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You can accept credit and debit cards online, in person, or over the phone.
Positive Payments offers a choice of several pricing models. You can pick from an automatic surcharge (called the merchant rebate program), subscription-style, or a percentage-based model. All plans offer next-day funding for qualified businesses.
If you’re not sure which choice is a good fit for your business, be sure to check out our article explaining credit card processing pricing models in detail.
The automatic surcharge program works by passing credit card processing fees to your customers. Customers who choose to pay with cash will pay the regular price while customers that pay by credit card will incur a 3.75% fee.
Positive Payments references this video to explain the program:
Note that credit card surcharges cannot be applied to debit cards, meaning you’ll still pay the costs for debit use.
Additionally, surcharging credit cards is not permitted in all states. Cash discounts are permissible, but generally you will need to post the credit card price, and offer a discount on that price instead of posting a cash price and then charging more.
Since Positive Payments describes the merchant rebate program as posting the cash prices and charging more, it’s technically a surcharging program. Be sure to check if surcharging is permitted in your state.
Equipment: If you choose the merchant rebate program, you’ll utilize a Dejavoo Z8 terminal.
Costs: You’ll pay $59.99/month plus the costs for accepting debit cards. Your customers will pay a 3.75% fee when they used a credit card.
Contrary to popular belief, debit cards are not a flat-rate charge. Read more about the costs to accept debit cards.
The Premium+ plan is one of Positive Payments’ traditional pricing models, but the company provides far less details about it than the merchant rebate program.
What the company does say is that it’s available whether you accept cards in person, online, or over the phone. Pricing starts at 0.5%. It’s unclear if this is a tiered model with “qualified” and “non-qualified” rates, or if the 0.5% is the rate on top of interchange. The company also does not state if there are monthly fees. We’ve reached out to Positive Payments for clarification on these points.
Equipment: A Dejavoo Z8 terminal is pictured on Positive Payments’ website for the Premium+ plan, but the company also references the ability to support multiple machines.
Costs: The only published cost is the starting rate of 0.5%. Additional fees, including monthly fees and interchange costs, may apply.
The Platinum plan is a 0% “subscription-style” pricing model. Instead of a percentage markup, you’ll have a higher monthly fee. Note that you’ll still pay percentage-based fees due to interchange. You can read more about it in our article on 0% credit card processing.
As with the Premium+ plan, you can accept cards online, in person, and over the phone.
Equipment: As with the Premium+ plan, a Dejavoo Z8 terminal is pictured as the equipment for a Platinum plan, but the company mentions that it supports multiple machines. You may be able to opt for a different machine if you prefer.
Costs: You’ll pay interchange fees and a $60/month fee. Additional costs may apply.
Aside from payment processing, Positive Payment Solutions offers a gift card program and merchant funding for business.
Positive Payments references an electronic gift card program at a “competitive price” but provides no further details. We’ve reached out to the company for more information on costs, minimum card quantities, and other important details.
Positive Payments partners with a company called Rapid Capital Funding to offer funding options. While the site calls them “loans,” Rapid Capital’s site indicates that the funding is a merchant cash advance against future credit card sales.
With a merchant cash advance, you’ll repay the money through a percentage of your daily credit card sales. Cash advances are typically faster than loans an have looser eligibility requirements.
Funds are available for any business-related expenses. You can apply for up to $250,000. Approved businesses typically receive funding in a few days.
The pricing for accepting cards using Positive Payments depends primarily on the plan you select. Traditional pricing starts at 0.5% or 0% + $60/month, while a credit card surcharge program will cost you $59.99/month plus costs to accept debit.
See the individual pricing plans, above, for specifics about the costs of each plan.
Positive Payments also offers $500 if they can’t “beat” your rates.
Positive Payments offers free credit card machines for some businesses. The primary free terminal is a Dejavoo Z8 machine. However, the company says it can support other machines as well. If you opt for a different machine, you may not qualify for the free terminal program.
In addition to the Z8, the company references the PayAnywhere tablet POS system and PayAnywhere mobile swipers.
Unfortunately, there aren’t a lot of independent Positive Payments reviews. The company does post one testimonial on its website. The reviewer states that tech support was very helpful, by fixing the issue and explaining it clearly to help prevent further problems instead of rushing them off the phone.
Other than that, it’s difficult to locate current or former client impressions. The company has a Better Business Bureau profile, but it doesn’t have any reviews or complaints. Positive Payments is not listed in Google Reviews, and while the company has a Facebook logo in the footer of its website, it doesn’t link to an official Facebook page. A search of Facebook doesn’t turn up any companies by the name of Positive Payment Solutions or mybancard.
If you’ve used Positive Payment Solutions in the past or are a current client, we’d love to hear what you think! Leave a review!
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Posted by CardFellow on Aug 28, 2018
Choice of pricing models gives some flexibility if a business wants to automatically surcharge credit card transactions.