wins!

Here's the direct link to the online form to get started.

Back At It

Posted Thursday, May 7, 2009 by Sara Heimann

A lapse in blogging doesn't equate to a lapse in activity at Alliance Financial Services!

I'm back from my cross-country travels and busy getting caught back up with our merchants and partners. I also noticed that the posts I'd set to publish in my absence never made it to the blog, so I'll get those edited and published, too!

Morgan and I collected a lot of new information about the latest in credit card processing technology, merchant cash advance, check card processing, and a lot more at the ETA conference last month. I'm probably most excited about some new options for merchant accounts for businesses in the rental property field. There's some great software out there for vacation rentals, accepting credit cards at apartment complexes and storage facilities.

These types of businesses have been accepting credit cards for a while, but now there are some new tools to simplify the process for them, lessen the risk of fraudulent activity and keep their fees lower.

We also walked away with some great ideas to better serve our credit card processing customers, and we'll implementing those soon as well.

Make sure you're also keeping track of Morgan's blog. She's highlighting some new technology in the wireless credit card processing arena!

Wireless Way Terminal

Posted Tuesday, May 5, 2009 by Morgan Buck

In my next few blog posts I will be discussing some things I recently learned and some information on new products and services the credit card processing industry released at the Electronic Transaction Associations annual meeting Sara and I attended in Las Vegas.

We visited the WAY Systems booth at the ETA Show. They had there most recently released wireless terminal on display. This is the most up to date wireless terminal on the market today. Some key features of the WAY5000 are:

It can support the multi-merchant application- meaning more than one merchant account can process on this terminal.
Over the air capability which allows for mobile wireless upgrades as applications are developed or new services become available.
Battery life- can run up to 400 transactions and can last for 48 hours on standby time
Works anywhere a call phone works- best mobile coverage available
Customer service is offer 24 hours a day 7 days a week
USB port
Integrated magnetic stripe and Smart Card readers
The terminal is the size of a small cell phone
Integrated PCI Compliant PIN Pad
Includes a mobile printer
Thermal printer - Multi language characteristics and font support- Battery life is up to 300 transactions and 11 hours standby time

Do you own a business where you have to travel around making sales? For example if you own a pizza delivery, taxi service, construction, or several other businesses that accept low cost credit card processing transactions this wireless terminal is the perfect fit for you. Call Alliance Financial Services today to get setup to accepting credit card transactions on this WAY5000 wireless terminal.

(317)735-7997

Some Frank Insights on the Current Economy

Posted Monday, April 20, 2009 by Sara Heimann

The Chairman of the Board for Alliance Financial Services recently had a discussion with the President of Bank of Indiana, one of our partners in credit card processing. The conversation turned to commercial real estate in the current economy, something outside the scope of merchant advances and accepting credit cards, but some of the insights were later shared with me in an email.

Many of these talking points are affecting the businesses who use AFS for their credit card processing needs. And since many of those clients are readers of my blog, I thought I'd share it here.

Dan,

Your questions got me thinking about what is really happening in the area of commercial real estate. Here are the 5 areas that must be well thought out before investors, bankers, and stakeholders can address their risk and position in the market:

Property Values: I see commercial property values continuing to decrease throughout the remainder of the year. I believe they will remain at these low values for about 3 to 4 years. This is in part based on the excessive dark space created by retail bankruptcies of tenants and in part due to financial institutions requiring higher equity positions by investors.

Cap Rates: With property values decreasing, the inverse is true for cap rates. I expect cap rates to move by 200 basis points from the lows we saw in late 2007. For example, the prototypical Dollar General sale that may have been at 7.5% will move to 9.5%

Interest Rates: Interest rates are low, but spreads based on prime are higher. This is in part because cost of funds for most banks have not been able to adjust as rapidly as the Fed lowered the Fed Funds Rate. So, even if the Fed raises rates, I don't see loan rates going up in the near future. I also don't see the Fed raising rates any substantial amount in the near future since inflation is nearly non-existent.

Capital Markets: Capital markets will only free up when consumer confidence returns. With the prediction of rising unemployment over the several months, I don't think we will see a rebound in consumer confidence until next year. Even with the infusion of the stimulus package, the TARP funds, etc., I don't think the capital markets are going to respond strongly until 2010.

Equity: There continues to be pressure on investors from financial institutions for higher equity positions. The days of 80% LTV's for conventional retail centers are gone. Many banks are asking for 30-35% equity. This will continue to hold the real estate market pricing down as investors will need to justify the ROI that they will be getting.

Pretty interesting stuff, don't you think? I'll continue to push the board members to provide more content, as I think their combined expertise and experience brings a lot of value to Alliance Financial Services and our merchant customers.

Updates!

Posted Monday, April 20, 2009 by Sara Heimann

I've not been good about updating the blog in the past couple of weeks, and that's mostly because I've been so busy, both personally and professionally.

2009 continues to be a great year for Alliance Financial Services, and we're busier now than we have been in several months. That's really saying something in this economy! Merchants are realizing that now is a great time to really review their credit card processing statements and see if there's room to save some money. In many cases, there is. We're fielding lots of calls from merchants who want to better understand their fees.

Morgan and I will be heading out early tomorrow morning to attend the Electronic Transaction Association annual meeting and trade show in Las Vegas. We're scheduled to attend some classes so we're current on the latest in PCI Compliance and industry regulations. We'll also learn about some cool new technologies in the industry. I'll be anxious to share some of that here when we return on Friday.

AFS is also taking a more active role in the Indiana Bankers Association, and will be in attendance at their Mega Conference next week in Indianapolis. More on that later, too!

Personally, I've been in full-on party planning mode for the past several weeks. We pulled off a successful surprise birthday party for my brother earlier this month, where I got to spend some quality time with this guy (my new nephew):

And this past weekend was the culmination of weeks of planning for one of my best friend's bridal shower and bachelorette party. I'll be standing up as her maid of honor next week in Florida, and we had a fabulous time celebrating Lindsey's last days as a single woman this weekend. Here are the pictures to prove it!

I've got a couple of posts already scheduled for later this week, and I just might be blogging live from the ETA show this week. Keep checking back for the latest and greatest in credit card processing, merchant cash advance, and more!

Leasing, Renting, or Buying a Credit Card Terminal

Posted Friday, April 17, 2009 by Morgan Buck

Whether you decide to lease, rent, or purchase a credit card processing terminal is your decision. When deciding which option is best for your business you should think about the following things.

If you choose to lease a low cost credit card processing terminal you pay a low monthly fee each month. Paying a small monthly fee may be less of a burden on your cash flow, however merchants often times end up paying more money in the long run. For example- If you choose to lease a $600 terminal for $30 per month for the duration of your 3 year contract in the end you will end up paying $1,080 for your terminal.

The same goes for renting a terminal. When renting a terminal you end up paying more in rental cost then the terminal is actually worth and still have to return it when you are done processing credit cards. The only time renting is beneficial is if you are a short term merchant and aren't sure you will be accepting credit cards in the future. For example- if you decide to rent a $600 terminal for $50 per month for only three months you will be paying $150 to use the terminal. If you end up renting that terminal for 12 months you will be paying more in rental cost then what you could have bought the terminal for.

If you have money available, purchasing a terminal is definitely the way to go. Alliance Financial Services can break out your credit card terminal cost into 3 separate payments over a 3 month period if that will help you cover your expenses. If you have any questions about the benefits of purchasing a terminal vs. renting or leasing please let us know.

Following Up: Conseco Fieldhouse

Posted Wednesday, April 8, 2009 by Sara Heimann

Last week, I shared an open letter to Herb Simon, the owner of the Indiana Pacers. I was disgruntled after the concession stands at Conseco Fieldhouse didn't accept credit cards at a recent game, and I was left snack-less when the ATM was out of order.

I'm very pleased to share that the Vice President of Facility Services for Conseco Fieldhouse contacted me yesterday after reading my blog post. Mr. Kapp was extremely professional and courteous, and let me know that there are indeed plans to accept credit cards and debit cards at the concession stands in the near future. We briefly discussed the challenges and advantages to setting up a merchant services program for such a large multi-purpose venue.

Mr. Kapp: Thank you for your phone call. The information you requested about Alliance Financial Services is in the mail to you.

Internet Merchant Accounts

Posted Tuesday, April 7, 2009 by Morgan Buck

As I mentioned last week accepting credit cards as a form of payment on your Internet site is very important. You will attract more customers and sell more products and services if you allow your customers to pay by credit card.

Do you own a web based business that isn't set up with low cost credit card processing? If so Alliance Financial Services is here to help.

You will hear several terms you may not already be familiar with when applying for a web based credit card processing account. Some of these terms may include:

1. Qualified Rate
It is the lowest rate you will be charged when processing a credit card transaction.
2. Non-Qualified Rate
This is the discount level at which the transaction qualifies if it doesn't meet all the qualified rate qualifications.
3. Application Fee
A fee you are charged to process your application and get you up and running to accept credit card on your website.
4. Authorization Fee
This is a fee that is charged each time a credit card transaction is sent to your credit card processing institution, weather it is accepted or declined.
5. Statement Fee
We mail you a statement at the end of each month showing you all the transaction you made that month and the fees that will be deducted from your account.
6. Monthly Minimum
This insures that you re processing a certain amount per month. If you don't process that amount you will be charged this fee.
7. Batch Fee
This is charged to you each time you settle your terminal (in some case this is done for you automatically each evening). When settling your on line account all the transactions you processed that day will be sent to your institution in order for them to pay you.
8. Per Transaction Fee
A flat fee that is charged each time a credit card is successfully processed.

Fees vary for each particular merchant, so if you want a price quote for your particular business account give us a call. Weather you are already processing credit cards and want to see if we can beat your current rate or are looking to start accepting credit cards Alliance Financial Services can help.

Call (877)735-7997 or email me at mbuck@afsincorporated.com

Low Cost Credit Card Processing for Small Businesses

Posted Tuesday, April 7, 2009 by Sara Heimann

It's no secret that Alliance Financial Services is a small business. We'll never do the credit card processing or check verification for companies like McDonald's or Kmart. We can't compete in that arena with powerhouses of Chase and Bank of America. But, really, we don't want to. It's not our business model.

We know what it's like to not have an in-house IT department. We can relate to the small and medium-sized businesses that we work with every day, where the owner is also the head of marketing and the HR manager answers the phone.

I really like working with small businesses around the country for a number of reasons:

* The relationship: Cindy at the motorcycle dealership in North Carolina knows she can call me directly when she needs a batch report from last night faxed over. I've never met Cindy, and probably never will, but she takes comfort in knowing that she I'll answer the phone by the third ring and she'll get what she needs in a matter of minutes. And I take comfort in knowing that she'll call me if she doesn't understand her merchant services statement.

* They're open to new technology: There are some great tools out there that make perfect sense for small businesses. The chain of tanning salons in Northwest Indiana does mostly recurring transactions for monthly memberships. A standalone terminal doesn't make sense for them, but software application sure does. We had their eight locations programmed and their staff trained in less than a week. Implementing a system like this in a large company could take months.

* They're not afraid to ask questions: Small business owners know that they need to watch every penny, and I'm always encouraged by the phone calls from merchants who want help understanding the true cost of accepting credit cards. I really enjoy helping these merchants "get it" when it comes to why entering a zip code is important, and they appreciate even a few dollars saved.

Your business is NOT too small to accept credit cards. And I think you'll find some value in working with another small business as opposed to a big box processor. Ready to make the switch? Let's get started.

An Open Letter to Herb Simon

Posted Thursday, April 2, 2009 by Sara Heimann

Dear Mr. Simon:

A friend and I attended the Pacers game versus the Chicago Bulls earlier this week at Conseco Fieldhouse in downtown Indianapolis. It was an excellent game: the Pacers grabbed the win in the final seconds of the game. Our seats were great, the crowd was fun, and the team didn't disappoint.

However, I'm one of those people who just can't sit through a sporting event without a bucket of popcorn or a bag of peanuts. We'd had a fantastic dinner before the game, but by halftime I was ready for a snack. The lines were long, but we were able to see that the registers at the concession counter had card-swipers on them. Good: no need to get in the ATM line.

When we got up to the front of the line, though, the friendly Aramark worker let us know that it was cash only. Okay ... fine. The card-swipers are not functional at Conseco Fieldhouse. So we trekked over to the only ATM on our level. Out of service. We walked the entire perimeter of the concourse to discover there was just the one ATM. So we went to a different concourse, where we were met with a line of about 30 people.

By this time, the second half was starting and I was anxious to get back to my seat. Rather than miss the entire third quarter, we walked back to our seats, annoyed and with rumbling stomachs.

Mr. Simon, as Executive Vice President of the company who is the preferred vendor for low cost credit card processing in all of your Simon Property Group retail locations nationally, I'm confident in saying I can help you. Let's get the Pacers franchise back on track financially. A great place to start is increasing the concession revenues, and the simplest way to do that is to accept credit cards at Conseco Fieldhouse. I'm sure I wasn't the only one who bypassed some cotton candy or a beer at Tuesday night's game because they couldn't honor my preferred payment method.

Call me. I can help. And, GO PACERS!

Sincerely,

Sara Heimann
Executive Vice President
Alliance Financial Services
(866) 735-7997

Happy Birthday!!

Posted Thursday, April 2, 2009 by Morgan Buck

Be sure to jump over to Sara's Blog today and wish her a Happy Birthday!

Do I Really Need to Accept Credit Cards?

Posted Thursday, April 2, 2009 by Morgan Buck

The answer is YES. In today's market there are not too many successful businesses that do not accept credit cards. Accepting credit cards at your business location is shown to increase sales dramatically. Depending on your particular type of business, increase in sales can be anywhere from 15-100%.

An example of a type of business that would see a more dramatic increase in sales is an on line store. Customers want to pay immediately for there good and services. They do not want to have to call or wait for the merchant to come and collect there money.

What are some reasons for the increase in popularity of credit cards?

1. People do not carry cash on them very often.

2. People want to save the cash they do have in their wallet for emergencies.
3. Consumers are making larger purchases which require them to make more purchases on their credit card rather than paying with cash.
4. Giving consumers the ability to pay with a credit card will allow more impulse buying.
5. Consumers are wanting to gain loyalty points by using there credit card.
6. Consumers are looking to float money in a bank account.
7. Consumers are making reimbursable purchases for the company they work for and don't want to spend there own money on these purchases. They would rather keep there money on hand until the company reimburses them.
8. Consumers will buy from a merchant that accepts credit cards over a merchant who only accept cash.

If your business isn't setup with low cost credit card processing Alliance Financial Services would like for you to give us a call. We will be more than happy to explain how accepting credit cards at your business will increase your sales.
(877)735-7997

Interchange Vote Tomorrow

Posted Tuesday, March 31, 2009 by Sara Heimann

No Interchange Regulation

Tomorrow, April 1, a subcommittee of the US House of Representatives Financial Services Committee will vote on a broader legislation targeting credit card reform.

Consumer credit card reform doesn't typically have a lot to do with the credit card processing industry. There are big differences between issuers and acquirers. But somehow, interchange regulation - a wholly acquirer concern - has been attached to this credit card reform bill - an issuer concern.

Interchange regulation has come up in the past, and it's been largely dismissed as a bad idea by organizations like the US Justice Department, the American Banking Association, the US Government Accountability Office, and the Federal Trade Commission.

Supporters argue that the bill will "level out" credit card processing costs. At first thought, that sounds like a great idea. But the bill is designed to help huge retailers (like Walmart), not small businesses. It's far more likely that this bill to regulate interchange will result in higher processing costs for the majority of businesses, which will ultimately fall on the shoulders of consumers. It will eliminate competition in the payments industry, and that's not a good thing for anyone.

Alliance Financial Services strongly opposes the legislation that is being added to H.R 627. At a time when every business is struggling to survive in this economy, now is not the time to interfere with a system that is working.

If you own a small business, work in the payments industry, or simply oppose the idea of small businesses and consumers carrying the load for big-box retailers, please reach out to your Members of Congress TODAY and let them know how you feel.

Customer Service

Posted Tuesday, March 31, 2009 by Morgan Buck

Are you looking for a credit card processing company that has excellent customer service? Look no further Alliance Financial Services is the perfect match. Alliance Financial Services is willing to take the extra time and effort to make your low cost credit card processing experience as easy and painless as possible. We offer a 24 hour help desk; we will come out to your location if we have a sales rep in your area, we offer up to date credit card processing technology, and low competitive pricing.

What makes Alliance Financial Services customer services better than our competitors? We are here to help service you and are willing to do whatever it takes to make sure you have a wonderful experience working with us. We want you to be so satisfied with our services that you tell all your friends and local businesses about Alliance Financial Services.

An example of our great customer service:
This past week a merchant called me and was having a few terminal issues. I told them that we would need to do a quick download to there terminal to solve these problems. They were unable to complete this software update at their business location because they don't have an analogue phone line that is required when performing any terminal maintanance. So I went out to the merchants location that afternoon and give them a loaner terminal while I went back to the office and performed the download. This made things much easier on the merchant and allowed them to continue accepting credit cards while I took care of there terminal issues.

We are willing to do this for all of our merchants no matter how big or small your issue might be. Even if you aren't a local merchant we can swap out your terminal for you if that is what it takes.

So look no further Alliance Financial Services is waiting for your phone call so we can get you set up with low cost credit card processing today.

(877)735-7997

Credit Card Processing on the iPhone?

Posted Tuesday, March 31, 2009 by Sara Heimann

I don't have an iPhone, but I do occasionally covet my friend, Don's.

There are so many cool applications for the iPhone, and I think these commercials are so neat:

I recently came across an article about a company called Inner Fence, LLC. They're a software development company that has developed an iPhone app that serves as a credit card processing terminal with no extra equipment required. The application works through a payment gateway (Authorize.net) and the proprietary software.

Inner Fence has chosen to market their application through a partnership with one particular processor, but I did dig a little deeper in their website and found that you don't NEED to use their preferred vendor for the merchant account. Credit card processing accounts through Alliance Financial Services can and do use the platforms listed on the site, though I've not seen them release any information about being certified on this new iPhone Credit Card Terminal application.

I've requested more information from our processing partners and will post again with my findings!

The Green Sheet

Posted Monday, March 30, 2009 by Sara Heimann

Like most professionals in the credit card processing industry, I subscribe to a trade publication called The Green Sheet. It arrives a couple times a month, about 100 green pages of the latest news on merchant services, cash advances, new technologies, and everything in between.

Most of the time, I skim the headlines while I eat lunch at my desk. A lot of it is redundant by the time I read it, because I also subscribe to the The GS Newswire - a blog published by the fine people at www.greensheet.com. I like the online version because it doesn't have all of the ads that the hard copy does.

The cover story of the issue that arrived on my desk today, though, caught my eye.

In 22 short days, Morgan and I will be taking off for Las Vegas for three days of workshops, classes, and networking at the Electronic Transaction Association show. It's been two years since I've attended the show, so I'm excited to get out there and re-connect with business partners throughout the industry. Seeing the article in The Green Sheet has me completely energized and I've just about packed my entire schedule for while I'm there.

Are you going to ETA this year? Wanna meet up? Let me know!

What Makes a Business Risky?

Posted Wednesday, March 25, 2009 by Morgan Buck

There are several reasons why a processing company would considering a business risky and possibly decline or require more documentation from them. Here are a few reasons Alliance Financial Services may consider your business high risk.

1. High monthly average ticket- Merchants who process large tickets items (over $500)
High monthly processing volume- Merchants who process a large amount of volume ($100,00 or more per month)

Merchants who fall into these categories need to be aware that Alliance Financial Services will be more thorough when reviewing these merchant applications due to high potential of fraud and potential losses. We typically ask for more documentation upfront. This may include but not be limited to Tax Returns and Financial Statements.

2. Derogatory Credit

It is almost impossible for a person with poor credit history - to no credit history at all to receive a low cost credit card processing account. However Alliance Financial Services can get these merchants approved in some cases. We typically just end up charging these merchants a higher discount rate and/or putting a Reserve on the account.

3. Business Type

Each merchant services provider restricts certain types of businesses. Some examples of merchant account Alliance Financial Services can not approve are:

Adult Entertainment
Time-share Services
Collection Agencies
Drug Paraphernalia or Illegal products and services

If you have any questions about your business getting approved for low cost credit card processing please let us know. I will be glad to answer any questions you might have and get your business setup to accept credit cards today.

(877)735-7997

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