Dynamic Merchants’ company affiliate, Michael Rochester, explains that Dynamic Merchants’ goal is, “to service small, medium and even large businesses with lower merchant processing rates, and the ability to accept credit/debit card transactions and electronic checks.” By reducing the overall expense of taking and accepting credit cards and processing those transactions, as well as communicating with the banks involved, Dynamic Merchants negotiates to receive the lowest possible rates for a retailer’s most common transactions. In addition, the company provides funding, unlike a traditional bank loan, advancing merchants cash based on future credit card sales and without personal collateral, restrictions on use, or an application fee.
To determine the most common and negotiable transactions, Rochester recommends, “Having at least the last month’s credit card statement handy, preferably the last three in order to do a proper analysis because as we all know, business fluxuates periodically, depending on numerous situations and the economy. So we want to make sure that we are beating not just an average, but whatever a retailer is paying at the moment.” The underlying mission, however, is to put money back into the business, allowing those using electronic payment options to grow and increase their revenue.
Dynamic Merchants proposes to do this not only through the different processing solutions it offers, but also through its funding program. Within as little as five to seven days, merchants can be provided with working capital. Rochester explains, “One advantage that we have is that we also offer funding between $50,000 to $1.5 million at zero percent APR; however, there is a finance charge that varies with company and industry. The way we take the payments back is simply by adding a small percentage to the merchant processing rates, with the payments being smaller on slower months.” Simply, retailers who qualify for the funding program would be able to receive immediate cash for their business needs, such as improvements, expansions and whatever else the money could be used for, instead of waiting for credit/debit purchases to be processed and money received.
Although primarily focused on lowering debit and credit card processing rates, as well as providing cash advanced funding, Dynamic Merchants is also able to provide a full spectrum of transaction processing services, which include ATM cards, EBT State and Government cards, and electronic gift and loyalty cards. Rochester expresses the necessity of gift and loyalty card services associated with Customer Loyalty Programs, emphasizing, “Gift and loyalty card services are huge in the retail industry right now. It’s something I wouldn’t want a retailer, restaurant or customer-oriented organization to be without in this day and time.”
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3039 West Peoria Ave Suite 102
Phoenix, AZ 85029