FAQ

Below are some frequently asked questions. If you have other questions or need additional info please contact us.

How long is Funding?

Payment is processed immediately from the creditor and funds will be wired into the merchant’s designated account 48hrs or less.

What is processing?

Charities and other fundraising organizations, merchants of any type either web-based or walk-up, institutions/schools, municipalities, events, and any organization that uses a credit card payment always pay a processing cost for that transaction. Then a monthly merchant statement or an accumulated processing statement is then billed for those total processing costs.

How is the processing cost determined?

The processing cost is based upon a percentage of the sale amount and a per transaction fee. The established basis for the percentage and transaction fee is the Interchange, which is regulated and standardized from the credit card industry, ie Visa, MC, and Discover; Amex is a separate direct relationship. Each type of card (debit, regular credit, rewards, business, etc.) and transaction (pin entered, regular swipe, internet, etc. ) will have a different interchange rate. A PIN entered debit card has the lowest percentage and then the Interchange percentage increases with each card type, especially the rewards programs. Enablest offers the Interchange information readily, as a guide and comparison for its cost-plus system and analyzing your current transaction plan.

What does Enablest and other processors charge?

The processing cost basis of the Interchange is the same for any size or type of merchant. Processors have to pay these Interchange rates regardless of their plans types, most commonly a tiered, bundled, or premium. These plans are packaged as a perceived savings but have a higher actual percentage rate across the board, when compared to the actual Interchange rate for that card type. The purpose of these plans makes it difficult to comprehend the different Interchange rates for the card types and determine how much the processor is actually charging. The Enablest cost plus system provides an open book approach with every different card type’s rates and their calculation. The cost plus system takes that card type’s basic Interchange rate (COST) and adds the processor’s premium (PLUS) of .10% and $10, this pricing is standard. Transparency with our processing fees also combines with the Enablest no asterisk policy, in order to prevent unnecessary fees that can accumulate quickly.

How is an analysis done?

The merchant can provide a merchant copy and Enablest will respond with a proposal showing a breakdown of each card’s actual total percentages with the current processor costs and a comparison to the .10% and $.10 cost plus plan offered by Enablest. To date, Enablest averages a savings of 20%.

What type of equipment and lease/own?:

Enablest education goal is not as a direct seller of equipment but can provide an analysis of the current situation. Direct ownership is the most cost efficient as equipment costs do not warrant a lease. Leases generally have multiple year contracts, and the price per month for the first year will generally by the equipment and after the lease expires can exceed the purchase price in excess of 300%.

Are you compatible and what is the conversion timing?

Enablest and RBS is fully compatible with 95% of the equipment and electronic interface. The conversion will not interrupt business and can be performed anytime after a batch is done. Technical and instore support is offered by Enablest and RBS.

What about E-Commerce and a Virtual Terminal?

Web payment requires the necessary security provisions and firewalls, and Enablest is compatible with those transactions. The Virtual Terminal is the online account set-up for a merchant to process their credit card transactions. This specific secure webpage account will allow the merchant to input the cardholder’s data and process the transaction at that card types interchange rate. These interchange rates for Virtual Terminal has a savings when compared to Card Not Present.