When people think about credit card processing, they often imagine a card present environment like a retail store or a restaurant where the customer’s card is physically present and being run through a terminal or point-of sale system. While we can service those types of businesses, our expertise and unique value proposition are centered around the card-not-present, high dollar transaction businesses like home improvement contractors, home services companies, and business-to-business services.
Your business depends on the revenue you collect through payment processing, so you need a partner that you can trust. At Magothy Payments, our obsession with transparency is abundantly clear in our pricing structure. We only use interchange+ pricing and we fully disclose our markup on the monthly statement, both as a percentage and as a dollar figure. This means our clients know exactly how much revenue we generate from servicing their accounts.
Our standard markup is 0.50% and 10 cents per transaction on top of interchange. That means we’re going to generate roughly $50 in revenue for every $10,000 that our clients process. We can offer discounts for merchants with high(er) volume.
On April 30, 2019. Governor Hogan signed HB777 into law. To read more about the bill visit www.magothy.biz/hb777 Maryland’s HB777 and its senate companion SB694 were designed to bring more transparency to the payment processing industry in the great state of Maryland. The Problem: Many small businesses get locked...
Read More >Mar
04
Have you ever heard the saying, “One bad apple spoils the barrel?” It’s true, ya know. An overripe, spoiled apple will emit significantly higher levels of ethylene gas causing other apples around it to overripen as well. We often use this saying or variations of it to describe how low character people can be bad influences on...
Read More >Jan
17