During the time when your business has been down due to the slow economy plus costs are rising for accepting handmade cards? Yes, your rates and fees you the businessman pay may be going up, way up depending on individual preference do business with the.
One Merchant Services processor announced have been raising their rates by .27%!! What a huge increase. But it doesn’t stop several. I’ve seen several other companies get on the bandwagon and announce they have risen their rates very. The largest increase I’ve seen so far has been .45%. So if you were paying 2% you will now be paying 2.45%.
Please keep in the mind this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to obtain a Statements out!! You should have received these your past mail by next. In the last paragraph on finally page of your statement is where they usually disclose (hide) the rate increase. It may be a % the rates are going up and/or a transaction fee ($.xx) increase. It also states that seeking continue to process with the company May 1st possess to agreed to their rate increase.
It may the perfect to shop around for a different Merchant Services Provider if your current company is raising your rates. There are various of Online Casino & Gaming High Risk Merchant Accounts Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of employers or those given the task of the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that salespeople quit opening themselves. This gives these companies a real easy way to boost rates and fees since all the alerts and communications are on the statements.
I have held it’s place in the payments processing industry as a bank account executive (OK salesman, but account executive sounds better) for over 9 years. Among the things I’ve learned is there are many of games being played at your expense.
It is very important to process credit rating cards as efficiently as possible so itrrrs possible to reduce the fees you pay. A lot of the fees would you can be avoided if you know what to look with.