NEXSWIPE FAQ

Questions New Users Ask About The NexSwipe System

The following are questions frequently asked by new customers and those interested in the NexSwipe service to better enable their business' credit card processing.

What is NexSwipe?

NexSwipe is a merchant terminal program which uses your Nextel phone and its Web connection to authorize credit card transactions and transfer the necessary funds. This package may actually be used as a stand-alone package, as it comes with a pre-approved flat rate merchant account service, a low cost wireless plan and no setup application or cancellation fees. If you are a mobile businessperson, or have a sales force that would benefit from accepting credit cards on the road, this is your best solution.

What benefit do I obtain from accepting credit cards?

Credit cards are a staple of most Americans economic diet. Their popularity is unrivalled. This is because they allow impulse purchases, yet give your customers time to pay back their credit. In many cases, credit card users tend to purchase premium brands or items and in larger quantities then they might with cash. Bottom line is that businesses that accept credit cards make better sales, and higher profits.

NexSwipe offers tremendous cost-benefits to small business because it allows you to accept credit card anywhere your business takes you - at a fraction of the cost of most terminal equipment. This product has also executed well for large organizations with mobile sales forces, such as towing/roadside assistance, messenger/delivery service, taxi/limousine services and many, many more.

Does NexSwipe support PDAs?

Absolutely. Using the Pocket Verifier Professional for Pocket PC and Palm OS, the NexSwipe product allows you to process cards anywhere. We will release a version for the Nokia Communicator within the next year.

Who can best use this service?

The prime users of the NexSwipe product are US businesses that perform sales or service functions outside of the office. Whether the taxi driver who takes you to the airport or the messenger that delivers your package COD, NexSwipe enables companies and businesspeople to multiply sales and increase overall cash flows. The next time you request a service, such as a taxi, order a pizza from your local restaurant or have your drain unclogged by your plumber, you will see how the NexSwipe system can provide real opportunities.

What is a Magnetic Card Reader, and why should I use one?

Having a magnetic card reader offers many benefits to merchants, as it attaches to PDAs and cell phones and actually reads the magnetic stripe on the back of customer credit cards. When you use a card reader, all cardholder details are entered for you, which makes your transaction clearing time much quicker. The key benefit is that your bank charges you a much lower discount rate when you use a reader, which is known as a "swiped rate".

What does "Swiped Rate" mean?

Using a card reader tells your bank that you have a credit card in hand, have checked your cardholding customer's identification and that the cardholder is present to give you a signature. This offers an element of safety to the transaction process, which is beneficial to you and your bank. As a bonus, your bank will offer you a better rate on the transaction.

How do I know that NexSwipe is best for me and my company?

NexSwipe was designed specifically for companies that use Nextel phones and the Direct Connect service. Companies that use this service already have 90% of what they need to get going - we simply provide the technology and card readers. Also of note is that if you are using the BOOST MOBILE pre-paid Nextel Service (CA and NV only), you can use the NexSwipe service. Either way, you can deploy very inexpensive transactions quickly, safely and easily.

Can I do credits, voids and reports?

The NexSwipe.com service includes a complete web-based virtual terminal and reporting system which duplicates all of the features of a standard stand-alone electronic credit card terminal. With it, you can enter transactions, perform voids and refunds and create reports summarizing settled and unsettled transactions. You can do this anywhere and anytime with only the help of a simple PC and browser.

Is there an extra cost for multiple units?

No. The NexSwipe monthly service fee is based on a single Merchant ID. This means you can have 1, 20, 100 or even 1000 NexSwipe units in the field, and pay the same $8.99 monthly service fee for NexSwipe WAP server access. You will need, of course, to purchase NexSwipe card readers for each phone, but this is a one-time fee, and we offer extremely aggressive pricing for multiple unit orders.

How do I provide my customer with receipts?

While many NexSwipe clients already have credit card processing paperwork for their customers with cardholder agreement verbiage on the forms, we do provide "Pocket Imprinters" to smaller merchants which imprint the credit card details onto a standard 2 or 3 part credit card receipt. These imprinters come for a nominal one-time cost of $29.95.

I have a merchant account with another provider. Can I use this for NexSwipe?

Because the NexSwipe program offers specialized programs and servers, it is necessary to switch providers. If you are currently processing credit cards with a different credit card processor, we can match or beat your current rates. Call the toll free number above for more details or contact us here using our contact form.

What credit cards does the NexSwipe system work with?

The NexSwipe system automatically approves Visa and Mastercard, and you may also apply for Amex or Discover merchant accounts, but they do not guarantee approval. Amex and Discover generally tend to set their own rates with you directly, so we cannot control these costs. Additionally, Discover now charges new merchants a $25 fee upon acceptance. Again, this cost goes directly to Discover. As well, Discover is now requiring that your business be at least two years old before they can approve your application.

Do you have a question about NexSwipe that wasn't addressed in this FAQ? If so, please contact us at the toll-free number above, or contact us here using our quick contact form.