1. The United States Power Squadrons® dedicated to making boating safer and more fun 1 The United States Power Squadrons® dedicated to making boating safer and more fun Accepting Credit Cards The Experiences of Absecon Island Power Squadron

2. The United States Power Squadrons® dedicated to making boating safer and more fun 2 The United States Power Squadrons® dedicated to making boating safer and more fun Credit Cards Two kinds – Debit or Credit Many different companies issue cards Many different companies process credit card transactions Credit cards have many sub-types –Qualified –Mid-Qualified –Non-Qualified Each charged a different rate of commission

3. The United States Power Squadrons® dedicated to making boating safer and more fun 3 The United States Power Squadrons® dedicated to making boating safer and more fun Credit Cards Two different types of merchant accounts –Retail – generally the merchant “swipes” the card through a reader –MOTO (Mail Order Telephone Order) - the merchant takes card numbers but never sees the card. Each account pays different commission rates on each type of card.

4. The United States Power Squadrons® dedicated to making boating safer and more fun 4 The United States Power Squadrons® dedicated to making boating safer and more fun Accepting Credit Cards AIPS investigated four different card processors for each of the two types of accounts. The charges and fees varied widely.

5. The United States Power Squadrons® dedicated to making boating safer and more fun 5 The United States Power Squadrons® dedicated to making boating safer and more fun Accepting Credit Cards Card TypeMinotolaQuickBooksHeartland 4 NOVA MOTORetailMOTO RetailMOTO Debit/Check2.35%1.60%2.44%1.714%1.13%2.04% Qualified2.35%1.85%2.44%1.99%!.68%2.04% Mid-Qualified3.05%2.35%3.14%2.80%2.28%2.75% Non-Qualified3.05% 3.14%2.80%2.79%3.61% Transaction Fee$.28$.25$.23$.15 $.28 1 AuthorizationNone $.65 Mon. Disc. FeeWaived Up to $20.00None $40.00 2 Monthly Fee$5.00 $17.95$35.00 $5.00 Equip. Rental$20.00 N/A$49.16 $35.00 3 Set Up Fee$50.00 $59.95None $25.00 1 NOVA transaction fee for qualified cards is $.18 2 Based on the fact NOVA requires minimum sales of $2,000.00 per month 3 NOVA equipment rental can be up to $230.00 depending upon equipment selected 4 Heartland is the processor for Commerce Bank the discount rates shown are averages; they provided quotations for twenty-two types of different cards

6. The United States Power Squadrons® dedicated to making boating safer and more fun 6 The United States Power Squadrons® dedicated to making boating safer and more fun AIPS Experience Opened a retail merchant account with Minotola National Bank, a regional card processor headquartered in southern New Jersey. Limited our acceptance to MasterCard and Visa in order to control expenses. Accepts credit card payments for course papers, dues and initiation fees, and admission to social events. Purchased a used card reader which enables us to swipe cards at a remote location and report the transactions on-line later.

7. The United States Power Squadrons® dedicated to making boating safer and more fun 7 The United States Power Squadrons® dedicated to making boating safer and more fun AIPS Costs $250.00 for the card reader $50.00 one time set up fee Between 1.6% and 3.05% of transaction amount Twenty-five cents per transaction Five dollars per month

8. The United States Power Squadrons® dedicated to making boating safer and more fun 8 The United States Power Squadrons® dedicated to making boating safer and more fun Benefits Who carries cash? Increased enrollment in squadron classes Convenience for members increases attendance at events Ability to accept dues payments

9. The United States Power Squadrons® dedicated to making boating safer and more fun 9 The United States Power Squadrons® dedicated to making boating safer and more fun Drawbacks Liability if credit card information is stolen or miss-used Someone has to lug the machine around

10. The United States Power Squadrons® dedicated to making boating safer and more fun 10 The United States Power Squadrons® dedicated to making boating safer and more fun IS IT WORKING?

11. The United States Power Squadrons® dedicated to making boating safer and more fun 11 The United States Power Squadrons® dedicated to making boating safer and more fun More information? P/R/C Thomas R. Dougherty, SN tdougherty@simcare.net or abseconislandps.org click on “Information,” then “Credit Card”

12. The United States Power Squadrons® dedicated to making boating safer and more fun 12 The United States Power Squadrons® dedicated to making boating safer and more fun Questions ? ? ?