Business Plus launches in-house Payment Processing solution for SMBs

The solution eliminates contracts and cancellation fees, monthly and statement fees, monthly minimum fees, and payment card industry (PCI) compliance fees. It also offers its members several benefits, including pass-through pricing (allows the actual cost of processing -- interchange fees and assessments -- to be passed directly to the merchant), zero per cent interchange-plus markup (Business Plus is able to avoid the markup that is applied to interchange fees published by Visa, MasterCard, Discover, and American Express).

It also inlcudes dynamic currency conversion (allow international customers to pay in their own currency), sub-accounts for separate business entities (for companies with multiple locations or legal entities, Business Plus provides sub-accounts that integrate across the business).

Business Plus Payment Processing offers users on its platform several features as part of the service, including credit, debit & ACH processing (all Business Plus members using the payment processing feature will receive access to merchant services to accept credit, debit, fleet, and EBT Cards along with ACH & cheque processing), low cost domestic & international wire transfers (Business Plus offers wire transfers at similar low costs as those offered by banks).

The Business Plus Payment Processing also includes funds deposited in 48 hours, guaranteed cheque processing, online payment gateway/terminal (most common solutions charge a nominal monthly and per transaction fee, which adds up and Business Plus covers this cost).

The new Business Plus platform includes hardware and software solutions supporting Customer Relationship Manager (CRM), Accounting, Payment Processing, Sales & Support, Human Resources, Marketing, Website Development. Business Plus will release its software and hardware solutions on a rolling basis throughout 2016. Business Plus Payment Processing is available on most commonly used platforms, including mobile devices, terminals, online, ecommerce, point-of-sale systems, pay-at-the-pump locations and others.