Merchant Services & Payment Processing FAQs
Payment processing can get complicated quickly. Rates, fees, POS systems, merchant accounts, gateways, ACH, recurring payments and pricing models all come with their own terminology, and most business owners do not want to spend hours trying to decode it.
Anchor Payment Solutions works with businesses in North Carolina and nationwide to help them understand their payment options, compare technology and make better decisions about how they accept and manage payments. Browse the questions below by category, or reach out if you do not see what you need.
- Credit Card Processing
- Industries & Business Types
- Online Payments, ACH & Integrations
- POS Systems, Hardware & Software
- Processing Fees & Pricing
- Support, Service Area & Working With Anchor
Flat-rate pricing charges the same processing percentage and fixed per-transaction fee regardless of the card brand, card type or the actual interchange cost behind the transaction. It can be simple and predictable, but it is not always the best fit for every business. Anchor can help you compare flat-rate pricing with options like interchange-plus, dual pricing and cash discount to determine what makes the most sense for your business.
Yes. Anchor can help connect payment processing with many of the platforms businesses already use, including Housecall Pro, ServiceTitan, ShopMonkey, Jobber, Mindbody, Zoho and others. If you already have a CRM or business-management platform in place, we can help evaluate which gateways and integrations are compatible with your current setup.
Anchor takes a consultative approach rather than starting with one processor, platform or product. The team learns how the business operates, compares available options and continues providing personal support after the account is set up.
No. Anchor Payment Solutions is based in North Carolina and has a strong focus on businesses in Raleigh and throughout the state, but the company supports businesses nationwide.
Yes. New businesses can work with Anchor to choose a merchant account, payment processor, hardware and software before they begin accepting payments. Starting with the right setup can help avoid unnecessary changes later.
Yes. Retail businesses can work with Anchor for credit card processing, POS systems, payment terminals and other in-store or online payment solutions.
Yes. Anchor has experience helping restaurants with payment processing, POS systems and payment technology that fit fast-moving hospitality environments.
Anchor Payment Solutions works with businesses across a wide range of industries, including restaurants, retail, professional services, technology companies, daycares, franchises, nonprofits and other businesses with specialized payment needs.
Yes. Recurring payment processing can be used for memberships, subscriptions, retainers and other repeat billing models. Anchor can help businesses determine which recurring payment tools fit their needs.
Yes. ACH payment processing can be an option for businesses that want to collect payments directly from customers’ bank accounts, including invoices and other larger or recurring transactions.
Anchor can help businesses evaluate payment solutions that work with WooCommerce and other ecommerce tools. The exact setup depends on the gateway, processor and other technology being used.
Yes. Anchor can help businesses evaluate ecommerce payment processing based on the website or ecommerce platform they use, the payment experience they want to provide and the other systems that need to connect with it.
A payment gateway securely sends payment information from a website, ecommerce store or software platform into the payment processing system. It is one of the key pieces involved in accepting card payments online.
Yes. Anchor can help businesses evaluate online payment processing, ecommerce payment gateways, virtual terminals and other tools for accepting payments remotely.
Sometimes. Whether existing equipment can be reused depends on the terminal, software, processor and how the hardware is configured. Anchor can review your current equipment and determine what may be compatible with a new setup.
Yes. Anchor helps with more than selecting hardware and software. The team can also assist with setup and implementation so businesses are not left trying to configure a new payment system on their own.
A virtual terminal allows a business to enter and process payments through a computer or web browser instead of using a physical countertop terminal for every transaction. It can be useful for phone payments, remote sales and service-based businesses.
A credit card terminal primarily accepts payments. A POS system can combine payment processing with additional features such as inventory management, reporting, employee tools, restaurant functions or customer management.
Yes. Clover is one of the platforms Anchor can help businesses evaluate and implement when it fits their needs. Anchor is not limited to Clover, so other hardware and software options can also be considered.
There is no single POS system that is best for every small business. The right system depends on your industry, workflow, transaction volume, reporting needs, integrations and the way your customers pay.
Potentially. Anchor can review your current processing statement, explain what you are paying and compare other available pricing structures or processors. The goal is to find a better fit, not recommend a switch when one is not necessary.
Both models can help businesses address card processing costs, but they present pricing to customers differently. Anchor can explain how each model works and help determine which approach, if either, fits your business.
Dual pricing displays separate prices for cash and card payments. It can help some businesses manage card processing costs while giving customers a clear choice in how they pay.
A cash discount program offers customers a discount for paying with cash while card transactions are priced differently. These programs need to be structured and communicated correctly, and Anchor can help businesses determine whether this type of pricing model makes sense for them.
Interchange-plus pricing separates the card network’s interchange cost from the processor’s markup. It can make processing costs easier to understand because the underlying interchange rate and the additional processing charge are shown separately.
Anchor Payment Solutions does not charge a monthly account fee simply for keeping your processing account open. Other processing costs can vary based on the processor, technology and payment setup selected for your business.
Anchor Payment Solutions works with businesses on a month-to-month basis rather than requiring a long-term merchant contract. There is also no cancellation fee if your needs change.
Yes. Businesses can switch payment processors when their pricing, technology, service or support no longer fits their needs. Anchor Payment Solutions can review your current setup, compare available options and help coordinate the transition.
A merchant account is the account that allows a business to accept and process card payments before the funds are deposited into the business bank account. Anchor can help new businesses set up a merchant account and help established businesses evaluate whether their current account still fits their needs.
Start by reviewing your merchant processing statement. Anchor offers a free statement audit to help business owners understand their current rates, fees and pricing structure and identify whether another setup may offer better value.
Credit card processing costs vary based on your business, industry, transaction volume, average sale, card mix and the pricing model used. Anchor Payment Solutions does not take a one-size-fits-all approach to rates. We look at how your business operates and help determine which pricing structure makes the most sense for you, whether that is flat-rate pricing, interchange-plus, dual pricing, cash discount or another setup.
Credit card processing is the system that allows a business to accept card payments from customers and move those funds into its business bank account. Anchor Payment Solutions helps businesses choose a processing setup based on how they operate, how customers pay and what technology they need.
Let’s Find A Payment Solution That Fits Your Business
A free merchant statement analysis gives you a clearer picture before you make any decisions. If there is an opportunity to lower your credit card processing fees or improve your setup, we’ll walk you through it. If what you have is already working well, we’ll tell you that too.
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