Dharma Merchant Services is one of the first certified B Corporations (as of January 16, 2012, only 15 days after it came into legal effect), under the California Corporations Code, a law whose ultimate intent was designed towards freeing the directors from the sole pursuit of bottom line financial performance for shareholders. Additionally B Corporations take into consideration the greater benefit to the public combined with positive material impact on society or the environment.
They are also a Green America Green Business Leader of the Year. Their mission is to serve with integrity and provide complete transparency. Dharma Merchant Services strives to reduce their ecological footprint and to partner with sustainable business partners. Naturally you will want to get on board with this progressive company which supports businesses that are trying to make positive changes in the world.
Their proven track record shows that they provide payment processing services emphasizing their fundamental beliefs, which are fairness, respect, and compassion. Just to drive the point home, Dharma makes it a point to donate a worthy percentage of its net profits every year to worthy charities ($100,000 in 2016).
If that is not enough, their focus on their employees is remarkable, providing staff members (with two years of tenure) a stock incentive ownership program, which will reward employees upon transition of the company. In addition, all employees participate in company paid full health insurance benefits with maximum annual HSA contributions, paid commuting passes, paid gym memberships, company lunches, and generous annual bonuses.
The list goes on! They promote the non-profit organizations which they work with to their entire customer base when offering choices for annual beneficiaries; they allow their non-profit merchants to have their fee portion that would be steered to charity go right back into their own pockets; and all their non-profits get additional discounts over and above their already low rates.
Dharma works closely with many B2B clients to help get the lowest rates possible. We offer the MX Merchant system using the B2B app for easy, simple B2B acceptance and access to low B2B Interchange rates. Our team is trained in helping your business keep costs low, based on your business type, acceptance methods, and more. Let our analysts review your current processing statements to locate potential rate reductions and hidden fees from your current provider. Plus, we’ll provide guidance in finding a solution that will allow your business to streamline your payment acceptance. Many businesses don’t realize that they’re treated differently by Visa/MasterCard when processing B2B payments.
Their prices are calculated with the “Interchange Cost Plus” approach, which means the base rate charged by the card suppliers, such as VISA and MasterCard that everyone must pay, plus a small fixed rate and a transaction fee of a few cents (typically in the 25-30¢ range). Unlike other merchant service providers there are no classes or categories or artificially low “base rates” (that are seldom applied as fee-after-fee is added). This tier-less model is perhaps more aptly called tear-less as you’ll never be unhappy like you might be with other less-scrupulous providers.
More importantly, they accept all comers with open arms. They have a strong bias for green organizations and non-profits, and companies run by women, but there is no reason that you cannot profit (or at least save) by using their facilities. Approvals take only 48 hours in most cases, but they ask that you phone one of their friendly representatives to help you get all the necessary details right the first time to speed the process as much as possible.
Another terrific benefit is that they credit your gross sale amount in just two business day after a transaction takes place. They take their fees monthly in a lump sum, which makes monthly reconciliation a breeze. If you like, you can even have them bill daily instead of monthly, and as a reward for not making them wait until month-end, they’ll give you a further discount. They even have the OptBlue system for AMEX which allows you to get funded for AMEX transactions with your regular VISA and MasterCard payments, and in the same foreshortened payment window of a mere two days! And all this without separate statements!
There is no stress involved with your PCI compliance if you’re using future-ready equipment. Since it will soon be forbidden to use the store-and-forward method, if you haven’t switched yet, it is required within a few months at most. Dharma can provide you with appropriate equipment at terrific prices ($249-$349) programed and ready-to-go), or if your system is compliant with current regulations, they can reprogram it for you at a reasonable cost. Dharma also includes free iPhone processing with all new accounts, and swipers are only $99 each (here). They also include a free Virtual Terminal with all new accounts as well.
If you use another payment gateway, they can help you set it up, though they recommend Authorize.net as the most flexible system that allows you to process VISA, MasterCard, Discover, and AMEX for the least expense. And of course their recommended VeriFone Vx520 fully EMV-capable system is set up to process Apple Pay and NFC (Tap-n-Go)