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Welcome! |

FAQ - Frequently Asked Questions

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What is eQuotz®?
eQuotz® is an online auction service for Merchants, Sales Representatives, Processors and Financial Institutions. We provide services through an interactive site designed for any size or type of merchant who wants to actively manage and simplify their payments business. But more importantly who wish to reduce their overall payment expenses!
Our product focus is on Credit Card Processing, Business Credit Cards, Working Capital Advances, Equipment Leasing, Equipment Purchasing and on-line Payroll Processing.
What is so unique about eQuotz®?
Our primary product is focused on Credit Card Processing, which encompasses setting up a Merchant Account to accept Visa, MasterCard, American Express & Discover. You receive the benefit of having national exposure to the top financial institutions and merchant processors in the U.S., who will offer you an onLine quote for your merchant account. We provide you the online tools using our industry knowledge and technology whereby by you can cut to the bottom line of how much money you will pay on a monthly basis to accept Credit Cards. Of course, there is NO CHARGE TO YOU THE MERCHANT TO USE eQuotz®.
eQuotz® takes all the bids from 5 to 500 that you choose to receive. We then calculate what your monthly estimated expense will be for each bid. The process of calculating your estimated monthly expense is very complicated and is based upon eQuotz® patented technology. The process takes into consideration approximately 17 various billing fees you are assessed by the Bank or Processor, the type of pricing plan being offered such as interchange pass through or a bundled rate program, the blend of cards that are accepted for Consumer Cards, Check Cards, and Rewards Cards and the blend of Visa, MasterCard, Discover and American Express cards that you will accept.
Lastly, eQuotz® determines the Qualified, Partial Qualified and Non Qualified blend for all the card types you accept and calculates the appropriate interchange qualification levels. There can be as many as 280 various permutations that apply to this last step. eQuotz® distills them all down to ONE MONTHLY FEE that you will pay the Bank or Processor. No more guessing which proposal is better and what your monthly expenses might be. eQuotz® levels the playing field and removes the guessing from the bidding process. The Bottom Line is – YOU GET THE BEST POSSIBLE PRICE and are in COMPLETE CONTROL.
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What are the Features for Sales Representatives using eQuotz®?
With rising interchange rates, increased sales and marketing expenses, and eroding profit margins it has become necessary to look towards alternative means to generate affordable lead generation opportunities for Sales Representatives, Processors and Banks. eQuotz® delivers the leads and you submit the bids. It is that Simple! The best part about eQuotz® is that you do not pay to "Bid" on a merchant. You pay only if you are selected by the merchant as the “Winner”.
The main features of the service for Sales Representatives are:

- You and the merchant can print out a Standardized Proposal and can make a one to one comparison on pricing and services. eQuotz® levels the playing field for all     bidders.

- eQuotz® will show you and the Merchant approximately how much money will be spent on a monthly basis for Merchant Processing. Along with this, you can view your    estimated revenues and processing expenses.

- The eQuotz® portal allows Merchants to provide feedback on your performance. Your overall bid ranking for each Merchant will be based on your pricing and feedback    score.

- Our Macro Pricing Model helps you view 15 interchange categories ranging from retail and restaurants to schools and service stations.

- eQuotz® Micro Pricing Model enables you to enter your processing expenses and your quoted expenses to the merchant and then view the results.

- The Statement Analysis Model helps you enter the Merchants current Processor's Merchant Statement following which you can enter your pricing for each of the current    billing   elements.

- The Portfolio Acquisition Model on eQuotz® helps you determine the value of your portfolio or how much you would spend to acquire a merchant portfolio.

What are the benefits for Sales Representatives using eQuotz®?
The advantages for sales representatives utilizing our services are many.

- As a sales representative the primary advantage gained through your association with eQuotz® is exposure to a large database of leads.

- We provide highly economical services where you have a flat monthly, annual and sliding scale fee for each merchant that you sign up for Merchant Processing    Services. In the   process, you save at least $100 for each account you sign using eQuotz®. This helps you reduce your marketing and sales expense while increasing    revenues. The best part   is you pay only when you sign up a merchant.

- We provide a platform for Merchants to have national exposure to Top Financial institutions, Merchant Processors and their Sales Representatives in the U.S. With our  eQuotz®   patented technology.

How does a Sales Representative Enroll with eQuotz®?

- Step One : Complete the Subscriber Application. Sections include:

    1. Sales Representative background
    2. Corporate background
    3. Sales Representative home information
    4. Billing, Visa & MasterCard sponsoring information
    5. Merchant Processing demographics
    6. Auction options
    7. Pricing templates
    8. Features and benefits

  These eight easy steps should take no more than 3 to 4 minutes to complete. Please keep in mind; the reason for the detailed questions is to provide the merchants   with sufficient details to receive an accurate price quote and detailed proposal. It is worth mentioning that NONE of Merchants see your name, address or phone   number until they   have selected the top 5 to 10 bidders. Additionally, you can chose to exclude bids from certain SIC Codes and selected geographic areas though out   the country.

- Step Two : Log on to eQuotz® and go to the "Subscriber Open Bidding Summary". From this screen you have the ability to submit quotes to hundreds of merchants.   During the open auction, neither the merchant nor you has access to the either's contact information.

- Step Three : Select any of the merchants that you wish to submit a bid to. You can monitor your bid ranking by simply refreshing the subscriber open bidding summary   screen.  After the auction has closed, the merchant will select the top five to ten bidders. At which time (if you are selected as a top bidder) you and the merchant will   then have access to   each other's contact information.

- Step Four : Review the "Subscriber Pending Bidding Summary". This report allows you the ability to see if you have been selected as a top bidder by the merchant. If so,   you  will need to contact the merchant and close the sale.

- Step Five : After you have closed the sale, you will need notify eQuotz® that you have been awarded the Credit Card Processing Business for the merchant. This last    step ensures accurate and timely billing but also allows eQuotz® to notify other sales representatives that the merchant has made a decision. Therefore, the sales   representative   can move on to other opportunities and not waste their time on a lost opportunity.

- Step Six : On a monthly basis you will be debited for usage of the eQuotz® Service.

What is the cost for Sales Representatives to use eQuotz®
No Hidden Charges! There is an initial set up fee, a flat monthly and annual fee and a sliding scale fee for each merchant that you sign up for Merchant Processing Services. There are several different packages that a Sales Representative can sign up for. (Please see Agreement for a complete list of Packages) The best part of the whole concept is that You Pay only when you sign the merchant up merchant using the eQuotz® Service!
What are the Contractual Terms for a Sales Representative?
All agreements are for six months and renew automatically. Should you chose not to renew 90 days is required to terminate your agreement.
When Does the Sales Representative receive a bill?
Sales Representative will have access to their monthly invoice on the 1st day following the prior month via electronic reporting. eQuotz® will initiate debit entries to your bank account on the first Business day of each month. If either date falls on a weekend or holiday, then debit entries shall be initiated the next proceeding business day. In the event of an ACH Reject / Non Sufficient Funds, eQuotz® shall attempt three debits to collect for services rendered. There will be a $35.00 charge for each ACH Reject.
Can you explain the Sales Representative Billing Cycle?
When a Sales Representative registers with eQuotz® in the middle of a month they will be able to see their first invoice the proceeding month starting on the first calendar day. The first invoice will at a minimum contain an Initiation Fee. (Monthly Fees are always billed in the arrears) However, the Sales Representative shall not be billed a Monthly Charge for their first month of service. Since each Agreement is for six months, the first invoice date is considered the starting date for the initial term. The Agreement shall automatically renew for six months terms unless the Sales Representative provides ninety days notice prior to the expiration of the agreement that wish to terminate.
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Notice to users of the eQuotz® service: eQuotz®, its owners, employees, officers and directors are not responsible or liable for the services provided as a part of this website. The Website is to bring together merchants and acquirers for prospective business arrangements. Accordingly, eQuotz® is not responsible for the information related to any merchant or acquirer, for any quotes or subsequent pricing or for the quality of any services provided by any subscriber or user of the eQuotz® website, either merchant or acquirer. Use of this site constitutes the agreement of the user to deal with the acquirer and to hold Eqoutz, its officers, directors and employees harmless from any claims of any nature whatsoever.
Thank You
We certainly appreciate you taking the time to visit and use the eQuotz® product. We are confident this experience will save you money and improve the quality of your merchant account processing. If you agree with us, we would be very grateful if you would pass along the eQuotz® name as a referral to one of your business associates. However, if you feel that we did not completely meet your expectation, we want to hear about it help@equotz.com. Again, thank you for Your business!