Dharma Merchant Services is a credit card processing company that provides storefront, mobile and virtual payment solution plans to non profits, retail and businesses registered and operating in the United States. Some of its features and services include payment gateway, merchant account, mobile processing services, fundraising services, virtual terminals, customer database with credit card storage.
What’s Special About Dharma Merchant Services
- No long term agreements. All Dharma agreements are month-to-month agreements with no early termination fees.
- Low fees. Dharma merchant services does not charge account setup fees, annual fees, early termination fees, and none of its accounts require a monthly minimum.
- Quick funding. 2-business day funding is guaranteed for all merchants. If you accept $1,000 in payments on a Monday and submit those transactions to Dharma by 9pm Eastern time, you’ll see $1,000 deposited into your bank account by Wednesday.
- Online payments links. You can add a “Pay Now” or “Donate Now” button to your website with only a few clicks to create a quick-payment link so that your customers can send you payments.
- Dharma app. The app offers tip settings, signature settings, access to saved customer payment information, the ability to capture notes, email / text receipts to your customer, and see your transaction history.
Dharma does not support high risk businesses, including those with regulatory issues or those with a high risk of contested transactions. Find out merchants services supporting high risk businesses such as PaymentCloud and Durango Merchant Services. To be a Dharma Merchants Service customer, you must conduct at least $10,000 a month in credit card transactions.
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Dharma Merchant Services Products and Services
To use its services, you must first sign up for an account with them which takes two to three days to set up. Dharma offers the following set of products and services to its customers:
- Merchant Accounts. Dharma allows its clients to accept credit card payments.
- Credit Card Terminals. Dharma Merchant Services offers several countertop terminals for direct sale. The current EMV compliant models include the Fiserv FD-130, Verifone Vx520, and the Ingenico Desk/5000.
- Payment Gateway. Ecommerce merchants can choose between the NMI Gateway or Authorize.Net Payment Gateway. However, the NMI Gateway might be a better choice because it has a few more specialized features.
- Fundraising Services. Dharma has also partnered with 4aGoodCause to provide fundraising services for nonprofit organizations. These services range from donations to crowdfunding events. Dharma does this by setting you up with professional donation pages for web and mobile and event registration services.
- Customer Database with Credit Card Storage. Dharma offers a customer base that allows you to permanently and securely store detailed customer information. You can also save multiple cards per customer and keep payment records.
- MX Merchant. Every Dharma merchant account comes with the MX Merchant reporting system that features a virtual terminal, a customer database, online reporting, recurring billing, a mobile processing app, etc.
- Loans. Dharma partners with Kabbage to provide small businesses with a line of credit up to $150, 000.
- Mobile Processing Services. Dharma offers its MX Merchant Express app (available for both Android and iOS) those who prefer mobile to accept payments. The app pairs with the walker 2 card reader which accepts EMV, magstripe, and NFC-based payment methods.
If you want to accept crypto payments, find out Best Cryptocurrency Payments Gateways
Dharma Merchants Services Fees
Dharma Merchant Services pricing is transparent for all its products and services on its website. Dharma’s pricing plans are separated by business category, making it easier to choose the best plan for your business. The company does not charge account setup fees, annual fees, early termination fees, and none of its accounts require a monthly minimum.
Dharma’s Pricing Options
| Monthly Fee | Per Transaction Fee for Visa, Discover, and MasterCard | |
|---|---|---|
| Retail (Storefront) Rates | $25 per month | Interchange + 0.15% + $0.08 per transaction |
| Restaurant Rates | $25 per month | Interchange + 0.15% + $0.08 per transaction |
| E-commerce (Virtual) Rates | $25 per month | Interchange + 0.20% + $0.11 per transaction |
| High volume Retail Rates | $20 per month |
Other Dharma Merchant Services Fees
There are also other fees to pay with each plan type. Some of these other fees include the following:
- Gateway Fees. Dharma offers two payment gateway choices (NMI Gateway and Authorize.Net) and with each option, there are no set up fees. However, you will pay $10 per month after set up. For any sale made through the gateway, you pay $0.05 per transaction.
- Chargeback Fee. You will pay $20 per instance.
- Retrieval Fee. When you dispute a transaction, you pay $5 per instance.
- Permanent Account Closure Fee. Dharma imposes a $25 fee.
Dharma Merchant Services Customer Support
Dharma provides an excellent in-house telephone-based (866-615-5157) and live chat support from knowledgeable staff. These services are available from 8:00AM to 5:00PM Pacific Time (Monday through Friday). You can also reach the support team through email support@dharmams.com or submit a ticket from their website. In most cases, you might not even need the help of their support stuff because most issues and questions have been addressed through the Dharma’s knowledgebase section.
Dharma Customer Reviews
Dharma’s credit card processing customer reviews are mostly positive. Customers are satisfied with Dharma’s fair pricing, reliable customer service, high quality products and services, and security. The very few complaints that are rarely brought up are those on funding holds and equipment compatibility issues. Dharma Merchant Services has been rated 4.1 out of 5 stars on Trustpilot.
Is Dharma Merchant Services Safe to Use?
Yes. It uses features such as tokenization and encryption to ensure safe and secure credit card processing. Additionally, Dharma offers free PCI-compliant software to protect customers from fraud and to ensure businesses meet the standards set by the Payment Card Industry Data Security Standards Council.
Dharma Merchant Services Alternatives
Although Dharma Merchant Services is among the best credit card processing companies in the market, it may not be a good fit for your business. This may happen especially if your business is not operating in the U.S., if it is a high-risk business, or if your processing volume is less than $10, 000 per month. Some alternatives that can work for your business include the following:
Final Thoughts on Dharma Merchant Services Review
Dharma Merchant Account Services is among the most preferred credit card processing companies offering a high level of transparency. All its fees, rates, and contract terms are explained in details on its website. It is the ideal credit card processor ideal for high-volume businesses.
