Merchant Rewards Network - the Rewards Program that pays Merchants for accepting Credit Cards.
● MRN rewards you for simply accepting credit cards.
● MRN pays you Reward Dollars at a rate of 1% of each Visa and MasterCard you accept.
(ie. Process $10,000 in Visa and Mastercard transactions and receive $100 Reward Dollars).
● MRN empowers you with the ability to increase your business by acquiring products and services you want by spending Reward Dollars rather than cash.
2. What is the Merchant Rewards Marketplace?
This is your gateway to buy and sell the products and services you need with your Rewards Dollars. Also known as "The Marketplace".
3. What business types are eligible for membership?
Merchant Rewards Network only services and supports businesses within the United States of America.
You are eligible if you fall into one of the following categories:
● Businesses which accept credit cards as a form of payment.
● Businesses which provide products or services which are of value to other businesses and/or their owners.
● Charitable or Non-Profit Organizations interested in receiving donations.
4. How are Reward Dollars earned?
There are 2 ways in which you can earn Reward Dollars?
i. By simply accepting Visa and Mastercard as a form of payment, you will earn Reward Dollars for every transaction which is processed. Merchant Rewards Network will pay you (1% up to $50,000 per month in processing & 1/2% thereafter) of all your Visa & Mastercard processing volume in Reward Dollars.
ii. By listing and selling your products and/or services in the Marketplace, you will earn Reward Dollars while increasing your customer base and company exposure.
5. Do I have to pay taxes on my Reward Dollar income?
We report all transactions for our members to the IRS on a 1099b.
6. How do I find what I need?
The Merchant Rewards Network has a searchable Marketplace and member directory find the products and services you need. Merchants are encouraged to contact our Concierge Department for assistance in not only locating products and services, but getting the most value out of their Reward Dollars.
7. When can I sell my products or services? When can I buy?
You can list your products and services for sale as soon as you your account is activated. You can begin buying as soon as you have sufficient Reward Dollars to pay for the products and services you want to acquire. You may apply for a Reward Dollar credit line and have approval and access to use the funds immediatley.
8. Are there any tax advantages to paying for products or services with Reward Dollars?
There are no tax advantages or disadvantages to using Reward Dollars, only cash flow and capacity utilization efficiencies. Your Merchant Rewards Network account should be considered a marketing tool, not a tax tool. Cash purchases that are normally tax deductible as business expenses are also tax deductible when purchased with Reward Dollars.
9. How is my account managed?
The Merchant Rewards Network Marketplace features a complete online account management system. All of your transactions as buyer or seller are recorded and online statements are available in real time. You can receive monthly statements via email, fax or postal mail. You may also view your balance, post a sale to transfer Reward Dollars to your account, pay your fees and manage your listings and account information.
10. How do I value my products and services?
You price your products and services to be sold at the same value as you would price them for cash. One Reward Dollar is equal to one US dollar.
11. What if I need to make a purchase before I've earned Reward Dollars?
We encourage businesses to apply for a Reward Dollar line of credit. Once approved, you can begin purchasing immediately.
12. Can I use my Reward Dollars for my personal use?
Yes! Merchant Rewards Network allows you to stretch your personal budget or enhance your lifestyle. Examples of personal uses of Reward Dollars include things such as works of art, vacations, jewelry, gifts and entertainment.
13. Can I pay my employees with Rewards?
Yes! Merchant Rewards Network enables businesses to keep their employees motivated and satisfied by using their accounts to give bonuses and incentives.
14. What does it mean if a Member is currently not accepting Reward Dollars?
It may be a peak time for the company's cash business and they simply can't handle additional sales.
15. What if the desired product or service is more than the amount of reward dollars in my account?
You can utilize cash for the differential or request a cash advance that enables you to pay through your credit card processing over time based on your sales.
