July 15, 2014
Sharing for the listserv's benefit from Tom Aronica, President of Sky Bank Financial -
I’ve had a few clients asking me about the new American Express program, so I thought I would send over an overview. As you likely know, Amex had an old program that most business owners absolutely hated; it’s the reason why you see a lot of businesses that do not accept Amex. The old Amex program was a separate account from the Visa and MasterCard account that was funded in a separate batch up to 72 hours from the time the transaction was run. More importantly, Amex set the rates, which were significantly higher than what Visa and MasterCard typically charge.
We are one of the first processors in the country that have access to a new program by American Express that lets us “acquire” those transactions just like we do for Visa and MasterCard. That means: No more waiting 72 hours to get your money; we can do it in 12 hours! No more additional statement fees from Amex; we can include it in the same report as Visa and MasterCard! Most importantly, we can now price Amex just like we do Visa and MasterCard, typically generating savings on Amex transactions in excess of 20%.
We are still offering our free QuickBooks solution to all of your readers and would be happy to schedule a live demo anytime. Not only will they receive our QuickBooks system free of charge, but we can also give them access to the new Amex program and integrate it all through one account.
Feel free to have anyone who wants a quote or demo reach out to us by clicking here
. Thanks for the support, let me know if anyone has questions.
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