Frequently Asked Questions

FSMA is not a singular provider and you don’t have to leave your current provider to save. We help businesses find the most suitable payment processing solutions by evaluating their needs, negotiating rates, and facilitating the setup of merchant accounts.

FSMA has the benefit of working with a wide range of businesses, including retail stores, e-commerce platforms, restaurants, gyms/exercise studios, service providers, and more. Essentially, any business that accepts card payments can leverage our expertise to find suitable solutions, negotiate rates, and streamline payment processes.

Look for a processor with a strong reputation, transparent fee structures, expertise in your industry, the ability to provide multiple customized solutions, good customer support, and a commitment to security and compliance with industry standards like PCI DSS.

Credit card processing fees typically include interchange fees, processor charges, and possibly additional fees depending on the broker and chosen payment processor. Interchange fees are set by card networks, while processors may charge a percentage of the transaction or a nominal flat fee.

We will provide you a transparent breakdown of these fees. The total cost will depend on factors like solution type, transaction volume, business type, and the processor’s negotiated rates.

The Payment Card Industry Data Security Standard (PCI DSS) is used when it comes to credit card processing. We make sure any processor we suggest prioritizes security and adheres to PCI DSS guidelines. Common security measures include encryption to safeguard cardholder information and tokenization to replace sensitive data with unique tokens. These measures collectively ensure the secure processing of transactions and the safety of your customers’ data.

Not necessarily. This will depend on how much you want to save. Five Star Merchant Advocates believes in personalized solutions, steering clear of the one-size-fits-all approach. We take the time to understand your business needs, do the research for the best program, and implement for immediate and long-term savings. Some of these solutions may upgrade your equipment.

Setup times vary but can generally be completed efficiently. The duration depends on factors such as business type, required features, and the specific processes of the chosen payment processor.

There are a couple of reasons for this. Processors employ various pricing models such as flat rates, interchange plus, and tiered structures. Each has its nuances:

Flat rate: Users receive a fixed percentage and transaction fee for all transactions (e.g., 2.7% and $0.15 per transaction). This model is straightforward and predictable.

Interchange plus (cost plus): Users pay a fixed markup on wholesale costs (e.g., 0.3%, or 30 basis points, on all wholesale costs). This is the most transparent, assuming no hidden fees.

Tiered: Users encounter different rates for different cards and transaction methods. While common, it’s intricate and requires expertise to optimize for business benefit. The diversity in pricing methods contributes to the difficulty in making comparisons because it’s not always evident which one a processor is using.

In addition, many processors either fail to explain or obscure certain fees, a prevalent issue in the payment industry. Therefore, finding a processor you trust becomes crucial in navigating this complexity and is why we recommend working with a trusted broker like Five Star Merchant Advocates.

Yes, credit card processing brokers offer customization options to tailor solutions to the unique needs of your business, ensuring the payment processing system aligns with your operations. This is why it is important to seek out a broker who can offer multiple, customizable solutions for your business.

A Cash Discount Program can save small businesses thousands of dollars a year. This Program charges customers a convenience fee when they use a card. If they do not want to pay the fee, they can always pay with cash instead. Processing fees may seem like a small expense, but they add up over time. A small business owner has plenty of overhead and needs to keep their revenue flowing.

When working with us, you can expect responsive customer support services, with assistance available for setup, ongoing operation, and issue resolution.

Compatibility with existing POS systems is a common feature of certain solutions. As your credit card processing broker, we will ensure smooth integration with various POS systems whether it is your current system or a new one.

American Express (AMEX) sets their own rates based on region, industry and volume. AMEX also only reveals their rates directly to merchants via the phone. Businesses that have very little in credit card sales would pay a monthly fee. Higher volume merchants will be charged a flat rate or a rate and flat fee.

Contract terms and cancellation fees vary. It’s crucial to review the terms before entering an agreement to understand any commitments and potential costs.

Credit card processors have procedures in place to handle chargebacks, including providing documentation to support transactions and assisting in resolving disputes with card issuers.

Expect access to reporting and analytics tools that provide insights into transaction data, helping you track sales, identify trends, and make informed business decisions.

To comply with PCI DSS, we implement measures to ensure all solutions adhere to PCI DSS compliance. Additionally, businesses should follow recommended practices, such as securely storing and transmitting cardholder data.

Yes, many credit card processing solutions support international payments. Costs vary, including potential currency conversion fees and international transaction fees.

Your credit card processor will provide support for technical issues or downtime. Your business will have access to clear communication channels to report issues promptly and receive timely assistance.

Five Star Merchant Advocates shares in the savings we can deliver on a monthly basis. If there are no savings, our team does not get compensated.

All you need to do is submit your processing statement and one of our experts will reach out within 1-2 business days in regards to the findings. We typically find savings and hidden fees on 96% of the statements we look at.

Absolutely. The majority of our clients are under contract with their existing processing company when they hire us. We can still find ways to drive down your costs while working within the current contract.

Yes, whether you have an integrated software or not, we can still help reduce your credit card processing fees without having to change anything.

If there are no savings found then our team is not owed anything. You are right back to where you were before speaking with us, but with the peace of mind that you are on a good plan.