Category Envoy Aggregrators
ACCOUNT TYPE Envoy sets up TRUE MERCHANT ACCOUNTS, we are not money movers. Money movers who combine their customers into “large-group” merchant accounts.
UNDERWRITING & RISK Your merchant account is always underwritten ensuring your funds are delivered timely and holds/reserves are not established without justification. Accounts are not underwritten when they are signed up and can be shut down for no reason. Instead, of doing homework upfront, over-zealous risk departments can cause disruption to your business.
PRICING Pricing structures are customized according to merchants processing needs resulting in overall lower costs. Flat rate and interchange plus pricing are both available. Rates plus fees make using Square generally more expensive (2.75% [swiped] 3.50% + $0.15 [keyed]. While the cost structure is simpler, it doesnt mean Square costs less.
DURBIN AMENDMENT PRICING Durbin pricing is available whether keying or swiping cards. On a $100 offline debit transaction cost is 0.17% plus $0.25 ($0.42). No Durbin pricing. $100 keyed transaction at 3.50% plus $0.15 is $3.65! If swiped at 2.75% the cost only lowers to $2.75!
PERSONALIZED CUSTOMER SERVICE Dedicated Certified Payments Professional Relationship Manager plus Award-winning 365/24/7 customer service via phone, email & livechat. Customer service available only via email, twitter or website.
CARD READER Low cost and high quality encrypted card readers. Their free card reader is now encrypted, but older card readers are not. Upgrading to process EMV chip cards is not free.
WALLETS Provide acceptance of any mobile wallet (QR code or NFC) that your customers choose to use. Square Wallet allows consumers to link a credit or debit cards to make payments at Square merchants.