Infusionsoft released their merchant facilities this week for all Infusionsoft customers. This program is one more reason to love and use Infusionsoft.
The application process takes no more than a few minutes as opposed to most merchant account applications that are very complicated, have several pages and take a considerable amount of time to complete.
The account is setup and approved within 10 minutes. It took me about 5 minutes from start of application for it to be activated in my account.
The account works phenomenally and has several advantages to traditional merchant accounts:
- There are no monthly service charges.
- There are no hidden charges. Everything is transparent. 2.9% plus .30 per transaction regardless of size of transaction or type of card used. Yes, there is no additional fees for American Express.
- The cards currently accepted are Visa, Mastercard, Discover and American Express.
- There are no hold backs.
- You decide on how often the account is settled. You can have the money in your account within 2 days.
- It currently only processes charges in American Dollars.
- There are plans for a card reader in the near future for remote/scanned transactions.
- It does only work with Infusionsoft generated transactions.
- This is another example of a way for a small business to consolidate their functions and eliminate redundant charges for services.