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’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.