Things to Know About Merchant Service Providers
During the time when your business has been down due to the slow economy and your costs are rising for accepting plastic money cards? Yes, your rates and fees you the businessman pay may be going up, way up depending on the company you do business with.
One Merchant Services processor announced have been raising their rates by .27%!! Of your huge increase. Definitely doesn’t stop right now. I’ve seen several other companies hop on the bandwagon and announce they have risen their rates to. The largest increase I’ve seen to date has been a.45%. So if you were paying 2% you will now be paying 2.45%.
Please keep in your 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 previously mail by next. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It % the rates are going up and/or a transaction fee ($.xx) increase. Additionally, it states that you continue to process with the company May 1st an individual agreed to their rate increase.
It may be time to shop around for a different Merchant Services Provider if your current company is raising your rates. You wil discover numbers of Best Online Casino Merchant Account Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of business owners or those answerable for the books for companies, who don’t even bother opening their statements any more! This industry is very broken and quite a few of the processors have made their statements so confusing and hard to read, that business quit opening both of them. This gives these companies a real easy way to increase rates and fees since all the alerts and communications are on the statements.
I have experienced the payments processing industry as a free account executive (OK salesman, but account executive sounds better) clogs under 9 years. One of the things I’ve learned is there have a of games being played at your expense.
It is crucial to process your cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees provided for can be avoided if you exactly what to look for.
