During the time when your business has been down due to the slow economy and your costs are rising for accepting credit card? Yes, your rates and fees you the business owner pay may be going up, way up depending on who you do business with the.
One Merchant Services processor announced have been raising their rates by .27%!! It really is a huge increase. Definitely doesn’t stop several. I’ve seen several other companies jump on the bandwagon and announce they have risen their rates to. The largest increase I’ve seen much has been many.45%. So if you were paying 2% you will definitely be paying 2.45%.
Please keep in mind this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to obtain your Statements out!! You should have received these planet mail by now. In the last paragraph on since page of your statement is where they usually disclose (hide) the rate increase. It are sometimes % the rates are going up and/or a transaction fee ($.xx) increase. It also states that merchandise in your articles continue to process with the company May 1st you have agreed to their rate increase.
It may be time to shop around for a different Best Online Casino Merchant Account Services Provider if your current company is raising your rates. There are plenty of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened at the number of business owners or those given the task of the books for companies, who don’t even bother opening their statements once more! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that businesspeople quit opening them. This gives these companies a real easy way to make rates and fees since all the alerts and communications are on the statements.
I have experienced the payments processing industry as a executive (OK salesman, but account executive sounds better) every one of the 9 years. Amongst the things I’ve learned is there have a of games being played at your expense.
It is valuable to process credit rating cards as efficiently as possible so you merely reduce the fees you pay. Lots of the fees as opposed to can be avoided if you know what to look with.