Explore your Credit Card processing option

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Orumfy offers the innovative solutions!

Orumfy offers the innovative solutions!

Our Meet-or-Beat Guarantee

If we can’t match your current deal, or offer you an even better one – we’ll give you $100,
no questions asked

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Credit Cards

Credit Cards have become one of the most common forms of payments consumers use today.

Overview

Overview

Credit Cards have become one of the most common forms of payments consumers use today.

Most businesses accept credit cards today in order to grow their sales, improve cash flow, generate more customers which in turn will spend more.

Customers tend to spend 12% to 18% more when using credit cards than with other payment methods.

People are carrying less and less cash these days. The plastic they carry in their wallets gives them more purchasing power. If you are a business owner who still doesn’t accept credit cards, it’s time to reconsider.

For those of you who are accepting credit cards, choosing the right processor is key, to ensure you are keeping most of the profits from your sales by keeping your credit card processing fees to a minimum.

Orumfy in an innovator in the field of credit card processing. We offer our clients unparalleled customer service, lowest rates and cheapest credit card processing fees.

Advantages of accepting Credit Cards with Orumfy

Advantages of accepting Credit Cards with Orumfy

  1. Accepted payments with credit cards don’t bounce the way checks can, and there’s no need to make separate trips to the bank to deposit your earnings.
  2. Orumfy enables you to make the most of the advantages credit card processing offers to your business. Our commitment to transparency gives you the peace of mind, knowing you made the right choice.
  3. Orumfy stands behind our “Meet-Or-Beat” guarantee, as we are fully committed to offering the cheapest credit card processing fees in the market.

If we can’t match your current deal, or offer you an even better one – we’ll give you $100, no questions asked

That’s not just a catchy sales pitch. Orumfy truly stands behind that statement.

We are so committed to building long lasting relationships with our clients, we will do whatever is necessary to make sure you are never overcharged by paying higher credit card processing fees.

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Improve cash flow
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Mobile friendly terminals
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Credit cards encourage impulse buying
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Increase sales
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Customer convenience
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Crucial if you do business online
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Helps level the playing field with your competition
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Generate more customers
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Eliminates the risk of accepting a bad check

Options for Credit Card Processing

Options for Credit Card Processing

When choosing the best method for accepting credit cards make sure to evaluate your business needs while keeping in mind your customer’s experience.

As you choose between Traditional Credit Card Processing and No Fees Credit Card processing with Orumfy (also known as Credit Surcharge or Cash Discount credit card processing) consider the number of transactions you typically process, where you make the largest number of sales, whether or not you will need mobile processing, and if you already do or plan on engaging in e-commerce.

Traditional Credit Card Processing VS Credit Surcharge (Cash Discount) Credit Card Processing

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Choosing the Best Credit Card Processor

Choosing the Best Credit Card Processor

A Credit Card Processor can be classified as one of the following types:

Processing credit cards online or via mobile payments is called gateway processing. The credit card processor transfers the funds into your bank account minus credit card processing fees.

Bank accounts that are dedicated to processing credit card transactions before depositing money into your bank account are called merchant accounts.

When deciding on which type of credit card processor best suits your needs, consider the size of your business, what kind of transactions make up the majority of your sales, and whether or not you either are or want to engage in e-commerce.

Having the right type of terminal and customer support is crucial to maximizing the advantages credit card processing has to offer to both you and your customers.

If you are a brick and mortar business with an e-commerce website, select a credit card processor with cross-compatible credit card processing option.

Research each credit card processor to find the right fit for your business and customer base.

Compare rates, credit card processing fees and features, including which major credit cards you can process.

Choosing a reliable, transparent, low cost credit card processing option that integrates with E-Commerce solutions and while maintaining the highest level of security helps your customer and your business achieve desired customer satisfaction while keeping your operating cost down.

Orumfy offers state of the art equipment, that is user friendly, with continuously updated software and security features, with the absolutely lowest rates in the nation.

4 Factors to Consider When Choosing a Credit Card Processor

4 Factors to Consider When Choosing a Credit Card Processor

Picking a credit card processor, after comparing all the various options, credit card processing fees, as well as technology behind can seem like a daunting task.

Keep in mind these 4 Factors we list below, when choosing a credit card processor.

The credit card processing fees most businesses have to pay, can negatively affect your bottom line.

These are some of the standard fees a typical credit card processor charges (Comparison chart)

You need to make sure that the provider you choose will not only work with universal software, especially for e-commerce enabled businesses, but also works with software compatible with your online shopping cart.

Consider choosing a processor with an option to accept digital wallet payments as more and more people make payments using their smartphones.

Interchange Rate is only applicable to Traditional Credit Card Processing.

Processors which strive for Transparency offer “Interchange-Plus” Pricing models, vs “Tiered”.

  1. Fees, Fees, Fees
    • Application fees: You will have to pay a fee for them to process your application. NOT WITH orumfy
    • Setup fees: Some processors charge fees to set up their equipment. NOT WITH ORUMFY
    • Monthly statement fees: There may be a typical charge for the processor to mail you the statement. NOT WITH ORUMFY
    • Monthly gateway access fees: You can be charged for the data transaction between the issuing bank and the payment processor. NOT WITH ORUMFY
    • Monthly minimum fee: The credit card processor will collect a minimum amount of fees from your business even during the slow sales season. NOT WITH ORUMFY
  2. How Compatible is the Processor's Proprietary Software?
  3. “Interchange-Plus” vs “Tiered” pricing models
  4. Interchange-Plus

    Interchange-Plus offers full transparency to customers, in regards to what credit card processing company charges as its credit card processing fees and what their actual costs are.

    This type of pricing allows you to know their costs and your expenses, to make sure you are not being overcharged.

    Tiered pricing model

Orumfy does NOT recommend this pricing model to our customers, unless clients ask for it.

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Orumfy does NOT recommend this pricing model to our customers, unless clients ask for it.

Tiered pricing model unfortunately is still the most commonly offered option to businesses by processing companies.

Tiered pricing, basically groups all processing rates into 3 basic tiers

Which Tier any given transaction will fall under depends on a number of factors, predetermined by the processing company.

These factors include, but are not limited to, credit-cards-present vs credit-cards-not-present, whether the transaction is old or new, or whether or not sale took place over the phone or internet,what type of credit card was used during the transaction.

Credit Cards with AirMiles or Credit Cards with Cash Back Bonuses also play a role in determining which tier a transaction will fall under.

What this means for an average business owner however, is that it becomes impossible to predict how much in credit card processing fees you will have to pay for an individual transaction.

Tiered pricing also leads to shady business marketing practices, where the credit card processor will advertise the lowest possible rate (ex: Qualified), but most of the transactions will NOT actually fall under the Qualified tier, and will process at a much higher rate.

  • Early Contract Termination Penalty

However most other processors charge either a “Flat-Fee” or “Liquidated-Damages-Fee” for early contract termination.

Flat Fee

A “Flat-Fee” early termination penalty is the predetermined amount your credit card processor will charge, for cancelling your contract or changing your processors prior to the contract expiration date.

Liquidated Damages Fee

“Liquidated-Damages-Fee” can be quite expensive, especially if you cancel early in your contract.This early cancellation fee will be equal to what your credit card processor will determine it will lose in potential revenue due to early account closure.

For example, if you are in a 4 year contract, and cancel in 2 years, you will still be liable for the remaining two years worth of credit card processing fees.

Orumfy does NOT have any early termination fees