Contract Terms Will Vary
Detailed information on Strategic Merchant Solutions’ rates or pricing structure is limited. The company, a reseller for Total Merchant Services, might adjust its rates based on the offerings from North American Bancard, Harbortouch, and Authorize.Net. For different industries, it provides varied qualified rates, as seen in the pricing schedule on its website. The specifics of transaction fees for these rates are not explicitly listed, and merchants may be subject to mid-qualified or non-qualified rates if they do not meet the criteria for qualified rates.
Since Strategic Merchant Solutions partners with Elavon, reviewing Elavon’s pricing models, which include a swipe rate of 2.65% + $0.19 and a keyed rate of 3.50% + $0.19, may offer insights into potential costs. Strategic Merchant Solutions may modify Elavon’s contract terms, potentially offering rates more favorable than Elavon’s standard charges.
The absence of early termination fees by Strategic Merchant Solutions differentiates it from Elavon, which has received criticism for such fees. However, the company does charge a $10 monthly statement fee, a $15 annual membership fee, and a $20 account maintenance fee per instance. It remains ambiguous if a PCI compliance fee is part of their contract.
Long-Term Equipment Leases From Ladco
Strategic Merchant Solutions engages Ladco Global Leasing Solutions for its equipment leases, which are typically expensive, 48-month agreements that could cost significantly more than the equipment’s value.
Virtual Terminal and Payment Gateway Pricing
Strategic Merchant Solutions provides virtual terminal and payment gateway services, starting its e-commerce transaction rates at 2.05%. The website mentions a payment gateway license fee of up to $99 and a monthly gateway fee of up to $25. Other fees, such as technical support, batch fees, and additional transaction charges, may also apply to their e-commerce solutions.
Level 2 and Level 3 Processing Services
Strategic Merchant Solutions offers Level 2 and Level 3 processing services for B2B and B2G transactions, which require more advanced payment processing technology to handle the additional data needed for these types of transactions.
An “A” Overall
Without disclosing its mid and non-qualified rates, Strategic Merchant Solutions provides a pricing schedule that offers some insight into potential contract costs. The company’s policy against early termination fees and its relatively open pricing policy contribute to an “A” rating in this category.
For more options, merchants are advised to explore our selection of thetop merchant account providers.
