The American Express OnePoint Program offered by Bank Associates Merchant Services is an innovation in the electronic payments industry which makes accepting American Express easier and more profitable for merchants than ever before. The main program feature is twelve-hour funding on all major card types - Visa, MasterCard, Discover and American Express - a service that has never been available before. While the technology that makes this possible is quite complex, the American Express OnePoint Program is very easy for the merchant to use. As long as the merchant batches out their credit card sales by 7:00 p.m. EST, all of that day’s Visa, MasterCard, Discover and American Express sales will be de deposited in the merchant’s bank account by 7 a.m. the very next morning.
Until now, no one in the industry could offer such fast deposit times with American Express. In the past, American Express transactions could take up to 120 hours or five days to be deposited into the merchant’s bank account. With the American Express OnePoint Program through Bank Associates Merchant Services it now takes just 12 hours from the merchant batching out to having the funds in their bank account. This is a decrease of up to ten times in a merchant’s deposit time!
The American Express OnePoint program is beneficial to all merchants, but should be of particular interest to merchants who were hesitant to accept American Express in the past due to the delayed deposit time. This is due to the fact that studies show American Express cardholders spend more money at merchant locations than those customers who utilize the other three major card types instead. Additionally, many corporations issue their employees corporate American Express cards for work related expenses - especially higher ticket purchases. The decreased deposit time will now allow merchants who did not wish to accept American Express in the past to reap the benefits of increased sales while also receiving their funds for all cards types in just 12 hours.
Until now, merchants were signed up with American Express directly and received a separate statement each month than their Visa, MasterCard and Discover statement. With American Express OnePoint, merchants receive one simple statement detailing the transaction activity and fees for all four card types. This amounts to a savings to the merchant of at least $60 per year as merchants paid at least $5 a month per American Express statement and Bank Associates Merchant Services charges their merchants $0 per statement. American Express OnePoint with Bank Associates Merchant Services automatically saves merchants at least $60 per year. Additionally, there are now no separate monthly minimum processing fees, annual fees or setup costs associated with accepting American Express.
Bank Associates Merchant Services strives to make their statements as clear and concise for their merchants as possible. Oftentimes, credit card statements seem designed to confuse or bewilder the business owner so they are unable to know exactly what their credit card processor is charging them per swipe. With the American Express OnePoint Program through Bank Associates Merchant Services merchants receive one statement with the transactions and fees for all of their accepted cards types. Merchants no longer need to attempt to reconcile their transactions and bank deposits from multiple statements and different deposit schedules. In addition to having just one statement for all card types, merchants processing via Bank Associates Merchant Services’ American Express OnePoint program will now have a single point of contact for all of their credit card processing questions and concerns as opposed to having to remember different customer services numbers for the different card types.
These advantages make the American Express OnePoint Program offered exclusively in Brooklyn by Bank Associates Merchant Services the cutting edge business tool for merchants of all sizes who want fast funding combined with concise reporting.
ArticlesRFree.com does not endorse or recommend any article on
this site or any product, service or information found within said articles. The
views and opinions of the authors who have submitted articles to
ArticlesRFree.com belong to them alone and do not necessarily reflect the views
of ArticlesRFree.com, its staff or parent company.
![[Valid RSS feed]](http://www.articlesrfree.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
