AMG Payment Solutions Receives National Merchant Processing Services Contract through NCPA
AMG Payment Solutions (AMG) recently signed a three-year contract with the National Cooperative Purchasing Alliance (NCPA). AMG will provide merchant processing services to NCPA members throughout the United States.
As the U.S. recovers from the COVID-19 pandemic, cities across the country are looking for ways to reduce operating expenses. AMG can provide immediate financial relief to cities with paid on- / off-street parking programs.
For NCPA, the AMG partnership can assist members for the following reasons:
Processing a $1-$7 parking transaction is unlike processing any other transaction.
The reason for this is the micro size or “small ticket” nature of the transaction.
Cities have no choice but to utilize a merchant account to work with their parking hardware / software / pay-by-cell providers to enable customers to pay with plastic.
There is no need to pay more for this simple commodity service.
AMG Solution:
AMG’s First Data platform utilizes preferred interchange pricing from both Visa and MasterCard.
For small ticket “regulated” debit card transactions, AMG clients pay interchange of 1.70% + $0.05 per transaction versus the published interchange rate of 0.05% + $0.22 per transaction.
On a $3 parking transaction conducted with a “regulated” debit card, AMG clients pay $0.13 less in interchange than they would with any other provider.
Parking customers are using a “regulated” debit card between 25%-65% of the time.
AMG can reduce month end processing fees by 20% - 50%.
AMG’s value proposition is unique and unlike anything else in the merchant processing industry and the parking industry. AMG is proud to provide client references from over 150 U.S. Cities.
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