Headquartered in Virginia, Connected Money is a registered ISO and MSP of Wells Fargo Bank and operates on the First Data platform, meaning it can support popular solutions from First Data, including the Clover systems.
All the major ones – Visa, MasterCard, Diners Club, American Express, and Discover. You can also take PIN or signature debit cards, fleet cards (including Wright Express, Voyager, and Fuelman), and gift cards.
Connected Money gives you several options for how to take cards. You can do it online, in person, using your smartphone, or by phone and mail order. For mobile, Android and Apple phones are both supported so you can use the services no matter what operating system you prefer.
In addition to credit card processing, Connected Money offers merchant cash advances, check processing, ATM placement, website building, and payroll processing.
With a merchant cash advance, you’ll get a sum of money to use for business expenses and repay it through a percentage of your credit card sales each day. While it’s convenient for businesses that don’t want a fixed monthly payment, CardFellow does advise that there are some drawbacks to consider, which you can read about in our article on merchant cash advances.
If taking checks is important to your business, you’ll want to take advantage of Connected Money’s check acceptance solutions. Connected Money uses Telecheck to help you offer the convenience of paying by check while reducing your own risk of bounced checks.
Connected Money touts the benefits of an in-store ATM drawing in customers and frequently spending much of their newly-withdrawn cash right there in your store. If having an ATM is something you’d like for your store, Connected Money can set that up for you.
Connected Money doesn’t offer a lot of details about their website building services, but do advise that they can work with many different types of businesses. Connected Money may be able to help you if you don’t currently have a website for your business, or if you’re considering an upgrade of your existing site.
Looking for a way to optimize the payroll process? Connected Money gives electronic pay disbursement so you can reduce paper checks, save time, and provide convenience to your employees.
Yes. Connected Money has both restaurant and retail point-of-sale systems to meet your business’s specific needs. As Connected Money works on the First Data platform, you can use many popular models, such as the Clover family of equipment.
If you already have equipment, Connected Money may be able to reprogram it for you.
Connected Money uses security technologies like encryption and tokenization for your security. As a company operating on the First Data platform, Connected Money also offers TransArmor, First Data’s comprehensive security solution. TransArmor helps with data protection, PCI compliance, and hardware fraud monitoring. Additionally, it includes a liability waiver for up to $100,000 of costs in the event of a data breach.
Connected Money, like many processors, doesn’t publish rates on their website. However, Connected Money will place quotes for you through CardFellow so you can see how their pricing stacks up. If you don’t have a CardFellow account yet, it only takes a few minutes to sign up and it’s completely free. Use this link to sign up now.
Connected Money states that there are no long-term contracts or early termination fees provided you offer 30 days written notice before termination.
Unfortunately, there’s very little to go on here. Connected Money has almost no web presence aside from their own website. The company doesn’t have a profile with the Better Business Bureau, Yelp, or other review sites, nor do they offer testimonials or awards on their website.
For this reason, it’s particularly important that businesses who use Connected Money leave reviews for other businesses that are considering using Connected Money.
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Posted by CardFellow on Apr 19, 2018
Connected Money provides a lot of payment services, and can support businesses that are considered "high risk."