allows merchants to extend credit up to 180 days without a credit check, provided the customer has...
TRANSCRIPT
STANDARD PLAN
Platinum Standard Plan
Allows Merchants to extend credit up to 180 days without a credit check, provided the customer has good check writing history and proof of income.
Platinum Standard PlanNo merchants are turned down due to
credit/bank statements (leasing company may still decline, however).
Merchant does not need to furnish bank statements or IRS forms. Merchant must furnish:
Business license Voided check Driver’s license
Platinum Standard Plan
Merchant must lease/purchase terminal and check reader
No setup fee $7.00 application fee for single check
conversion option (Up to $36,000.00)1.5% +$0.20 fee for single check conversion
Platinum Standard Plan
Financing terms: 45 days, 60 days, 90 days, 135 days, 180 days
Limits/warranty fees:$0 - $1500 – 9%$1501 - $2500 – 15%
Platinum Standard Plan
Customer must present ID, paycheck stub and bank statement (if self-employed 3 Months BK’s)
If customer has no NSFs in past 30 days, merchant receives full amount of funds
If customer has 1 NSFs in past 30 days, merchant receives the down payment and the balance is “paid when payment scheduled” Guaranteed
If customer has 1 or more NSFs in previous 30 days or does not meet minimum income requirement. Merchant will receive funds “paid when paid” NOT GUARANTED
Platinum Standard Plan
Customer may request to have funds withdrawn weekly, biweekly or once a month
Note: To be advanced Merchant must be choose weekly or bi-weekly mode.
Platinum Standard Plan
Excluded merchants: Bankruptcy attorneys Pawn shops Credit repair agencies Coin dealers
Included merchants: Jewelry stores ($1,200.00 Max) Travel/vacations/timeshares Home-based businesses Clothing Car audio Full amount of used cars (processor
does take a position on the title)
Platinum Standard Plan
Transaction processMerchant:
1. logs into website2. fills in application online, receives transaction
number3. faxes in bank statement or check stub along
with transaction number4. submits down payment check via check
reader/terminal along with transaction number
5. receives approval notification within 10 minutes
Platinum Standard Plan
