Like all processors, Monify lets you accept major credit and debit cards (Visa, Mastercard, American Express, JCB, and Diners Club). However, since it also caters to convenience stores and gas stations, the company specializes in fleet cards like Fuelman, Voyager, and Wex. Additionally, Monify boasts familiarity with business-to-business (B2B) payments.
If you’d like, you can also accept electronic checks, EBT, and gift or loyalty cards. Monify boasts next day funding so you’ll have access to your money quickly.
For businesses in the retail and restaurant industries, Monify Merchant Solutions offers payment processing with PCI compliant terminals. In addition to accepting credit and debit cards, checks, and gift cards, you can take advantage of tools like inventory management, employee tracking, and more. Specific tools available depend on the equipment you choose and apps you install.
On the go? The First Data Mobile Pay solution ensures that you can accept payments from clients anywhere you have wireless coverage, at any time. Payments are processed securely in real time, and receipts can be emailed to customers. You can prompt for tips, automatically add taxes to totals, and store a list of products in a basic inventory.
Mobile Pay is available for Apple and Android devices.
Convenience stores and gas stations have unique needs that not all processors are equipped to address. In particular, gas stations often need to accept fleet cards in order to maximize business from clients that are required to pay with their fleet card. Monify helps simplify the process of fleet card acceptance, including billing the fleet card fees, handling reporting, and working with you on chargebacks. The company can also assist with setting up pay-at-the-pump processing.
Related Article: Taking Wex, Voyager, and Other Fleet Cards.
Business-to-business transactions have different requirements (and costs) than business-to-consumer transactions. Working with a company that is familiar with B2B can help ensure that you’re accepting payments in a cost-efficient manner. Monify offers B2B processing with a virtual terminal solution for securely entering card details, including the enhanced data required for B2B transactions.
There are two different levels of enhanced data – level 2 and level 3. Some processors and gateways can only support level 2. Monify Merchant Solutions supports both level 2 and level 3 enhanced data.
Related Article: B2B Transactions – What You Need to Know.
In all cases, you’ll benefit from Monify’s online reporting portal which provides helpful data for business management. You’ll be able to access individual transactions, including sales, refunds, and chargebacks. If you need assistance, customer service is available 24 hours a day, and personalized one-on-one training is available for your staff.
As a First Data reseller, Monify offers the Clover Insights (formerly Insightics) program for business analytics or AccessOne online reporting.
Monfify Merchant Solutions claims on its website that 88% of consumers purchase of receive a gift card every year. If you’re looking to tap into this purchasing trend, you can offer branded gift cards with your store’s info. You can design your own custom card, or choose from pre-designed cards. The gift card program offers bundles that include the cards, displays, and signage to draw attention to your gift cards. Your gift card program includes reporting so you can track sales, redemptions, and more to determine where you’re having success and how you can improve.
On the loyalty card side, Monify offers the Perka loyalty program, a digital rewards-based program that customers can access through their smartphones. Perka replaces paper punch cards, offering a greater level of convenience and security. You can set redemption levels to reward customers with a free item after X purchases, percentages off, and more. Perka integrates seamlessly with the Clover Station.
Related Article: How to Start a Successful Customer Loyalty Program.
Monify works on the First Data platform, and supports various equipment options that are compatible with First Data. These include the FD130 countertop terminal, Clover equipment, and Telecheck. Clover options include the full Clover Station, Clover Mini, Clover Mobile, and Clover Go.
Monify also supports the Payeezy gateway for online transactions.
The Clover Station is a popular point of sale system that can be customized for your specific needs by adding optional accessories and apps. The Clover App Marketplace offers a variety of free or low cost apps for everything from inventory tracking to customer management. Fuel for Clover is a specialty app for full Clover Stations and the Clover Mini system. It helps gas station owners manage fuel systems (including pay at the pump) directly from their Clover system. Monify offers this video explaining Fuel for Clover:
A user-friendly touchscreen interface helps you easily perform fuel management functions and integrates your pay-at-the-pump and in-store sales.
Related Article: Before You Buy a Clover Station…
In addition to providing PCI compliant processing equipment (including EMV chip-card-capable machines), Monify offers First Data’s TransArmor Security suite to protect payment data as soon as a card is swiped. The software helps prevent costly data breaches that can affect businesses of any size. TransArmor may incur a separate monthly fee.
PCI compliant equipment is only part of your PCI requirements. You’ll also need to adhere to other PCI standards and complete a questionnaire. To assist with achieving and maintaining PCI compliane, Monify offers First Data’s PCI Rapid Comply. With Rapid Comply, you’ll get expert assistance determining the correct questionnaire, automatic vulnerability scanning, and more.
For assistance with charegbacks and fraud, the First Disputes online management system give syou access to an efficient dispute management dashboard. The system pulls in details from customer statements and other sources to help resolve issues.
Like many credit card processors, Monify doesn’t publish rates and fees because they vary from business to business. The company doesn’t provide details on pricing models, cancellation fees, monthly fees, or other details.
Even though Monify doesn’t list pricing, you can get a fully disclosed quote specific to your business with no sales calls or pressure by using CardFellow’s free quote request tool. We keep your contact info private, and you can compare pricing from as many processors as you’d like. Try it now.
Unfortunately, reviews for Monify Merchant Solutions (or Solutions Cash Systems) are virtually non-existent. The company doesn’t have a Better Business Bureau profile, Yelp profile, Google reviews, Ripoff Reports, or testimonials on its website.
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Posted by CardFellow on Apr 25, 2018
Monify specializes in B2B transactions and other specialties like gas station payments.