Does CardConnect publish its processing rates anywhere?
Summary
No. CardConnect's site puts a price on exactly two things, a virtual terminal that "comes complimentary" with a CardPointe account and a mobile app that is free, and says nothing about the processing rate, monthly fees, or contract terms. Much of the site is written for the sales agents and ISOs who sign merchants up, not for the merchants themselves.
What the site does price
- CardPointe Virtual Terminal: included with a CardPointe account at no charge. It runs in a browser and is aimed at mail and phone orders.
- CardPointe Mobile App: free to CardPointe customers.
- Everything else, including CardSecure tokenization, point-to-point encryption, the Card Account Updater, the CardPointe Gateway, and Clover hardware, appears without a price. The /pricing/ address returns an error.
The gateway pages do mention money in one other way. They say sending Level 2 and Level 3 data on business card transactions lowers the interchange rate. That is a cost the card networks set. It is not a discount on CardConnect's own markup, which the site never states.
Where CardConnect sits inside Fiserv
CardConnect calls itself "a payments platform of Fiserv" on its home and sales-partner pages; the About page says "payments partner of Fiserv." It has been building payment software since 2006 and is headquartered in King of Prussia, Pennsylvania. The home page description is addressed to agent and ISO partners, and the partner page advertises that 93% of partner applications are accepted and that partners get no-cost or low-cost Clover hardware to offer.
Clover is Fiserv's point-of-sale line. CardConnect lists eight Clover devices and says 326,000 have been deployed, with no device prices. Who you actually sign with when you order Clover is covered in our article on Clover contracts.
The five sponsor banks
The footer says CardConnect is a registered ISO of:
- Citizens Bank, N.A., Providence, Rhode Island
- KeyBank N.A., Cleveland, Ohio
- Pathward N.A., Sioux Falls, South Dakota
- PNC Bank, N.A., Pittsburgh, Pennsylvania
- Wells Fargo Bank, N.A., Concord, California
The site does not say which bank a given merchant's account is placed with.
Funding and approval
The merchant page promises "next-day funding opportunities," not next-day funding for everyone, and the counter meant to show what share of merchants get it rendered without a number. Merchants that are auto-approved can start taking payments in as little as one business day, and support runs around the clock.
Sources
- cardconnect.com
- cardconnect.com/merchant-payments
- cardconnect.com/sales-partners
- cardconnect.com/company/about
- cardconnect.com/cardpointe
- cardconnect.com/cardpointe-gateway
- cardconnect.com/cardpointe/virtual-terminal
- cardconnect.com/cardsecure
- cardconnect.com/clover
Related on this site
- When you sign up for Clover, which company are you really signing with?
- What does a POS system really cost each month once card processing is included?
- Does a small business still have to deal with PCI DSS if a processor handles the cards?
- What a 'get a quote' button is for
- Who publishes a card rate, and who does not
- Every provider we hold, and which publish a rate
Written by Kaz (pen name). Figures are copied from providers' published pricing pages on the dates shown. We have not used these products. Corrections: contact form.