Dharma Merchant Services is a merchant service provider that offers credit card processing solutions for B2B sales, storefronts, and restaurants. Its features include a virtual terminal and mobile app, high-volume rates, PCI compliance, online reporting, and next-day funding. Its monthly fees start at $20, and Dharma Merchant Services is best for brick and mortar business owners who want to save on processing fees.
Dharma Merchant Services Pros and Cons
A bit expensive for low-volume merchants
No annual fees
Selective approval process
No early cancellation fees
Does not support high-risk merchants
Who Dharma Merchant Services Is Best For
- Established brick and mortar business owners looking to save on processing fees: Based on a $100 sale, you can get a range of fees from as low as 64 cents to $2.96. Dharma Merchant Services also offers discounted pricing for businesses that process over $100,000 monthly.
Dharma Merchant Services Pricing
Dharma Merchant Services’ pricing page shows that it has a monthly fee of $20 plus additional usage-based fees that start at 0.15% + 7 cents per authorization—above interchange. Chargebacks cost $20 per instance, and merchants who process over $100,000 per month get a reduced rate of 0.10% + 5 cents per authorization.
0.20% + 10¢
0.15% + 7¢
0.15% + 7¢
0.10% + 5¢
Other additional fees may include the following:
- B2B Processing App: $20 per month
- Invoicing App: $10 per month
- Merchant Insights App: $10 per month
- ACH Processing: $25 per month
You can also purchase EMV terminals and pin pads directly from Dharma Merchant Services. These gadgets’ costs range from $179 (Verifone Vx520) to $649 (Clover Mini).
Author’s note: With low interchange-plus pricing and a free virtual terminal, Dharma has the cheapest credit card processing fees for restaurants and retailers that process over $10,000 per month.
Dharma Merchant Services Alternatives 2020
Dharma Merchant Services Features
The company provides payment processing and funding solutions for virtual, storefront, and restaurant merchants. Let’s take a look at some of Dharma Merchant Services’ features below.
Virtual terminal: Take payments efficiently by using Dharma Merchant Services’ “Quick Pay” button. You can enter your customer’s payment information (or associate a payment with a pre-defined customer) and instantly generate a receipt.
MX Merchant payment gateway: This is for merchants with very specific payment processing needs. It comes with a virtual terminal and an app for mobile processing and features recurring billing, email invoicing, subscription set up, and customer information update.
Mobile processing: You can utilize the provider’s MX Merchant Express app—an Android and iOS app for processing swiped, keyed, and dipped transactions while on-the-go.
Online reporting: Access pre-built reports and filters, such as deposit, customer, payment, and transaction reports. You can personalize your report parameters as needed.
Online payment links: Dharma Merchant Services enables you to create and manage as many payment links as you’d like. You can send the links via email or add them to your website code, which will allow your customers to pay you more efficiently.
Customer database: There’s no limit to the number of customer information that you can customize, store, and categorize. You can also keep historical payment records on a per-customer basis in case you need to locate past charges.
Integrations: Dharma Merchant Services integrates with Shopify POS, ShopeKeep, Lavu POS, Dinerware, Breadcrumb, Aloha, Vend POS, and more.
Which Merchant Services Provider Is Best for You?
Summary of Dharma Merchant Services Reviews
As of this writing (July 17, 2020), there are no up-to-date Dharma Merchant Services reviews from users available online. However, an industry review stated that its month-to-month billing and transparent pricing are highly appreciated. If you are a past or current Dharma Merchant Services customer, then leave a review to help those who are deciding whether or not to use the service.
Dharma Merchant Services Frequently Asked Questions (FAQs)
What documents are required to open a new Dharma Merchant Services account?
You need to submit a voided check or proof of your bank account in the form of a bank letter, proof of your legal entity (usually an IRS letter or any document with your EIN or Taxpayer ID number), and three months of current processing statements if you’re already accepting credit cards.
Does the provider offer any nonprofit solutions?
Yes, it does. Aside from discounted pricing, Dharma Merchant Services also offers website building solutions (in partnership with 4aGoodCause) for nonprofit donation pages.
What other small business services does Dharma Merchant Services offer?
The provider gives you access to small business funding, on-demand tax preparation, a digital loyalty system, and more.
Our Top Merchant Services Picks
If you aren’t sure if Dharma Merchant Services is right for you, then this article on the best merchant services providers for small business is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, ease of use, customer service, and features—such as reporting tools—among others.
Disclaimer: The following information was provided by Dharma Merchant Services and does not necessarily reflect the views of FitSmallBusiness.com.
What is Dharma Merchant Services?
Dharma Merchant Services is a payment processor servicing retailers, restaurants, b2b merchants, and eCommerce retailers with a variety of processing options. We pride ourselves on transparency, integrity, and technology. This displays itself with month-to-month agreements, no hidden fees, low interchange-plus pricing models, and a variety of equipment options to meet every merchants needs. All accounts come with extensive back-end tools such as mobile processing, credit card vaulting, integrated PCI compliance, and detailed reporting. We offer advanced services like invoicing, level 3 processing, and more. Non-commissioned salespeople will walk you through account setup and integration, with the goal of creating a smooth and fast account setup. We offer Point of sale systems, credit card terminals, payment gateways, and a variety of other payment acceptance options. As a certified Benefit corporation, we also donate a significant portion of our profits to the nonprofit community every year.
Dharma Merchant Services News & Activity
Dharma is proud to feature MX Merchant (here) as a compliment to all new accounts. Easily run payments anytime, anywhere you have internet access, on any device. B2B merchants also can enable automatic level 2/3 qualification which can reduce interchange rates by an additional 20% – 40%. Since Dharma only has non-commissioned employees, you can count on unbiased advice. We’re a certified B-corp and Benefit corp (that’s not easy to get!) and we’re also listed as an A+ BBB company.
Dharma Merchant Services Customer Service
We provide a dedicated support team and 24 hour customer support to all merchants. All new merchants get online access, a Virtual Terminal, free Mobile Processing, and access to additional tools to help manage your business like Invoicing and Recurring billing.
Dharma Merchant Services Unique Features
We post all rates (have been doing so since inception)
No start-up or closing fees, no term agreements
No hidden fees (annual, minimums, batch, AVS, PCI, etc – none of that)
Personalized startup with a free cost comparison and in depth cost analysis
Easy sign-up with DocuSign and a quick turnaround
We operate as a B-corp/Benefit corp, with a “triple bottom line” – people, planet, profits
We value education, and ensure you understand everything about a new account
Dedicated support to help you integrate and get up and running
No rate increases, no hidden fees
Great back-end technology with detailed reporting