National Merchants Association Welcomes New Member Stacy Furniture & Design
Furniture merchantA business that accepts credit cards for goods or services. underscores NMA’s leadership position as the bankcard expert for small-to-mid-sized businesses
BURBANK, Calif., – February 17, 2012 – National Merchants Association (NMA) is pleased to announce the addition of Stacy Furniture & Design to its growing client portfolio. A leader in providing merchants the best credit card processing rates, NMA works with companies to identify maximum cost savings for long-term business success by using their proprietary account optimization process. Visit nationalmerchants.org.
NMA understands the special needs of furniture retailers and other high riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. Examples of high risk merchants are telemarketing, adult and travel related industries. merchantA business that accepts credit cards for goods or services. accounts. The association has a specific department earmarked towards helping merchants who have been faced with challenges by other processors.
“We’re thrilled to be working with National Merchants Association,” says Rick Stacy, owner of Stacy Furniture & Design. “We are confident that they will work diligently on our behalf to obtain the best merchantA business that accepts credit cards for goods or services. processing rates, while developing appropriate payment/delivery options to help reduce our chargebackThe act of reversing a sale made by the merchant. This can happen for many reasons including procedural and fraud. The process usually begins with a dispute from the cardholder. risk.”
Furniture retail is considered high riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. Examples of high risk merchants are telemarketing, adult and travel related industries. because the customer is often required to pay upfront and the product is delivered at a later date. Oftentimes, the furniture store is unable to warehouse the product and actually places an order with the distributor once the customer payment settles. Further, furniture stores tend to have chargebacks on large ticket items which many other merchantA business that accepts credit cards for goods or services. service providers try to avoid in this downturned economy.
“NMA is the best fit for Stacy Furniture because we truly understand the underwriting piece,” says NMA furniture agent, Jeffrey Sibio. “We can manage all of the mitigating factors to help offset the risk to receive approvals.”
Bankcard expert Heather Petersen, founder of NMA says, “At a time when our competitors were forced to terminate the merchantA business that accepts credit cards for goods or services. accounts of furniture stores due to risk exposure and high losses, we’ve stepped up to the plate with open arms and welcomed the high riskA merchant that is considered a high risk based upon the credit, product, method, ticket size or volume. Examples of high risk merchants are telemarketing, adult and travel related industries. business genre to work on behalf of these business owners who need help. We try to avoid requiring reserve accounts for these merchants unless absolutely necessary and we are easily integrate-able with most POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. systems in the market.”
How NMA Works NMA facilitates transactions for thousands of merchants nationwide and educates business owners about merchantA business that accepts credit cards for goods or services. services rules and regulations while reducing fees. Retailers pay a multitude of fees as part of doing business. They pay interchangeThe exchange of debit and credit transaction data between merchant banks and cardholder banks based on an agreement (governed by BASE II [VISA] or INET [MasterCard]) between the participants. The fees charged by the Issuer to the Acquirer. fees, PCI compliance fees, statement fees, customer service fees and/or debit access fees. While businesses cannot eliminate interchangeThe exchange of debit and credit transaction data between merchant banks and cardholder banks based on an agreement (governed by BASE II [VISA] or INET [MasterCard]) between the participants. The fees charged by the Issuer to the Acquirer. fees, they can avoid overpaying by having a third party group like NMA optimize their processing contracts.
Founded in 2004, NMA serves as an advocacy group for small and medium-sized business owners and is the only association in the United States working to eliminate the unnecessary and unreasonable costs associated with accepting credit cards. NMA operates nationwide through 17 regional offices, as it continues to dominate the retail independent sales organization space.
National Merchants Association – We work for you. It’s that simple.