MOTO Merchant Account

MOTO is short for Mail Order/Telephone Order.  MOTO refers to anything "card not present" or "non face-to-face".  MOTO also refers to Internet processing as well.  Since cards are not actually being swiped in a credit card machine, the rates and fees associated are higher then what are charged for retail or "card present" transactions.  Keep in mind, MOTO can also refer to retail merchants who "key" in credit card information using their credit card machine rather than swiping the card through the machine.

MOTO Processing Solutions

There are several ways you can process MOTO transactions:

1.  Virtual terminal - Secure, web-based "terminal" that allows you to manually enter in credit card information.  Virtual terminals are great because they do not require any software installations and can be accessed from any computer that can connect to the Internet.  It is probably one of the most cost effective methods as well.

2.  POS Software - POS, also known as "Point-Of-Sale" software such as ICVerify, PC Charge Pro, and others are installed on your computer and use your computers modem to send credit card transactions through.  POS software does offer some more detailed functions then virtual terminals do, however their price tag can usually be much steeper. 

3.  Touch-Tone Processing - This alone is probably the most basic and inexpensive way to easily process credit cards.  There is no additional equipment needed, you simply use the keypad on the telephone to enter in the credit card information, amount, etc.  An approval code will be given for you to write down and store in a safe place.  The service can even be utilized by cell phones.  Touch-tone processing is perfect for any location.  It makes a great mobile solution.  As explained previously, pricing is very cheap however processing fees may be higher.  These accounts are probably the easiest to setup and are best suited for merchants who process no more than $10,000/month.  If this option interests you, there's a service called Touch-Pay that can get you setup today and start processing in just a few hours.

Costs Associated with MOTO Merchant Accounts

• Purchase Cost:  $50 and up (one-time fee)
   
• Application/Setup Fee: up to $100
   
• Gateway Fee: up to $20/month (applicable to Virtual Terminal solution only)
   
• Statement Fee: up to $15/month
   
• Monthly Minimum:  up to $25/month
   
• Annual Fee:  $0 to $100/year
   
• Discount Rate:  2.29% and up
   
• Transaction Fee:  $0.30 to $0.35

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