During the time when your business has been down due to the slow economy plus costs are rising for accepting credit cards? Yes, your rates and fees you the businessman pay may be going up, way up depending on whom you do business while using.
One Merchant Services processor announced they were raising their rates by .27%!! What a huge increase. But it doesn’t stop several. I’ve seen several other companies can get on the bandwagon and announce they have raised their rates to. The largest increase I’ve seen significantly has been many.45%. So if you were paying 2% you will definitely be paying 2.45%.
Please keep inside your this is not Visa, or MasterCard raising their rates, it is the Best Online Casino Merchant Account Services Processing companies!
Time to get your Statements out!! You should have received these in the mail by now. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It % the minute rates are going up and/or a transaction fee ($.xx) increase. In addition, it states that you continue to process with the company May 1st you might have agreed to their rate increase.
It may proper 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 business men or those in control of the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that businesspeople quit opening these. 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 held it’s place in the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) for well over 9 years. One of the many things I’ve learned is there are many of games being played at your expense.
It is necessary to process your cards as efficiently as possible so itrrrs possible to reduce the fees you pay. A lot of the fees not only do you can be avoided if you know what to look for.