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"Accept credit cards online for free" sounds to good to be true...what’s the catch?
No catch. Here’s how it works…Convenience fees are permitted by all major card associations and by all fifty (50) states provided the merchant adheres to specific set of regulations that govern the assessment of a true “convenience fee”. A convenience fee may only be passed through to the cardholder for the privilege of making payment through an “alternative payment channel”. This alternative channel is your website. Our systems are designed to comply with all card association regulations and permits you, the merchant, to charge a flat, fixed dollar amount for each transaction made through your Cashbox web payment portal.
We help you to determine how much that flat, fixed dollar amount should be to achieve your business goal. If your goal is to cover 100% of the costs associated with acceptance of online payments, then we will first determine your average cost per transaction and set your convenience fee to cover that amount. All convenience fees collected through our system are deposited directly to your checking account along with all other monies authorized by the cardholder during that transaction. This means that when your monthly fees for card acceptance are deducted from your account, the convenience fees you collected throughout the previous month are already in place to offset those costs. The net result is that you’re able to offer customers the convenience of making payment online from any web-enabled device and it doesn’t have to cost you a penny!
Do we have to charge a convenience fee?
Absolutely not! The convenience fee option is just that: an option. You are in total control of how much and under what circumstances you charge visitors to your web payment portal for the convenience of using that alternative payment channel. Our job is to make certain that you remain in compliance with all card association regulations so as to prevent fines or closure of your merchant services priviledges which can result from non-compliance.
Can we charge a convenience fee on all transactions?
No. Only those transactions authorized through your alternative payment channel may be assessed a convenience fee. Your web payment portal is your alternative payment channel. Our system allows you to also accept telephone, mail-in and face-to-face transactions; however, the system does not allow you to assess a convenience fee on transactions originating through these payment channels.
Are there additional costs?
Here at Cashbox, we’re all about transparency. No hidden or undisclosed fees. As part of our application package, we provide a single page document detailing our fee structure. It’s simple, straight-forward and easy to understand. Once the 90 day trial period expires, we will begin to deduct our fixed monthly fee of either $29.95 , $39.95 or $69.95, depending on the services you select. These fixed monthly fees include all statement and monthly service fees charged by our market partners. They bill us for numerous items and we roll them up into one monthly, fixed fee so that you aren’t riddled with a series of separate deductions.
When comparing our fees to competitors, please consider the incidental items that show up on your merchant bankcard billing statement; such as monthly statement fee, monthly service fee, PCI compliance fees, batch closure fees, etc. Our monthly fee includes all these incidentals. We dislike the practice of “nickel & diming”. We’re betting on the fact that you’re not fond of it either. Cashbox offers a very simple pricing guarantee: we will match or better any bona fide offer from a legitimate competitor. Pricing is never an obstacle to moving forward with our system!
How does the system protect against chargebacks?
Some chargebacks can be warranted. If the cardholder didn’t receive the services that they paid for, they are entitled to a refund. If you don’t voluntarily make that refund, then they have a right to chargeback the transaction. However; there are instances where the chargeback is unwarranted and our system protects you in these situations by clearly conveying your terms and conditions and requiring the cardholder check the box to acknowledge they accept your terms and conditions before they can proceed to checkout.
Further; we have added a unique feature that allows you to click a single button to email a copy of the receipt that includes your terms and conditions and requires the cardholder to print, sign and return that receipt to you along with a copy of their driver’s licence. Provided you fulfilled your end of the arrangement, then you are well protected against unwarranted chargebacks.
How will we know when someone makes a payment through our website?
Several ways. First; each authorized user who you have us add to the email distribution list receives immediate payment notification every time a transaction is successfully authorized through your system. Second; At anytime, from any web-enabled devise, including your smartphone, you can quickly login to the system and view or print transaction activity. You can even use filters to limit your search to specific payers or products.
How much is support and are there different support levels?
We have one support level. Every Cashbox customer gets access to unlimited support. Period. You contact us by phone or email and we get whatever you need done for free.
What’s the contract term?
We offer every customer a 90 day free trial of our system. We’ll set up your account and configure your terminal, then you get to take it for a three month test drive with no obligation. Cancel at any time. (You only pay the transaction costs (minus whatever convenience fees that you collect to offset them).
What’s the penalty for early cancellation?
Neither Cashbox or any of our Market Partners charge for early cancellation. Cancel without penalty at anytime with thirty days notice.
Do users pay extra for enhancements when they are released?
No. Enhancements are one of the great benefits of cloud-hosted software applications. The entire user group receives the latest software each time an update is released. There are never any upgrade fees. Roll-outs are announced in advance, including a description of the issues that were addressed and any new features that have been added. These roll-outs generally go live during low traffic hours. When appropriate; Cashbox beta tests new features before releasing them to the general user group. No added fees, constant upgrades and unlimited support are key to client retention. Happy customers stick around!
How do I setup categories, products, options and fees?
You don’t! We set all that up for you. We add your logo and colors, configure your products, modify your terms & conditions, set up your managers, and train you and your staff. You just add the ‘Make a Payment’ button to your website. If you have the login info for the backend of your website, we can even help with that.
How do we change, edit or update products and fees?
You just reach out to us by phone or email, tells us what you need and we’ll take care of it immediately. Add products, edit descriptions, update amounts and fees at anytime as necessary. This service is included with our unlimited support.
Does the system permit refunds?
You may issue a full or partial refund from our system to any cardholder. The system will automatically notify that user of the refund by email once the transaction has been authorized by you. Only backend users who are logged in at the administrator level are given refund rights. Supervisors are not permitted to issue refunds for your protection.
How many authorized users can we add to our system?
You may add unlimited users to your system. There is no per user fees. Just let us know and will add them for you.
Can I send a Payment Request to a client from my smartphone?
Certainly! Just use your browser app to login, select “New Payment”, select the payer and add the appropriate items to the queue. Then just tap “Send Request”. That’s all there is to it. The request will be added to the log and when the recipient completes authorization, it will marked paid automatically.
What’s the difference between a recurring transaction & a recurring payment request?
Convenience fees are prohibited on scheduled recurring transactions. While our system does support the automatic authorization of scheduled, recurring transactions (card on file), it also provides you the opportunity to schedule recurring payment requests instead. When you deploy this option, the recipient of the email is directed to login to the web payment portal, thereby ensuring that the authorization is processed through your “alternative payment channel” which allows you to assess a convenience fee.
What if we need a feature that isn’t available yet?
That’s what forums are for! We appreciate your input on how best to enhance the system. Drum up support for your idea in the user forums and influence our priorities. In most instances, we prioritize development of features based on the collective value to the overall user group. The more clients who weigh in and support the need for a particular enhancement, the higher our priority to get it implemented.
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