VizyPay

What are the estimated savings of processing fees according to the traditional program?

10-15%

Traditional Program payment structure

10-15% savings for a monthly fee of $15.00. The surcharge is .35%+ .10 per transaction.

What are the estimated savings of processing fees according to the cash discount program?

100%

What has shaped Austin Mac Nab's business approach of revolutionizing the payment industry?

14 years of experience in the bankcard industry

What are the estimated savings of processing fees according to the Hybrid program?

40-60%

What is VizyPay?

A company that is revolutionizing the payment processing industry by offering a transparent credit card processing model that focuses on powerful payments solutions.

surcharge

A surcharge is a fee imposed upon the customer during a credit card transaction that covers the cost to accept the payment method. The POS system or terminal automatically detects when a customer is paying with a credit card and imposes the surcharge on that transaction type only.

VizyPOS Merchant Portal

Built for function and ease of use. Access to inventory management, real time updates into the app, and in-depth reporting.

VizyPay, ISO

By definition, VizyPay must be an ISO in order to sell credit card processing services. It does this well through its three optional programs that are: cash discount, traditional, and hybrid.

What is the largest type of instore payment options and why?

By far, the largest instore payment option by type is credit cards due to the fact that we are entering into a digital age of financial technology.

What is the difference between Cash discount and Traditional?

Cash discount offsets 100% of the processing fees while the traditional program sets a flat rate capped margin that is .55% and $.15 above the interchange. The latter gives you the ability to make the executive decision of what you want to set the price of goods without embedding transaction fees while still saving money utilizing the flat rate capped margin that is .55% and $0.15.

List the details of pricing per monthly occurrence according to the cash discount program of Vizypay's processing fees that is based on its proprietary technology: Interchange + Margins

Interchange Costs None Card Assessment Costs None AVS Cost (for keyed sales) $0.05/instance Retrieval Cost $25/instance Chargeback Cost $25/instance Voice Authorization Cost $2.00/instance Closure Cost $50/instance ACH Reject Cost $30/instance Wireless Service Cost (if applicable) $17/month Clover Go Mobile (if applicable) $10/month PCI Non Compliance (if applicable) $19.95/month

What are the two types of payment process pricing models that are used?

Interchange plus pricing and flat-rate pricing.

What does VizyPay provide its customers

It helps save business owners money and the hassle of wondering what hidden fees credit card companies are charging.

Describe the Flat-rate pricing model-

Flat-rate pricing offers a set rate, based on the transaction type (card-present, online or keyed), to cover interchange fees, assessment fees and the processor's services.

Hybrid Program pricing structure

For debit cards, the owner pays 1.5% plus a .25 per transaction. For credit cards, the customer pays a 4% transaction fee. This is offered at a monthly price of $25.00

What are the specifics of the traditional program?

For the traditional program, the Interchange-plus pricing works by adding a constant, flat margin on top of interchange. We ensure our traditional program is simple, transparent, and fair by capping our margins at 0.55% and $0.15 per transaction above interchange - meaning you'll know exactly how much money was paid to the card-issuing banks, how much went to the card associations, and how much went to VizyPay.

Name the three types of credit card processing programs that a merchant can signup for

Hybrid, Traditional, and Cash Discount.

Cash discount program distinctive:

If you are tired of an unpredictable processing bill every month, want to completely eliminate your processing fees, do not want to be locked into a long-term commitment, and need customer support that is efficient and fast; this program is perfect for your business.

How did VizyPay generally enter into the purchasing industry?

In 2019, a major player in the payments processing industry announced that they are changing their well known 2.75% annual flat rate fee. Because small business owners cannot survive the unpredictable changes due to their complexity, a business opportunity became present for Vizypay, allowing them to set out to uncover the complex fees.

List the details of the monthly prices that VizyPay set's for its Hybrid program for the processing fees:

Monthly Cost $25/month Credit Transactions Paid by Customer Debit Transactions 1.5% + $0.25/transaction AVS Cost (for keyed sales) $0.05/transaction Batch Cost Zero Retrieval Cost $25/instance Chargeback Cost $25/instance Voice Authorization Cost $2.00/authorization Closure Cost $50.00/location PCI Non Compliance (if applicable) $19.95/month ACH Reject Cost $30/instance Wireless Service Cost (if applicable) $17/month Mid & Non Qualified (Debit only) 2.5%, 3.5%

List the details of pricing per monthly occurrence according to the traditional program of Vizypay's processing fees that is based on its proprietary technology:

Monthly Costs $15/month Interchange + Margins 0.35% + $0.10/authorization Interchange Costs Passed-through at cost Card Assessment Costs Passed-through at cost AVS Cost (for keyed sales) $0.05/transaction Batch Cost $0.10/batch Retrieval Cost $25/instance Chargeback Cost $25/instance Voice Authorization Cost $2.00/instance Closure Cost $50.00/location Pin Debit Costs (if applicable) Passed-through at cost ($48/year) ACH Reject Cost $30/instance Wireless Service Cost (if applicable) $17/month Clover Go Mobile (if applicable) $10/month PCI Non Compliance (if applicable)

Pax A60

The A60 is a sleek and compact SmartMobile PIN pad that delivers the highest level of payment security and transactional integrity. With an elegant and lightweight design, the A60 supports both short and wide range wireless communication options. This offers the flexibility to operate it either as a powerful standalone Mobile PIN pad or an in-store cordless terminal, supported by an intelligent printer base with auto-cutter.

What is VizyPay known for?

Uncovering hidden fees that credit card companies embed into the proccessing transaction.

POS costs

Point-of-sale (POS) system costs typically fall into three categories, software costs, hardware costs and card processing costs. POS software can have a one-time purchase cost, monthly subscription fees or be free to use. Hardware costs are typically one-time expenses for mobile card readers, store register systems and other payment equipment. Card processing costs are ongoing fees charged each time you process a credit or debit card.

Cash Discount Program-

The Cash Discount Program helps businesses build the cost to process cards into their pricing, allowing them to maintain the same profit margin on every sale regardless of payment type. When a customer pays with a card, our technology automatically isolates the processing fee included in the price and applies it to the merchant's processing cost. Business owners can offset up to 100% (this is the cash discount program) of their processing fees and never have to worry about an unpredictable monthly statement while operating within card network guidelines. The program is fully automated, allowing your POS system to handle the work, so you don't have to.

Explain the mechanics of the cash discount program (find the other flashcard that has this info and combine):

The Cash Discount Program helps businesses build the cost to process cards into their pricing, allowing them to maintain the same profit margin on every sale regardless of payment type. When a customer pays with a card, our technology automatically isolates the processing fee included in the price and applies it to the merchant's processing cost. This process offsets the charge to the owner 100%

Simply put, who is the Hybrid program beneficial for?

The Hybrid program is great for businesses that don't want to include all processing fees into their menu pricing. They let the customer know the surcharge amount if they pay with a credit card, but also have the option to take on the surcharge if the customer uses debit.

What makes the hybrid program unique from the traditional and cash discount options?

The Hybrid program shares some of the costs to process the card transactions. A characteristic is that they let the customer know what the surcharge will be.

VizyPOS APP

The VizyPOS app helps merchants streamline and manage all aspects of the payments process. Merchants can upload their entire inventory of products or services and seamlessly manage them through the VizyPOS Portal, a supplementary website for the app. VizyPOS app is built for merchants looking for more flexibility and completely eliminates the need for cash registers and traditional payment terminals, ultimately reducing the monthly overhead cost

What is credit card processing?

The moment a customer inserts their credit card into your terminal, their credit card network, your bank and your credit card processor all communicate with each other in order to finalize the transaction. There are processing companies that work in the background to help facilitate those transactions who we call credit card processors.

Cash discount pricing structure

The monthly payment option is broken into three tiers: Mini for those owners who make under $5,000.00 per month pay $25.00. The core plan is for those owners who make anywhere from $5,000.00- $10,000.00. Their monthly fee is $50.00. The Prime tier structure is for those owners that make over 10k a month in sales. The set fee is $99.00.

Which pricing model does Vizypay operate on?

The traditional discount program uses both.

What makes the traditional program unique from the hybrid and cash discount options?

The traditional program is for those that want to completely avoid embedding processing fees into the pricing of their items while also maintaining transparency.

What pricing model does VizyPay's traditional program use and why?

The traditional program uses both a flat fee and capped margins (interchange plus pricing). Reason being is to ensure that owners do not embed processing fees into their items for sale while also ensuring that you as a business owner pays exactly what card providers charge.

What determines the monthly payment fee that VizyPay charges its customers?

The volume of purchases

In short, what makes the hybrid program unique?

They maintain the same price point for customers by passing on a charge for those that are paying via credit card (3.5% rate). For debit card swipes, the owner takes on a 1.5% processing fee + $0.25.

PAX A920

This SmartMobile delivers style and security to every payment experience. The A920 combines the features of an Android tablet with a compact terminal. Featuring a camera, high-speed printer, and powerful battery to meet the daily demands across all dynamic Retail or Hospitality environments. The A920 is the revolutionary terminal that started it all. A strikingly beautiful and ergonomically designed terminal, this SmartMobile delivers elegance, style, and security to every payment experience. The A920 combines the full features of an Android™ platform with a powerful payment terminal, all in a sleek and compact design. The A920 delivers an integrated camera, high-speed thermal printer, and high-capacity battery to meet the daily demands across all dynamic Retail or Hospitality environments.

PAXA80

Versatile enough to work as an indoor or outdoor countertop payment terminal. Combination of Wifi, Bluetooth and ethernet. 4 HD touch screen. Accepts EMV chip, swipe, QR, Apple, and Google payments. Powered by Android™,The A80 is a SmartDesktop payment terminal powered by Android™ that can be used as a countertop PIN pad or an indoor portable device. Packed with the latest PCI PTS 5.x, SRED, and NFC contactless certifications, A80 delivers the highest payment security and protects transaction privacy. Equipped with a built-in camera, high definition 4-inch touchscreen display, and multiple network connectivity options, A80 delivers the best user experience to the modern consumers

What does VizyPay do?

Vizy pay allows small business owners to process unlimited credit card transactions for as low as $25/ a month by way of uncovering hidden processing transaction fees through the use of its proprietary technology.

What is a processing fee?

a preset amount that a business pays every time a customer uses a credit or debit card to pay for goods and services. When a credit card is swiped, the card company digitally interacts with both the bank and Vizypay.

Dejavoo Z8

countertop credit card machine boasts several features that make it a convenient and flexible choice for your business. The terminal offers multiple connection options, a backlit LCD screen for high visibility viewing, a keypad, and a built-in printer. The small size makes the terminal convenient for environments that don't have a lot of space for a bulky credit card machine. EMV & PCI compliant. Compatible with Apple Pay, Samsung Pay, Google Wallet, Visa PayWave, and MasterCard PayPass.

What are three types of instore payment options?

credit cards, debit cards, cash.

What is a transaction fee?

the charge that is set for the communicative process to take place between the credit card company, the bank, and VizyPay.

Describe the interchange-plus pricing model

you pay the associated interchange rate plus a markup to cover other fees and the processor's services.