{"id":363,"date":"2018-02-26T14:41:34","date_gmt":"2018-02-26T14:41:34","guid":{"rendered":"https:\/\/altorprocessing.com\/?p=363"},"modified":"2021-08-25T21:31:34","modified_gmt":"2021-08-25T21:31:34","slug":"announcing-it-to-the-world","status":"publish","type":"post","link":"https:\/\/altorprocessing.com\/2018\/02\/announcing-it-to-the-world\/","title":{"rendered":"Announcing it to the World"},"content":{"rendered":"

Our Altor\/50 was recently featured in the news!\u00a0 Check out the latest Inside Business article.<\/h4>\n

Reprinted from Inside Business article found here<\/a>.<\/em><\/p>\n

 <\/p>\n

Ed Hopper is giving half his net profit from new clients to charity.<\/p>\n

The owner and president of Altor Processing Systems Inc. in Virginia Beach created the charitable program Altor\/50 to take half his revenue from credit card processing fees.<\/p>\n

But he says he\u2019s not worried \u2013 it\u2019s going to several good causes.<\/p>\n

\n
\n
\u00a0\u201cEverybody says, \u2018Half?\u2019 That\u2019s the first thing they say, \u2018Half. Are you crazy?\u2019 \u201d Hopper said. \u201cBecause we talked to our accountants; we talked to lawyers. We talked to accountants again and that\u2019s always fun. \u2018You\u2019re a little bit crazy. But yes, you can do it.\u2019 \u201d<\/div>\n<\/div>\n<\/div>\n

Hopper said he got the idea from his daughter who insists on buying Tom shoes. The company gives a pair of shoes to a child in need for each pair bought.<\/p>\n

He wanted to make it his company\u2019s mission and approached Shannon Kane, president and founder of EWR Management Group and a Virginia Beach councilwoman.<\/p>\n

The two have been friends for years, so when Hopper approached her with the idea, Kane didn\u2019t hold back her doubt about the program\u2019s sustainability for Altor.<\/p>\n

But she said she started catching onto Hopper\u2019s excitement and realized the program\u2019s potential. Her company is providing marketing, outreach and operations.<\/p>\n

Hopper will continue to make revenue from his base clientele of more than 1,000 merchants, but any new ones signed up will be under the program.<\/p>\n

Merchants that sign up for credit card processing will be able to choose one of five charities: the National Alliance on Mental Illness in Virginia Beach, care package nonprofit Troopster, the Cancer Care Foundation of Tidewater, Mercy Medical Angels and Virginia Beach SPCA.<\/p>\n

The processing fee can be anywhere from .8 percent to over 2 percent, Hopper said.<\/p>\n

The five charities will receive donations from Altor every quarter and five different charities will be chosen every year. However, each charity will continue to benefit from whatever merchants were signed up under them.<\/p>\n

The charities will always be local and must have a mission for kids, pets, cancer, mental health or military.<\/p>\n

As far as how much the charities should expect to receive, Kane said that\u2019s a number that\u2019s difficult to pin down since results for each charity could be vastly different.<\/p>\n

\u201cFor some months, you may get $1,000. For some months, you may get $10,000. For some months, they may not process (money),\u201d she said. \u201cI don\u2019t know. So it\u2019s really kind of hard to tell from time to time.\u201d<\/p>\n

But Hopper said he estimates a six-figure donation will be distributed among the charities this year.<\/p>\n

\u00a0Word is already spreading about the program and Hopper said he\u2019s seen a spike in business with 30 accounts signing up since the program started in December.<\/div>\n

\u201cWe signed up more accounts in December than I ever have in any other previous year,\u201d he said, adding he\u2019s been in business since 1999.<\/p>\n

\u201cWe\u2019re not making obviously nearly as much as we were before off of each merchant, but we\u2019re having more people sign up and set up because they believe in the mission, which is awesome because the more merchants that we set up, the more charities that we can help,\u201d Hopper said.<\/p>\n

Nonprofits can also sign up as merchants and receive 50 percent of the net profits from their own credit card transactions.<\/p>\n

Habitat for Humanity has already signed up for the program, Hopper said.<\/p>\n

But not every nonprofit will make that list.<\/p>\n

\u201cWe also want to vet the charities because we want to make sure they\u2019re really good charities that do good for the community that they\u2019re in,\u201d he said. \u201cYou don\u2019t want to just give it to a charity where almost all the money\u2019s going back to salaries or whatever.\u201d<\/p>\n

For Hopper, it\u2019s more than just a charitable endeavor, Kane said.<\/p>\n

\u201cHis goal, as he said to me time and time again, is we need to change the face of credit card processing … I said, \u2018We don\u2019t want people to copy us,\u2019\u201d she said. \u201cAnd he\u2019s like, \u2018Yeah, we do. We want people to give back.\u2019 \u201d<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Our Altor\/50 was recently featured in the news!\u00a0 Check out the latest Inside Business article. Reprinted from Inside Business article found here.   Ed Hopper is giving half his net profit from new clients to charity. The owner and president … <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","content-type":"","footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-uncategorized"],"yoast_head":"\nAnnouncing it to the World - Altor Gives Back.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/altorprocessing.com\/2018\/02\/announcing-it-to-the-world\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Announcing it to the World\" \/>\n<meta property=\"og:description\" content=\"Our Altor\/50 was recently featured in the news!\u00a0 Check out the latest Inside Business article. 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