WINNER #1 AND #2 HAVE BEEN CHOSEN! TWO FREE $25 gift cards from METROSHOT!

[hk-p2000]

Do I get extra points if I tell the rookies what an EBR is?

why not go ahead. what's EBR.

[WilsonCQB]

Enjoy this hot, steaming cup of EBR.

[Diablo]

EBR...Evil Black Rifle...

[Jeffrock]

Second winner has been chosen: Congrats to gnehzekul!

PM will be inbound after I walk my dogs.

Thanks everyone. I hope you all have a Merry Christmas, Happy Holidays and a Great New Year!

[stator]

I would have to say that 1st Financial Merchant Group, being a subsidary of JP Morgan Chase, would not have low rates. I would expect high gateway and tranactions fees, and a high discount rate. I also believe that going through Costco would beat anything from JP Morgan Chase with the exception of a few industries such as grocery.

[TacFan]

I would have to say that 1st Financial Merchant Group, being a subsidary of JP Morgan Chase, would not have low rates. I would expect high gateway and tranactions fees, and a high discount rate. I also believe that going through Costco would beat anything from JP Morgan Chase with the exception of a few industries such as grocery.

This is considered thread crapping.

[yzErnie]

I would have to say that 1st Financial Merchant Group, being a subsidary of JP Morgan Chase, would not have low rates. I would expect high gateway and tranactions fees, and a high discount rate. I also believe that going through Costco would beat anything from JP Morgan Chase with the exception of a few industries such as grocery.

WOW...the guy just gave out $50 worth of free stuff and someone talks crap like this??? WTF???

[Jeffrock]

I would have to say that 1st Financial Merchant Group, being a subsidary of JP Morgan Chase, would not have low rates. I would expect high gateway and tranactions fees, and a high discount rate. I also believe that going through Costco would beat anything from JP Morgan Chase with the exception of a few industries such as grocery.

If only you had a clue about anything.... We do not write people up at discount rates, we are strictly interchange pass through. If you are on a discount rate, you are being ripped off, plain and simple. Ask Pat what he thinks about Nova (aka costco).

We are not a subsidiary of JP Morgan. We are an ISO who processes through Chase Paymentech. Shoot me a pm if you would actually like to learn about this industry instead of talking out of your ***.

ps. gateway fees? lol, u must really be getting screwed. what else are you getting charged, or charging if you are in the business? batch fees? header fees? Service fees? authorization fees? settlement fees? None of those here. we work on 30 basis points above cost profit, unlike nova, card services, merchant services who average around 80 basis points profit.

Lets put it this way, I have seen hundreds of Costco statements and ALWAYS been able to save merchants substantial fees. In fact, one of the only processors who I have seen with decent rates is Heartland.

[Jeffrock]

Due to the fact that my industry is plagued with liars and scumbags, I feel the need to further clarify processing and "discount rates."

Basically, most processors set up people on a three-tier program. They have a discount rate, which looks attractive, maybe at 1.5%, the a mid-qual tier at 2.3% or whatever, and a non-qual tier at 3% or thereabouts.

So, processors will tell you "We will set you up at 1.5%" however when the bill comes, only a fraction of the transactions will qualify for this discount rate, whereas a good portion will end up in mid-qual and non-qual. Basically the processors are able to throw transactions into whatever tier they want, at their discretion.

The funny thing is even those qualified 1.5% rates are a joke, because usually processors will throw debitcard (aka check card) transactions in there, when those should be getting rebates, due to the smaller chance of risk. Those should technically be at 1.03% or thereabouts.

My company does not charge people this way. We use interchange, meaning Visa and MC give processors suggestions of what they should charge for the many different cards out there (corp, debit, commercial, etc.). Some rates are 1.0%, some are 1.54%, some are 2%. We basically charge whatever interchange is plus a profit of 30 basis points.

We do not make up qualified rates, midqual, nonqual, etc. or ridiculous transaction fees.

I am still laughing at Costco having the lowest rates. stator, your ignorance shows that you are either a merchant being fed a line by your processor, or you are a salesman for Card Services/First Data/Merchant Services/RBSlynk. So, which one is it?

[hk-p2000]

Hey Jeffrock don't worry about what his talking. he's hurt cause he didn't WON.

or maybe he will be giving 4 gift card worth $50.00 each

[gn3hz3ku1*]

I would have to say that 1st Financial Merchant Group, being a subsidary of JP Morgan Chase, would not have low rates. I would expect high gateway and tranactions fees, and a high discount rate. I also believe that going through Costco would beat anything from JP Morgan Chase with the exception of a few industries such as grocery.

well i won and here is my take on it.... all Jeffrock asked for was a comment on EBR, and a little plug about his company. i didnt give him anything other than a comment on ebr and i won 25 dollars. why the attack on his company? how do you know about these fees? btw i also have a costco membership card and they are not the cheapest for everything....

i guess this is the internet and you can say anything, but as a fellow senior member ( so both of us have been on calguns for some time) i would have to say thread crapping on a guy who didnt do anything to you or say anything against you sucks. you can have my gift card if it will make you trust jeffrock wasnt just BSing...

Jeffrock if he PMs you before you mail out the gift cards. please just send mine to him...

thanks for supporting the gun community!

[SFV_Dealer]

Jeff,

I have to say as a firearms dealer since 1993 you have come to rescue!
Our old card processor had fees were costing our business a lot of money!
Jeff's great service allows us to keep that money in the store and make improvements that our customers love:
- Increased inventory - newest items to stock now: Magpul, M261 22LR rifles, Robinson XCR rifles, SIG 556, HK MP5 clones, VLTOR, Daniel Defense, LCW Duracoat, etc..
- New glass cases w/ showcase racks & displays so that customers can see what we have in stock without having to dig for it!
- 36" LCD widescreen TV to watch HD sports, movies and special shows just for our customers.
- Upgraded POS (point of sale) terminals that can take now: American Express and Metroshot Gift Cards in addition to Visa, Mastercard & Discover which we have taken for years.

Now tell me that my old processor: NOVA (aka Costco Executive membership) can do all that ? Did they ever wonder if my increased business deserves a lower rate ? NOPE - they don't say a thing because they are the ones raking it in.

Jeff you ROCK !

Pat @ Metroshot!

BTW: IF Stator is an actual merchant, you need to send your card processor monthly statements to Jeff to find out the "truth" in business...

[gn3hz3ku1*]

pat I can't believe u wrote this xmas morning..... ur the one who prob got the most toys to play with well maybe wes has a good amnt too