What is PMoney?
PMoney is mobile living. It’s an exciting pay-by-phone solution that allows your business to Pay, Save, Earn…
Why should you accept PMoney?
PMoney doesn’t replace any of your current acceptance methods; it simply adds to them. PMoney is a new and more cost-effective currency.
Pay: You can now accept payments from customers using their mobile phone number as their payment method. Reduce checkout traffic and improve the customer experience. Customers will no longer have to pull out their wallet or fumble through their purse to make a purchase.
Save: The average merchant currently pays between 2-3% to accept most credit card types. PMoney transactions are 0.5%, reducing your fees by up to 70%.
Earn: Generate a recurring revenue stream by promoting PMoney as a payment type. Every time you refer a new customer to sign up for PMoney, their account is linked to your business. Everywhere they spend PMoney you will receive .05% of their purchases for the lifetime of those accounts.
How do I sign up?
In order to start receiving PMoney payments, all your business needs is an internet accessible PC and to follow these simple steps:
- Register at PMoney.com
- Download the Mobile Authorization Payment System (MAPS) Application
- Add PMoney tender type in your POS settings
Once your registration is complete, you will be assigned a PMoney Business ID# (BID). Display your Business ID on your website and storefront. You will be provided with the necessary display vehicles such as web links, table tents, and stickers.
Is PMoney compatible with my POS system?
PMoney was built to work with any processor or POS system. In order to track PMoney transactions in your POS system, simply add a “tender type” in your POS settings (just as you would for accepting gift cards). By adding a “PMoney” tender type to your POS, you can track your PMoney sales. If you run into issues adding a tender type to your POS, please contact us or your POS provider and ask, “How do I add a tender type?”
Do I have to change my processor to accept PMoney?
Although there are numerous benefits to converting to Elavon as your merchant services provider, changing your processor is not required. We are happy to complete a complimentary cost analysis to illustrate a potential savings. If you are interested in seeing what we have to offer, please contact a Relationship Manager at (800) 834-7790 ext. 1 or firstname.lastname@example.org for a free quote.
How can I monitor my transactions?
Every merchant will be provided with a PMoney administration account that will enable you to track your transactions and trends.
Mobile Authorization Payment System (MAPS) is a downloadable application that is works parallel with any POS system. MAPS will minimize or maximize over your traditional POS screens. The checkout process works like any other transaction. When a customer makes a PMoney purchase, you will receive a pop up payment notification on your MAPS application indicating “Payment Received”. Simply confirm payment by issuing an email/text receipt or by verifying ID. Tender the transaction in your POS system as “PMoney” and issue the customer their itemized receipt.
What do I need to start accepting PMoney?
In order to start accepting PMoney payments, all your business needs is an internet accessible PC. Checkout your customer as you would for any other purchase. During checkout, the customer has 3 payments options depending on your merchant setup:
Option 1. Mobile Authorization Payment System (MAPS) Universal - No Integration Required:
Customer accesses their PMoney app on their mobile phone. They choose “Pay a Business”, enter your Business ID# and the amount owed. You will receive a pop up payment notification on your MAPS application indicating “Payment Received”. Select your receipt type and minimize MAPS to return to your POS screen.
Option 2. Barcode Scan – POS that is fully integrated with Elavon required:
Customer presents mobile phone with their PMoney Card displayed. Simply scan the barcode on the screen and you’re done! (This option is available for businesses using a POS software that is integrated with Elavon)
Option 3. Customer Facing Terminal POS that is fully integrated with Elavon required:
If you have an Elavon customer facing terminal, the customer chooses PMoney as their payment method, enters their mobile phone number and 4-digit PIN. Funds are transferred immediately.
How will I know when I receive a payment?
When a customer makes a PMoney purchase, you will receive payment notification through your Mobile Authorization Payment System (MAPS) and/or your PMoney Portal at PMoney.com. MAPS serves as a payment notification system allowing you to issue immediate text and email receipts. Your PMoney Portal offers more comprehensive reporting and in-depth analytics.
Will I still be able to give my customers receipts?
The customer can be issued an itemized paper receipt from the POS and/or a text/email receipt from PMoney.
Can I issue refunds using PMoney?
Refunds can only be issued through your PMoney backend. Each transaction has an adjacent “Refund” button.
How much will it cost to get set up?
It costs nothing to begin accepting PMoney payments. Merchants pay only 0.5% with no per item fee for all PMoney transactions.
PMoney Platform Packages
Browse our PMoney Product menu to select the platforms that best suit your business. Platforms can be purchased as packages or independently.
Can I accept other mobile payment solutions as well?
You can accept additional mobile payment solutions, but don’t be fooled; you will pay hefty credit card and ancillary fees for other solutions. PMoney is your ticket to reducing your fees by 70%!