|
|
Keyed Merchant Account, Accounts, MOTO
A MOTO or keyed Merchant Account, MOTO stands for mail order
telephone order, is the term used when a merchant is not able to
swipe their customers card through a credit card machine. A
keyed merchant account qualifies for a credit card processing
rate slightly higher than a retail merchant account, where the
card is being swiped through a credit card machine. This
increase in processing rate is due to a higher security risk
when processing a transaction, because the card is not
necessarily at the point of sale, and the merchant is not always
able to actually verify that the customer is who they say they
are. |
|
All merchant accounts must be set up as a
keyed merchant account if the merchant is planning to key in over
20% of their credit card transactions. It is common for businesses
to set up two merchant accounts if they are planning on processing a
nearly equal volume of keyed, and swiped transactions, or if they
have high volume in both areas. This will save the merchant money
over time. There are a variety of credit card machines that can
handle 2 or more merchant accounts, so only one piece of equipment
is needed. The most common credit card machine that can handle two
merchant accounts is the Nurit 2085. But the Nurit 3020, Omni 3740,
Omni 3750, and the wireless Nurit 3010, and Nurit 8000, can also
handle multiple merchant accounts.
Your email and information will not be
shared with any outside agency and are used solely to allow us to
contact you with an offer. If you have any questions about your
privacy, please read our user and privacy policy.
Typical Rates that we offer for Keyed Merchant Accounts are
2.35%-2.50%, with a transaction fee of $.25 per transaction. The
rate that you qualify for, depends on your business type and credit
history, but most merchants will fall into the lower end of the
rates that we offer. Please fill out an information request for
complete rate information.
|
