Q. What is TransFreedom™?
A. TransFreedom is serious savings made simple by an innovative pricing package from TransFirst. It clarifies merchant billing by bundling several individual monthly charges into one low monthly fee. Reconciling your statement is easy when there are no hidden fees or charges to confuse you.
Q. What is the monthly fee for TransFreedom?
A. Your monthly TransFreedom fee is based on your monthly payment card processing volume and your average ticket size. Your TransFreedom fee can be as low as $79.*
Q. What kind of savings can I expect with TransFreedom?
A. That depends on your monthly processing volume, but you can save up to a third over typical processing and reconciliation fees charged by other payment card processors. In addition to financial savings, you also save time on statement reconciliation each month — time that you can invest in growing your business and boosting your bottom line.
Q. Who is eligible for TransFreedom?
A. Retail or mail order/telephone order merchants that process $20,000 or less on a monthly basis are eligible for TransFreedom. However, seasonal merchants are not eligible.
Q. What are some of the services and fees included in the TransFreedom bundle?
A. The TransFreedom flat-fee bundle includes Visa®, MasterCard® and Discover® processing fees as well as PIN processing fees. It also covers online reporting access, batch closing fees, PCI Compliance Program fee, Data Breach Security Program fee, statement fee, services fees and annual fee. Three rolls of paper each month are also included in the bundle fee.
Q. What fees/charges are not included in the TransFreedom bundle?
A. The TransFreedom package does not include American Express® fees, ACH or ACH return fees and change fees, chargeback or retrieval fees, gateway fees (other than TransAction Central™) and other value-added service fees such as wireless carrier, check services or gift cards.
Q. What happens if my monthly processing volume goes over my TransFreedom plan limit?
A. When you start with TransFreedom, you choose your pricing tier based on your current processing volume and average ticket size. If your volume exceeds your tier maximum during any month, the program provides up to $1,000 of free bonus volume. When your monthly volume exceeds your tier maximum plus the free bonus volume, additional volume purchase billing applies at a rate of $20 for each $500 in additional processing volume.
Q. My processing volume varies depending on the time of year. Am I able to change my pricing tier to reflect the volume changes?
A. With TransFreedom, you have the flexibility to pay as you grow. Just select the tier that matches your needs, or purchase additional volume incrementally as needed.
Q. Once I'm with TransFreedom, will a transaction downgrade lead to additional fees?
A. No, it will not. Your TransFreedom fee covers any potential manual entry fees or other surcharges and interchange fees that would normally change with a transaction downgrade. TransFirst encourages all our merchants to observe best practices for all transactions to help reduce chargebacks.
Q. What do the PCI Compliance and Data Breach Security Programs cover?
A. TransFirst includes two important programs — PCI Compliance and Data Breach Security — in the bundled TransFreedom pricing. The PCI Compliance Program helps merchants achieve, certify and maintain compliance with mandatory Payment Card Industry Data Security Standard (PCI DSS) requirements. Services include an online portal to complete a required self-assessment questionnaire (SAQ), network vulnerability scanning for all merchants with external-facing IP addresses and sample security policy resources. Our Data Breach Security Program helps to shield merchants from the costly fees and fines for the most common forms of data breach. It provides up to $100,000 in coverage per location for any fines or penalties levied by the credit card associations, card replacement costs and related expenses, the costs of security assessments by qualified security assessors and/or forensic audits plus post-breach service expenses.
* This rate is based on monthly processing volume and average ticket size. In addition to your TransFreedom Monthly Fee, Automatic Volume Purchase billing may apply to volume processed in excess of the current pricing tier at a rate of $20.00 per every $500.00 in additional processed volume. No refund will be provided if the actual volume is lower than the Tier Maximum of the plan. Certain restrictions and exclusions apply. Merchant account is subject to credit approval. Offer subject to change without notice. TransFirst reserves the right to approve all accounts.
