Merchant Services

Nearly every type and size of business can benefit from having a merchant account with a merchant services provider. Whether you are your company's only employee or you have a larger team with multiple locations, accepting credit cards gives you a number of advantages:

• A broader customer base: Today's consumers expect to be able to use their credit and debit cards everywhere. Accepting credit cards—particularly when your competitors do—can open up a new customer base.
• Higher sales: Some shoppers spend more when they're able to pay with credit cards instead of writing a check or paying in cash.
• Improved cash flow: Credit card processing companies quickly settle credit card transactions, so your money isn't held up while checks clear.
• Improved security: A bad check can cause you to lose both money and time, while credit cards are approved or declined as they're being processed.

You can contact us online to request more information, or schedule a session with one of SCCU's Business Advisors. Our business consultation services are free for our credit union members. Not yet a member of Space Coast Credit Union? In addition to merchant services, we offer a full range of services to support the success of your company, including:

• Free Business Checking
• Business Interest Checking
• Loans for vehicles, equipment, real estate and more
• Payroll services
• Online Banking
• Mobile Banking

Merchant accounts are necessary in order to access merchant services. These are financial services that allow businesses to accept payment via credit cards and debit cards. When you're approved for a merchant account, you'll be able to start credit card processing, accept mobile payments, and take advantage of other services that the merchant account provider may offer. Merchant accounts are bank accounts designed just to manage credit card payments and processing.

Merchant services are offered by banks and other financial institutions, as well as through independent merchant service providers. At Space Coast Credit Union, our BancCard merchant services partner provides affordable credit card processing, including mobile credit card processing, for our credit union members who have small businesses.

Through our BancCard merchants services partner, Space Coast Credit Union offers VirtualMerchant Mobile, which lets you accept credit or debit card payments with your tablet or your smartphone. The VirtualMerchant app works with most iOS or Android mobile devices, and lets you quickly enter payment information. Your customers then sign right on the screen, and receive an emailed receipt.

In addition to using it when you're on the go, mobile credit card processing can be used at your brick-and-mortar locations, giving you the convenience of an extra payment terminal.

Whether your small business is online or you have brick-and-mortar locations, Space Coast Credit Union has the merchant services you need to make it easy for your customers to do business with you. In addition to convenience for both you and your customers, SCCU's merchant services offers a full range of features and benefits to help your business succeed. With the solutions provided by our BancCard merchant services partner, you can:

• Use your mobile device as a credit card processing terminal
• Choose from web-based or wireless terminal options
• Take advantage of payment gateway products, such as Authorize.Net and Virtual Merchant, that are shopping cart compatible
• Add attractive payment options for customers such as gift cards, electronic check acceptance and loyalty cards
• Accept private label fleet cards and FLEX spending cards
• Get next-day availability of funds

To learn more about all of the ways Space Coast Credit Union's merchant services can help increase your company's efficiency and reduce your costs, please contact us.

The best company is the one that offers the features and conveniences you want at a cost that's right for you. In general, you want to look for a merchant services provider that:

• Offers support for small businesses
• Allows you to accept the widest range of credit card types
• Offers the type of point-of-sale terminal you prefer, such as wireless
• Offers advanced mobile credit card processing that allows you to do business anywhere
• Has time-saving additional features, such as shopping cart compatibility, check verification, customized software and payment gateway solutions, and check imaging
• Gives your business next-day availability of funds

At Space Coast Credit Union, our partnership with BancCard lets us provide our business customers with comprehensive and cost-effective merchant processing services. Please request additional information or contact us to get answers to your questions about our credit card processing solutions.

A merchant service fee is charged monthly to merchant account holders by credit card processing companies. Depending upon the merchant services provider, this fee is charged and remains unchanged no matter how many transactions you have.

There may be other fees associated with merchant services, including:

• Monthly minimum fee: Your credit card processing company may specify a minimum amount for transaction fees. Should your monthly fees not reach the minimum, a fee may be charged.
• Daily batch fee: When you settle your daily account, you may be charged what is known as a batch fee or batch-header fee.
• Transaction fee: Regardless of whether a transaction is declined or approved, there may be a fee to process each transaction.
• Address verification service (AVS) fee: AVS offers some protection against fraudulent credit card use and is important when processing a transaction for which a physical card isn't used.

A merchant services account with Space Coast Credit Union allows you to accept payments from customers who have all card types, including Visa, American Express, MasterCard and many more.