Small retailers, restaurants, and service providers usually contract with a merchant services vendor for providing credit card services. Generally, everyone signs up and accepts VISA, MasterCard, and Discover. The merchant services provider streamlines things by bundling their services and offering a unified statement and direct deposit into your bank account. But, many small businesses deferred from accepting American Express (AMEX) cards as it carried a higher rate, a contract directly with AMEX. As AMEX was not small retailer friendly, many folks for whom AMEX acceptance was important just went elsewhere. Now, on Main Street, at the Mall or on the Internet you never have to say no to AMEX again.
Now, small businesses who are members of Financial have access to a new American Express Merchant Services program called OptBlue. Under the program, works with you to set your processing rates for accepting American Express cards. This means the extremely competitive rates that Appstar provides for VISA, MasterCard, and Discover Card can now be offer to you via the OptBlue program from American Express.
Are You Eligible For OptBlue?
With setting your American Express rate, and not American Express itself, businesses with an expected annual American Express sales volume of less than $1 million are eligible.
Advantages Of OptBlue By AppStar
The advantages for small businesses using the OptBlue program are numerous. Several follow.
1. Capture new customers and/or clients – most small businesses with low Amex volume do not take the card as before OptBlue retailers had to negotiate directly with American Express. A large number of businesses declined to accept AMEX as the fees before OptBlue were too high. With OptBlue, AMEX fees are more closely aligned with the other credit card companies.
2. OptBlue is convenient – when you enroll in OptBlue, all your credit card activity comes on a single monthly statement from and not one statement for VISA, MasterCard, and Discover and another statement for AMEX. In addition, your payment is included with all your other credit card payments so you can more accurately estimate your cash flow. Also, you only have one contract for merchant services which means one contact point for all your merchant service needs.
3. Lower your operating costs – if you accepted American Express before the creation of OptBlue, it is likely that your current AMEX rate is higher than through OptBlue. Speak with AppStar to make the switch and start saving money.
4. American Express uses free advanced advertising strategies that drive customers to small businesses. These include,
· Television Advertising
· Online Advertising
· Special events for small local businesses
· Shop Small App – used in 2014 by AMEX members searching for small local shops more than 6 million times.
What You Need To Know
· Eligibility is for most merchants with less than $1 million in annual AMEX volume
· Three rates and tiers– a sale less than $150 gets the lowest rate, $150.01 to $3,000 is at the next highest rate, and sales over $3,000 are charged at the highest rate. Remember, these rates are set by your merchant service vendor and not AMEX. They should be in line with your fees for other brands of cards.
A missed sale is a missed opportunity for your brand and business. Start your OptBlue account now, and make more customers welcome.
About Appstar Financial
Founded in 2002, Appstar Financial distinguishes itself from its competition by their devotion to always providing their merchant clientele with the best payment processing programs and solutions tailored to meet the exigencies of their business.
(858) 712-0150 or firstname.lastname@example.org 4619 Viewridge Avenue, Suite C San Diego, CA 92123