Understand Your Credit Card Processing Statements In last week’s article, we described the various players involved with processing credit card payments for merchants. We also talked about what rates they charge you and whether you have any control over the fees. If you haven’t read it, you can do so right here. It’s a great […]
The credit card processing industry is made up of a web of banks, financial services, networks, software companies, and consumers. For every payment transaction completed, there are a half dozen players involved and charging you for their services. Understanding credit card processing fees and how they work can be confusing, especially if you’re not in […]
Understanding Merchant Account Processing Rates Businesses are always looking for the lowest credit card processing rates they can get. One can hardly blame them. It’s expensive to accept credit cards. At the same time, salesmen are eager to constantly sign new accounts and build their portfolio. Sometimes they even have monthly minimums they have to […]
Understand Credit Card Processing Rates – Watch Out for Hidden Fees and Sudden Changes I’m sure you’ve been there. You open your monthly credit card processing statement and almost faint when you see how much you’re being charged. Shocker! Your credit card processing company has raised your rates! Again. When did that happen? Likely there […]
In Part 2 of our video series we look at the various billing methods that merchant account providers use to hide rates and fees, appear competitive, and maximize their profits. This will help you understand the cost of your credit card processing and help you to negotiate a good deal.