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Credit Card Processing New Mexico

Accepting your customers credit cards is more complicated then it looks. With so many different banks around New Mexico and third party merchant providers offering credit card processing solutions it helps to have a concise overview of the various transaction fees, discount rates and technologies to consider.

1. Local Companies

2. Credit Card Processing - Info

3. How Credit Card Processing Works

4. Basic Fees

5. Featured Local Company

1. Local Companies

Merchant Warehouse
866-599-3217
Albuquerque, NM

CPC of New Mexico
505-918-1826
742 57th St. N.W.
Albuquerque, NM

First Data Independent Sales Fdis
(505) 232-4000
Albuquerque, NM

Electronic Money Co
(505) 296-2847
Albuquerque, NM

First Community Bank
(505) 241-7373
Albuquerque, NM

Total Merchant Services Tms
(505) 292-7193
1919 Eubank Blvd NE
Albuquerque, NM

First Community Bank
(505) 241-7373
Albuquerque, NM

Acceptance Credit Card Services
(505) 246-9000
Albuquerque, NM

Citibank-Citicorp Credit Services Inc
(505) 797-6100
9521 San Mateo Blvd NE
Albuquerque, NM

First State Bank
(505) 241-7373
Albuquerque, NM

2. Credit Card Processing - Info

Whether you conduct business online, offline in New Mexico or both you will at some point consider accepting credit card payments from your customers. The decision to allow credit card payments may be a simple one; however, selecting a merchant account provider is complicated and can have a real impact on your business not to mention your bottom line. Unfortunately, not all merchant accounts are alike. You’ll soon learn that providers have different approaches to rates, fees, limits, not to mention customer service – and finding the right match for your business is critical. The remainder of this guide will break down the process and key considerations to enable you to find the right solution.

3. How Credit Card Processing Works

Without getting too detailed and caught up in all the possible exceptions, here’s what happens when a credit card is processed:

1. Merchant processes card with a point of sale unit or via software if online.

2. Data is transmitted (card info, sales amount) to the “acquiring” bank.

3. Acquiring bank requests authorization from the “card-issuing” bank.

4. If accepted, acquiring bank processes the transaction and sends approval back to the merchant.

5. The merchant reviews the transactions and transmits confirmation to acquiring bank for deposit.

6. Acquiring bank then requests and receives funds from the card-issuing bank.

7. Acquiring bank then deposits funds into the merchant’s account.

4. Basic Fees

Needless to say, all parties involved in this process benefit (take a cut). Here are the primary fees to consider:

Set-up fee – one time fee for getting started

Transaction fee – merchant pays a fee for every transaction

Discount rate – flat % charged to merchant for every transaction

Chargeback rate – rate of monthly sales “held” in reserve to offset any fraudulent transactions

Chargeback fee – there is often a fee for charge-backs

5. Featured Local Company

CPC of New Mexico

505-918-1826
742 57th St. N.W.
Albuquerque, NM

Read more about Credit Card Processing

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- Defining the Different Merchant Account Types New Mexico
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Credit Card Processing New Mexico

1. Local Companies

2. Credit Card Processing - Info

3. How Credit Card Processing Works

4. Basic Fees

5. Featured Local Company