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ZERO COST CREDIT ADDENDUM
The Zero Cost Credit Addendum is required in order to obtain the fully compliant software to pass through the credit card fees.
No contract. No termination fee.
ZERO COST CREDIT ADDENDUM RECOMMENDATIONS
The Zero Cost Credit Addendum is only required if your business wants to utilize our surcharging software that will allow you to systematically pass through the expense of the credit card to the customer.
PLEASE READ CAREFULLY BEFORE COMPLETING THE DOCUMENT
Enter the legal entity and business information.
Enter the owner's social security number, birthdate, and home address.
Enter the contact person's first name, last name, phone number, and email address. This contact information is specifically for the contact person at the business who is responsible for overseeing the daily credit and debit card transactions.
Pricing information is fixed and is the same for all clients in the US. When consumers make payments by credit card, your business will collect a credit card fee 3.50%. Your business's cost on consumer debit card transactions is 1.00% plus $0.25 per transaction. The monthly portal subscription fee is based on the following table using average monthly processing volume.
Monthly Volume ($0 - $10,000) : Subscription Fee = $49
Monthly Volume ($10,000 - $25,000) : Subscription Fee = $79
Monthly Volume ($25,000 - $50,000) : Subscription Fee = $119
Monthly Volume ($50,000 - $100,000) : Subscription Fee = $249
Monthly Volume ($100,000 - $250,000) : Subscription Fee = $349
Monthly Volume ($250,000 - $500,000) : Subscription Fee = $599
Monthly Volume ($500,000 - $1,000,000) : Subscription Fee = $899
* Commercial debit cards, because of a higher rate charged by the issuing banks, cost 3.38%. Key entered debit transactions on the CardX terminal do not qualify for the 1.00% plus $0.25 rate. To achieve the 1.00% plus $0.25 rate for keyed entry, we invite you to sign for the virtual terminal at no additional cost.
The options for payment types are Visa, Mastercard, American Express, and Discover. By default, all payment types are activates. Please remove any of the check boxes if you wish to disable one or more of the payment types.
Please approximate your business's anticipated card payment volume. These fields will match with the payment volume fields entered into the secure Velocity Processing online application.
Velocity Processing will select the appropriate check boxes for the equipment and software setup. Please indicate if you would like to add any of the preselected custom fields on your payment form. To discuss advanced options for customized fields, please contact our office at 305-917-7000.
Please provide your business's banking information so that electronic debits and credits can be linked to your bank account in accordance with your CardX agreement.
Sign and date this section only if you selected the CARDX TERMINAL option in the previous section, otherwise leave it blank.
Please use this section to note any special instructions regarding your CardX account.
Sign and date this section acknowledging that you agree to the terms and conditions of CardX, our Zero Cost Credit partner.
DOWNLOAD THE CARDX ZERO COST CREDIT ADDENDUM
CardX Client App ZCC (pdf)
DownloadVelocity Processing is a registered Independent Sales Organization (ISO) / Member Service Provider (MSP) of Elavon, Inc. Georgia, a wholly owned subsidiary of U.S. Bancorp, Minneapolis, MN. Elavon has been processing electronic payments for 35 years and maintains an "A+" rating with the Better Business Bureau.
"Visa", "MasterCard", "American Express", "Discover", "OptBlue", "Apple Pay", "VeriFone", "ARB", "CIM", "PulsePoint", "Global Learning Lab", and "CardX" are trademarks and/or service marks of their respective owners.