We know that our gym owners often have questions about merchant processing -- how it works, when money is deposited, and where sensitive information is stored. We don't want there to be any confusion about the process, so we sat down with Roberta from GoEmerchant, our merchant processing partner in the US, to answer your questions.
We partnered with GoEmerchant for a number of reasons. One of the biggest is that they're local. This has allowed us to build a personal relationship with them, ensuring our customers are getting the very best services and rates possible. They understand our business model as well as yours, which also allows them to provide an unparalleled level of support to our customers. And we like people who take care of our customers!
Watch the below videos for the answers to your merchant processing questions.
Understanding the Merchant Process
- What companies are involved in merchant processing?
- Can I get one monthly statement for all fees and deposits from GoEmerchant?
- When will the funds be deposited into my account?
- Why do I see different processing rates from other merchant companies?
- Why can't all Wodify customers having the same GoEmerchant rates?
Understanding Merchant Processing Terminology
- Can you explain some of the terms used in merchant processing?
- What is the difference between qualified and non-qualified transactions?
- What is the highest ticket value and how is it determined?
Understanding Merchant Processing Fees
- What are the different fees associated with merchant processing?
- What are the fees associated with refunding a transaction?
- Why is there a percentage and a transaction fee to run an invoice?
- Does the amount of the invoice change the price of the transaction fees?
- What are the different rates for each kind of credit card?
- What is the best payment method to encourage athletes to use?
- Are there merchant fees associated with paying cash?