Moolah is a mobile credit card processor that works closely with Authorize.net, one of the industry's largest payment gateway providers. When you sign up for an account with Moolah, you also receive an Authorize.net payment gateway with your account. Moolah has its own branded app for Apple users, but Android users must use the Authorize.net app for mobile processing. Moolah has good customer service and respectable rates and fees.
When you sign up to accept mobile credit card payments with Moolah, you're provided a free card reader. Moolah doesn't yet offer an EMV reader but is developing one; this service will notify its merchants when that equipment is available.
Moolah has a single flat fee for all transactions. Regardless of whether the customer makes a purchase with a debit, credit or rewards cards, each transaction has a 2.89 percent processing rate and a $0.29 per-transaction fee. Transactions that need to be keyed-in have this same rate. This rate is slightly above average, and the per-transaction fee is higher than a lot of the other mobile processors that included per-transaction fees.
While the processing costs may be high, they're offset by the absence of any other fees. You don't have to pay a monthly fee, PCI-compliance fee or monthly minimum.
We rate processors on how transparent they are with the information they provide on their websites as well as if that information is consistent with what our reviewers are provided with when they call and email the company. Although Moolah posts information about its rates and fees online, it doesn't post its terms.
Moolah's setup and service terms are its biggest disadvantage. It can take up to 72 hours for your account to be approved, and if you don't have a website, you must send in some marketing material with your application. Once your account has been approved and you start accepting credit cards, it can take up to three days for funds to be deposited into your account. These are both longer waits than the best processors offer.
One bright spot with Moolah is that you aren't required to sign a contract. This gives you the flexibility to move on if this processor doesn't meet your needs.
Moolah has above-average customer service, providing you with 24/7 phone support and a dedicated account rep. This is a rarity as most mobile processors don't offer these features. When we spoke to Moolah reps, our contacts were helpful and well informed, though their response to online inquiries were inconsistent. It's best to call Moolah directly if you have questions.
Moolah has a single flat rate processing fee that is higher than other processors but applies to all transactions regardless of card type. Moolah also has high-quality customer service.
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