They run a credit report on you. All that sort of information is available in your credit history. I have GoPayment which is from Intuit and works on smartphones (I use a DroidX). I opened my mobile merchant account in April. I had to have an established bonafide business to open the merchant account. They do check credit, and business license verification. They sent the card reader at no cost, once I was approved. No fees except the per transaction fee.
In July I requested a rate reduction (the cost of the per transaction fee was lowered to 2.55% from 2.70%) and it was approved. So far I have been very pleased with GoPayment.
It should be noted however, (at least with GoPayment) accepting American Express, and any other credit cards that have a built-in rewards feature to them, cost more to accept, rate was 3.70% now 3.55%. I do accept them all regardless. |
