Elliott Forman is the founder of Bonita Payments, a firm that provides seamless and feature-rich merchant processing solutions to small-to-medium sizes enterprises. Bonita is leading the industry with transparent pricing and quick turnaround times on the setup of POS stations, amongst many other benefits.
Elliott Forman answered some questions about Bonita Payments and what it does differently.
Hi Elliott, what’s your background and proudest achievements in the world of business?
I am a New Orleans native and 2nd generation Navy veteran. After my service, I campaigned as a professional boxer on the Midwest boxing circuit. I was later recruited to sell merchant processing while living in Brooklyn, NY, and did so for over 10 years before founding Bonita Payments in 2015. Today our company has multiple partnerships and sales channels in over 15 States and clients in most of the country. My career achievements are mostly in the personnel that I have been fortunate enough to work with and help develop. I have made the humble transition from a superstar to a player-coach. It is easy to talk about money and success or awards, but they come and go so fast, but the relationships and affected lives last much longer.
What are the services that your company offer to businesses?
We provide merchant processing or payment processing, merchant hardware and software solutions, and all things merchant processing related. We customize payment services for small to medium businesses – quick service restaurants and full-service restaurants in all food categories across the US. We engineer the payment process for grocery stores and gas stations and retail stores with our product suite. NFC/contactless payments, online ordering, mobile and eCommerce, gift cards, coupon redemption, and loyalty points are all a part of our payment products to help businesses compete today in this checkout happy society.
How long does it take to set up an account, and what is the process?
Our onboarding is digitally seamless with click to agree and automated equipment ordering, making the entire process a matter of minutes. The hardest part is creating a username and password hint. Simply choose from retail to restaurant or mobile to online and pick from a few custom options and wait for your confirmation emails.
Are there unsupported or restricted business categories?
We support 99% of all merchant types with only a handful of high-risk merchants that we personally choose to avoid (such as vape shops and CBD retailers, money services). Each merchant has different levels of risk and should be view by their MCC – Merchant Category Code. We do vigorous work to help merchants avoid and minimize chargebacks and prevent fraud.
What payment cards does Bonita Payments support?
We support all card types (Visa, Mastercard, Discover, American Express, Diners, JCB, Pin Debit) and all contactless forms of payment. We have powerful invoicing suites and virtual terminals for card, not present transactions.
Can business owners give their employees a restricted login just to process sales?
All Bonita terminals, Point of Sale systems or gateways come with standard employee controls. Tiered access allows for management to control employee behavior and/or levels of access.
How long will it take to install and set up my POS Station?
From the application process to deployment, we can have a merchant up and running in a little as 24 hours and no longer than 48 hours. Weekends provide for shipping delays. Onsite training and remote training are available based on the customers level of computer competency and/or comfort.
Are there any hidden fees people should be aware of when using Bonita Payments?
Bonita pricing is transparent and comes with only the basic fees that are all centered around the way a would-be merchant will process cards. No two merchants are the same, so each agreement is slightly different. Interchange is a big space, and we give one wholesale price across the several hundred card types in the market today. This simplified approach is called interchange pricing, we rarely do flat rate pricing because that simply means a markup to cover the cost of the various card types.
Thank you Elliott for your time!
You can follow up with Elliott Forman at https://bonitapayments.net