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Frequently Asked Questions

Frequently Asked Questions

Merchant Services Questions
Merchant Services Questions

At Betterpay, we have simplified the payment industry by creating a better merchant experience. We are committed to delivering better services through technology, pricing, and support. As we believe the future of payments is a world where merchants only pay the actual cost to process credit cards.

Retail, restaurant, mobile, e-Commerce, medical, legal, accounting, professional services, hospitality and more.

Our simple online application takes only 5 minutes to complete. The approval process is usually within 24 hours. Once you are approved a Betterpay merchant account specialist will contact you to go over your equipment and account details

We can reprogram your existing terminal for Free, or you can select from our selection of retail, mobile and POS solutions.

For retail and countertop credit card machines
1. Poynt Smart Terminal
2. Verifone VX 520 Terminal
3 Dejavoo Z8 and Z11 Tri-Comm Terminal

For mobile and wireless payment
1. Swipe Simple Eclipse A200
2. Swipe Simple Swift B200
3. Swipe Simple Swift B250
For point of sale solutions

1. Verifone Carbon 5 POS
2. Verifone Carbon 8 POS
3. Verifone Carbon 10 POS

Simple, if you are a new business accepting credit cards or currently processing less than $10k a month you should select the Basic Plan

If your business is currently processing up to $25k a month and conducts lots of transaction, the Standard plan will help you save.

The premium plan works for all business who want the highest level of savings. Unlimited monthly processing volume and the lowest transaction rates to help you increase your profit margins. Also, all merchants receive a free Poynt Smart terminal placement.

If you select the Basic plan, we offer a Free VX-520 counter terminal. Basic Plan members will also have the option to upgrade to the Mobile Swipe Simple reader for $24.95 a month. Both Basic and Standard merchants will also have the opportunity to upgrade to the Poynt Smart terminal for an additional $49.95 a month. Premium members enjoy the Poynt smart terminal at no additional cost.

No, You can cancel at anytime without penalty.

You will receive monthly statements and access to real time reporting on all your transactions immidiatly when your account is set up.

Every time a customer uses their credit card, the merchant must pay a small percentage of the transaction to the card brand (Visa, MasterCard, Discover, Amex,). This fee is known as interchange which is the true cost of processing. Unfortunately, many processing companies attach their rates on the true cost. Many merchants are unaware that they are paying an unnecessary markup. At Betterpay, we never profit from rates that's why we introduced 0% markup, meaning our merchants never pay more than the true cost to process credit cards.

  1. A business checking account
  2. A voided check with legal business name
  3. Tax ID Number

If your currently accepting payments a merchant statement will speed up your approval process.

Funds are typically* deposited into your business account within 24 hours.

Yes. we work with all major shopping carts to accept secure payments on your website. We can also integrate your existing account or set a new one up.

Yes, We understand businesses are design to grow and fluctuate, so we give you the freedom to switch plans at any time.

If a merchant processes more than their plan limit, the merchants account will be moved up to the appropriate plan (based on there sales volume).

Savings amounts are unique to each merchant based on their processing volume and transactions. However, based on our study, our merchants save an average of 47% compared to traditional processors.

We still believe in picking up the phone and helping merchants with questions and concerns. We offer phone, live chat and email support when your business needs it. (877) 423-8637 - Info@btrpay.com

Cash Discount Questions
Cash Discount Questions

Betterpay's Cash Discount Program allows merchants to eliminate 100% of their processing fees by incentivizing shoppers & clients to pay with cash, for a discount. Customers who opt to pay via credit cards will typically pay a 4% line item on their receipt.

Most merchants see an increase in cash sales due to the program. For merchants who process small items such as car washes and dry cleaners; notice that the cash discount fee is almost unnoticeable as a $10 item or service will only carry a .40 cent line item. In recent studies, 99.2% of the time, the cash discount program was not an issue at the point-of-sale and had zero impact on sales. The Betterpay Cash Discount Program will always allow you to remove the non-cash adjustment line item for any customer. You will also have the option to switch back to traditional processing or Join our 0% Markup Program if you decide the Cash Discount program does not work for your business.

As of January 27, 2013 several Card industry changes went into effect with regards to the credit card company’s federal class action litigation settlement. This change allows merchants to “offer a cash discounts to customers and clients who pay with payment forms less expensive than traditional Bank Debit cards.

In order to be legally compliant and registered

1. Betterpay will provide a clear signage which is required by law to be displayed at the business entry point and at the point-of-sale to easily and accurately explain the Cash Discount Program. If a customer or client chooses to pay with cash or check the service charge is discounted and the line item will not be applied.

2. The line item fee or discounted amount must be present on any generated receipts from the transaction.

There are multiple credit card terminals and POS systems that work with Betterpay's Cash Discount Program including the Deja Vu Z8, Z11. For an additional $49.95 a month you can receive a Poynt Smart Terminal placement.

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Betterpay is a registered ISO/FSP of Woodforest National Bank in Houston, TX - Member FDIC and a registered ISO of Wells Fargo Bank, NA. Canadian Branch.


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