Transfs.com has recently launched a free iPhone application. Transfs is a web site auction site for services. The way it works is a merchant fills out a bid form and submits it. Then the processors TransFS has in its system evaluates the customer’s processing information, such as volume and makes a bid. Once the auction has ended, the merchant then selects the processor they want to do business with. The chosen processor is then given the merchant’s personal contact information to continue the setup process.
Transfs has now released an iPhone application that merchants can use to utilize their web site and their services. I find the whole concept of their service interesting as I have always had a difficult time explaining the Interchange plus pricing program to most merchants and that is what their entire service is about, Interchange plus pricing quotes. It is indeed the best pricing program for any merchant, but many cannot grasp the concept of it and many times still prefer the 3-tiered pricing model for it is easier to grasp and understand.