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 AppStar Financial have access to a new American
Express Merchant Services program called OptBlue. Under the program, AppStar
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 AppStar 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 fromAppStar 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
comments@appstar.net 4619 Viewridge Avenue, Suite C San Diego, CA
92123