Sams Club Merchant Services Review

Sams Club Merchant Accounts

Sams Club Merchant Services Review: Sam’s Club sells wholesale products. Way back 10 years ago, they began to supply members with merchant account services. They don’t have their own payment processing. They resell the services of another credit card processor:First Data. They’ve been reselling the services of First Data since about 2015. Here is their joint press release if you’re interested. How well are they doing in this business? Well Sam’s Club Retailer Services has supplied services to over 50,000 members according to their website. But the only thing that Sam’s Club provides for its merchant services is its brand name. Everything else is from First Data with little or no change from what we can tell. Let’s get into the products and services that Sams Club offers for merchant accounts. Here are some links to the Sams Club website for your additional information below. If you want to see other Merchant Account providers go here.

Sams Club Websites

Sams Club Website This is the website that explains the entire program. Here you can see their pricing, connect with a live person to help you understand what is being sold. Its worth taking a few minutes to go to this site if you’re thinking about Sams Club Merchant Services.

Help Website for Sams ClubThis is the help site for people who are already using their merchant services products. Before signing up with a payment processor we always suggest looking through their help materials and seeing if they are adequate for your needs. We also suggest doing an online search for any complaints or compliments about the services.

Products and Services

Everything that is offered comes from their partnership with First Data. We don’t see a lot of differences between Sams Club’s offerings and First Data. First Data is a major payment processor. They are a 1000 pound gorilla in the payment processing business with a long history. So you know that you’ve got a strong company backing up the services that are offered. Having said that its a good idea to shop around as the payment processing business is pretty crowded with new companies and services.

Merchant accounts

Terminal rentals/sales: Sam’s Club, being partnered with First Data, only uses Clover line of terminals. We suggest against renting terminals. You can buy a sufficient terminal online and you’ll pay less for it over the long run. The terminals you buy online even have all the features that you need. They will have credit card swipe, receipt printer, NFC and EMV credit card capability. First Data even sells its own terminal online. So you really should shop online before signing up for a terminal rental agreement.

POS applications

First Data’s POS is completely incorporated into their terminals and is relevant to a broad assortment of companies.

On-Line reporting

Offered through ClientLine and marketed as a complimentary service. Online reporting is pretty standard from most payment processors these days. Its not really a service. But its actually a way of answering your questions about your transactions. It help the payment processor but it also help you understand your business faster than dialing a number.

Mobile processing

The mobile payment processing options are available. They appear to be the Clover products offered by First Data. Clover offers a wide range of services and devices. Its worth checking them out.

ECommerce Options

Fees and Rates

Just in relation to rates or fees, Sam’s Club will not reveal much like First Data. Nevertheless, they do have a tool that retailers can input some fundamental retailer comments and then it tells them the one of two strategies that would suit them best: ValueRate Strategy or OneRate.

OneRate Strategy

Rates beginning at $ 19
No downgrades or surcharges
No monthly minimums
No added processing fees
No early termination fees
ValueRate Strategy

Rates beginning at 1.29% $0.15 per trade
$5 monthly minimum
No early termination fees
Tools like these can be interesting. Tools like these can appear helpful. Tools like these are frequently too great to be accurate. Don’t forget to read the fine print! Gimmicks like these aren’t consistently an one size fits all type of deal. If you’re able to, attempt to get an interchange-plus deal rather than the tiered strategies that are publicized.

Be careful for the fine print recorded on the pricing page. There are ticket size limitations and volume limitations that impact the pricing that is advertised. For the OneRate strategy, these terms apply:
Rates are legal for Sam’s Club members. $19 rate applies to processing up to $800 in monthly quantity in Discover, Visa and MasterCard trades. American Express trades priced individually. Higher flat rate pricing accessible for companies processing at a higher quantity. Qualifications and rates are subject to change without notice. All retailers have to finish a retailer application and are subject to acceptance and underwriting. Additional fees may apply. Fees and all rates are subject to change in accordance with the conditions of the Merchant Agreement. Processing services supplied exclusively by First Data.

Rates are legal for Sam’s Club members. Mandate fee and rate applies to retail card-present transactions with an average ticket up to $350. American Express trades priced individually. Some company kinds are subject to different rates. Rates listed are for qualified trades just. Qualifications and rates are subject to change without notice. All retailers have to finish a retailer application and are subject to acceptance and underwriting. Additional fees may apply. Fees and all rates are subject to change in accordance with the conditions of the Merchant Agreement. Processing services supplied exclusively by First Data.

Contract Duration and Early Termination Fee

Sam’s Club doesn’t advertise any contract duration, but three years is generally the industry standard. What it does advertise is no early termination fees. Yet, a quick Google search will let you know that, in several cases, there is absolutely no early termination fee as long as services are canceled within 90 days of beginning. We’ll come back to that, although a $90 fee is implemented beyond that which is below industry standard.

Customer Service and Technical Support

While Sam’s Club advertises 24/7 phone support as well as email and chat alternatives

Another payment processor we will review is Chase Paymentech. Here is our review.