What is EPX processing?
EPX offers a complete processing solution in one platform that can process credit and debit card transactions securely and efficiently while helping to reduce merchants’ transaction costs.
What is the merchant settlement amount in multi-currency processing?
The Merchant Settlement Amount will equal the Purchase Amount in a Foreign Transaction. (mm) Multi - Currency Processing shall mean the processing of Foreign Transactions. The Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses.
Is electronic payment exchange a good company?
Complaints & Service: Electronic Payment Exchange has received fewer than 10 public complaints. BBB Rating: Electronic Payment Exchange has an “A+” and has received 5 complaints and 3 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 2016.
What is EPX and is it right for guestvision?
“EPX is a true end-to-end solution, which is ideal for a company such as GuestVision. EPX offers a complete processing solution in one platform that can process credit and debit card transactions securely and efficiently while helping to reduce merchants’ transaction costs.
What is an epx?
Founded in 1979, EPX is a full-service credit card, debit card, and electronic check (ACH) payment processor providing secure front-end and back-end payment solutions that utilize tokenization and encryption technologies.
When was EPX founded?
Founded in 1979 and focused on the nation’s largest merchants, EPX has built a portfolio that exceeds $18 Billion in annual processing volume. By operating as a fully integrated payment facilitator, EPX differentiates itself in the marketplace by providing real time interchange optimization and state of the art secure transaction solutions. The combination of these two companies gives EPX the sales, marketing, and customer support engine that has powered North American Bancard into its market leading position and enables NAB to leverage EPX’s product and skill set to pursue new and more complex market segments.
When did NABH acquire EPX?
EPX was acquired by NABH in 2014. The partnership with NABH enables EPX to tap into NABH’s market-leading sales, marketing and customer support. It also allows NABH to leverage EPX’s product offerings to pursue new and more complex market segments, including international markets.
Who owns the EPX platform?
Electronic Payment Exchange is branded as a North American Bancard company. According to an employee’s comment below this review, this means that EPX is a processing platform owned by North American Bancard, and that North American Bancard representatives board their merchants to the EPX platform.
What is an electronic payment exchange?
Electronic Payment Exchange is an international merchant account provider that serves a wide range of business types. Launched in 1979, the company also operated under the name of Phoenix Payment Systems before Phoenix’s assets were fully absorbed by EPX. Electronic Payment Exchange is branded as a North American Bancard company.
How long is a bancard contract?
North American Bancard’s standard contract has a service agreement of 36 months with what appears to be a Liquidated Damages Early Termination Fee that is automatically debited from a merchant’s checking account upon cancellation of service. Essentially, merchants who cancel service prior to the expiration of their contract will be expected to pay the remainder of any monthly fees that would have been assessed throughout the entire contract, with the minimum early termination fee costing $295. Due to this policy, merchants have reported cancellation fees totaling into the thousands of dollars. Additionally, merchants may also be subject to additional fees if they lease equipment and cancel early.
Does EPX offer pay as you go?
There are 2 commenters who have claimed that EPX does indeed offer identical contract terms and pricing to North American Bancard whose standard contract rate begins at 1.69% while offering a pay-as-you-go rate of 2.69%. Despite this, the company lists its rates as being as low as 0.29% on their website.
Does the Electronic Payment Exchange resell credit card services?
The company markets itself as an all-in-one direct processor, which would suggest that it does not resell the services of a larger credit card processor. However, it is also a subsidiary of North American Bancard, which means that it probably resells unmodified North American Bancard contracts.
Does Electronic Payment Exchange have a contract?
Costs & Contract: Electronic Payment Exchange appears to offer a multi-year contract through North American Bancard with a variable early termination fee.
Is Electronic Payment Exchange a reliable provider?
According to all available information, Electronic Payment Exchange rates as a reliable merchant services provider. There are very few specific details available about the company’s sales tactics, contract terms, and customer service, but we have interpreted the low total of complaints to be a positive indicator of its service quality. The company’s rating may be subject to change as more information comes to light. Due to the company’s close affiliation with North American Bancard, which is one of the worst-rated providers, merchants are advised to read their contract terms carefully.
What is pre-authorization of credit card?
Pre-authorizing payments is a common practice among enterprise businesses that involves putting a hold on a customer’s credit card equal to the amount of the purchase but not processing the payment until the order is shipped. This method offers protection against fraudulent activity by giving businesses and banks time to verify that orders are legitimate. Pre-authorization also makes it easier to handle orders in which products are delayed or become unavailable. Instead of processing the payment at the time of purchase and having to issue a refund if something goes wrong, a company can simply take the hold off the card and not complete the transaction.
What is integrated payment system?
An integrated payment system provides a platform with the power to handle a consistent stream of unique orders. Managing incoming purchase orders, issuing invoices and tracking customer accounts becomes easier when payment data flows freely from one end of the purchasing funnel to the other. Without a reliable platform, payments must be processed individually and entered into existing ERP systems, a labor-intensive process that slows productivity and delays order fulfillment.
Is EPX secure for B2B?
EPX provides that security, offering peace of mind to both companies and customers.
What is merchant statement?
Merchant Statement shall mean an itemized monthly statement of all charges and credits to the Operating Account.
What does authorization mean on a credit card?
Authorization shall mean an affirmative response by or on behalf of an Issuer, to a request to the Authorization Center to effect a Transaction, that a Transaction is within the Cardholder's available credit limit and that the Cardholder has not reported the Card lost or stolen. All Transactions require Authorization.
What does "issuer" mean in a card?
Issuer shall mean an Association member that issued a Card to a Cardholder.
Is EPX liable for a downgrade?
Any loss cause by either a Transaction downgrade resulting from defective or faulty hardware and/or software to the extent said software is owned by Merchant or a Transaction downgrade resulting from defective or faulty hardware and/or software owned by EPX for which EPX is liable under paragraph 16 of this agreement;
Can a merchant initiate a transaction credit without a balance in the operating account?
Initiate a Transaction credit without a balance in the Operating Account equal to the credit, unless Merchant is a participant in an approved Association program.;
Can merchants sell or exchange credit card information?
Prohibition of Furnishing Account Information. Merchant shall not, without the Cardholder's consent, sell, purchase, provide or exchange Card account number information in the form of Transaction documents, mailing lists, tapes, journal rolls or other media obtained by reason of a Card Transaction to any third party.
Do merchants have to add tax to transactions?
Add any tax to Transactions unless applicable law expressly requires that Merchant collect a tax. Any tax, if allowed, must be included in the Transaction amount and not collected separately;
What is EPX payment?
EPX (Electronic Payment Exchange) is an international payments platform that functions as a backend service partner, acquirer, and processor. This company was founded in 1979 and has been providing payment processing services to banks, retailers, and merchants in the US, Caribbean, Latin America, Europe, and Canada. The platform is secure and reliable, and offers a single point of integration.
How much does EPX cost?
EPX fees are competitive at $15/month for the merchant account and a $5/month statement fee that incorporates the payment gateway. There are no setup, application, daily batch, and annual fees as well as no monthly transaction minimum. You can negotiate the length of contract and there is no cancellation fee. However, you will not be allowed to move a competing vendor during the period of contract.
Increased Revenue
Are you ready to BE FREE from credit card processing fees? Ready to take control of your payments? That's exactly what the EPX EDGE program is for.
Multiple Equipment Options
With today's technology, there's no reason for you to be limited to a single terminal or point of sale system for your business. Right now, we have 10 different options and soon we'll be expanding that number.
Exceptional Service
Behind every successful program is a team that sets the bar high as a standard for support. Everything needed to successfully run this program is provided in welcome kits upon receiving your device.
Merchant Settlement Account (MSA)
Your MSA is your way of accessing the transactions made throughout the day live on your Android smartphone. This gives real-time analytics to see how your business is doing throughout the day, when the peak times are, and value of Card and Cash sales you have made during the day.
Merchant Settlement Account (MSA) Benefits
No matter if you make sales in GBP (£) or EURO (€) currency, your MSA stores these transactions for you to view in real time.
Merchant Category Codes (MCC) supported
The IPOSUP and HCE Wallet apps transform your Android smartphone into your everyday mobile card payments terminal for the following merchant category codes:
Examples of Merchant Settlement Amount in a sentence
If Acquirer’s agreement with Acquirer Merchant for DCC services so provides, Acquirer Merchant shall solely bear the amount of such Interchange Differential incurred for DCC Transactions presented to Planet Payment, and the Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Interchange Differential.
Related to Merchant Settlement Amount
Net Settlement Amount means the Gross Settlement Amount minus: (a) all Attorneys’ Fees and Costs paid to Class Counsel; (b) all Class Representatives’ Compensation as authorized by the Court; (c) all Administrative Expenses; and
What Is EPX?
- EPX is an offsite payment processing service designed to take the hassle out of managing large volumes of credit card payments. With EPX, businesses can accept: 1. Major credit cards 2. PIN and PIN-less debit transactions 3. Automated clearing house (ACH) payments EPX can be integrated with current payment systems and ERP software platforms to seam...
The Value of Integration
- An integrated payment system provides a platform with the power to handle a consistent stream of unique orders. Managing incoming purchase orders, issuing invoices and tracking customer accounts becomes easier when payment data flows freely from one end of the purchasing funnel to the other. Without a reliable platform, payments must be processed individually and entered i…
Order and Payment Flexibility
- Customers make purchases from enterprise businesses through a variety of channels, including: 1. Point-of-sale (POS) systems 2. ERP platforms 3. Online shopping carts 4. Call centers 5. Mobile websites and applications An integrated payment system connects these channels together so that purchase information all ends up in the same place. Using a unique identifier fo…
Managing Payments and Shipping
- Pre-authorizing payments is a common practice among enterprise businesses that involves putting a hold on a customer’s credit card equal to the amount of the purchase but not processing the payment until the order is shipped. This method offers protection against fraudulent activity by giving businesses and banks time to verify that orders are legitimate. Pre-authorization also mak…
Storing Customer Data
- In a B2B environment, many customers make the same purchase on a recurring basisor return to make new purchases after an initial transaction. To expedite these orders, customer data must be easy to store and access, and businesses need to be able to guarantee that their storage methods are secure. EPX provides that security, offering peace of mind to both companies and …
Staying PCI Compliant
- The Payment Card Industry Data Security Standard (PCI DSS) is a standard that must be followed by every company that handles credit card information. Four levels of compliance exist to cover businesses that process anywhere from 20,000 to over 6 million Visa transactions per year. Assessments and vulnerability scans are used to determine compliance. Penalties for non-comp…
How Clarity Can Help
- Enterprise businesses need strong ecommerce platforms that can be managed from a central dashboard and customized to handle a variety of transactions. Clarity’s experienced developers are ready to design and deploy the exact combination of tools you need to process orders, payments, customer data and more on a daily basis. Get in touch with Clarity today to find out m…