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Frequently Asked Questions about Credit Card Processing & Merchant Cash Advance

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  • GENERAL QUESTIONS
  • MERCHANT SERVICES
  • MERCHANT CASH ADVANCE
  • PRESS

How did you manage to make Credit Card Processing so affordable?

Unfortunately, we can't share that. Otherwise our competitors could get the best of us. However, we will say this. We got rid of A LOT of middle guys.

 

Why are you so focused on Veteran Owned Businesses?

The Founder of Phoenix Merchant Services (Mr. Alexander Mirvis) is a US Army Veteran and served as an Infantryman in Iraq.

 

How can I reach the CEO?

Mr. Mirvis is always available to speak with his clients. You may reach him directly at 888-558-9729 x700

What Kind of Equipment and Services do you support for Credit Car Processing?

We pretty much support any type of equipment. Think of us like an unlocked cellphone services. Whether you need a Mobile Device, Credit Catd Terminal, POS (Point of Sale), or eCommerce Gateway, we pretty much support it all.

What are interchange rates?

Visa, MasterCard, Discover & American Express have their own rates. Processing companies have a sir-charge on top of these rates and average out at 1.69% + $0.25 per transaction. Essentially, you're paying an average of 3% to 4% per transaction.

Are the Credit Card Transactions Secure?

Yes! Every Payment Processing company is required to have a Bank Grade SSL Encryption and more!

What are your rates for Merchant Cash Advance?

On average, our rates are about a factor rate of 1.25. Factor rates are not based on percentage. Factor rates are calculated like this. Lets assume, you need emergency funding of $10,000 and our factor rates for your type of cash advance is 1.25. You would basically multiply $10,000 x 1.25 (No Percentage). What you will owe is $12,500.

What are the requirements for Merchant Cash Advance?

General requirements are: Be in business for at least 9 months, have a daily balance of $1,500, deposit $10,000 or more per month.

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© 2016 Phoenix Merchant Services. Phoenix Merchant Services is a registered ISO of Wells Fargo Bank N.A., Walnut Creek, CA - Phoenix Merchant Services are operating under Centaurus Holdings, Inc.