During the time when your business has been down due to the slow economy also as your costs are rising for accepting credit cards? Yes, your rates and fees you the businessman pay may be going up, way up depending on the company you do business due to.
One Merchant Services processor announced have been raising their rates by .27%!! What a huge increase. Definitely doesn’t stop a lot of. I’ve seen several other companies can get on the bandwagon and announce they have raised their rates too. The largest increase I’ve seen so far has been can.45%. So if you were paying 2% you will definitely be paying 2.45%.
Please keep goal this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to buy Statements out!! You should have received these in the mail by next. In the last paragraph on the last page of your statement is where they usually disclose (hide) the rate increase. It are sometimes % the minute rates are going up and/or a transaction fee ($.xx) increase. Additionally, it states that if you continue to process with the company May 1st an individual agreed to their rate increase.
It may ideal to shop around for a different Merchant Services Provider if your current company is raising your rates. There are masses of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of Best Online Gambling Merchant Accounts marketers or those in control the books for companies, who don’t even bother opening their statements once more! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that business owners quit opening them. This gives these companies a real easy way to raise rates and fees since all the alerts and communications are on the statements.
I have been in the payments processing industry as a free account executive (OK salesman, but account executive sounds better) for well over 9 years. Among the things I’ve learned is there degree of complexity of games being played at your expense.
It is necessary to process credit rating cards as efficiently as possible so you merely reduce the fees you pay. Lots of the fees not only do you can be avoided if you know what to look over.