During the time when your business has been down due to the slow economy including your costs are rising for accepting handmade cards? Yes, your rates and fees you the small business owner pay may be going up, way up depending on who you do business by way of.
One Merchant Services processor announced these were raising their rates by .27%!! Of your huge increase. But it surely doesn’t stop right now. I’ve seen several other companies get on the bandwagon and announce they have risen their rates to. The largest increase I’ve seen much has been .45%. So if you were paying 2% you will 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 here. In the last paragraph on the last page of your statement is where they usually disclose (hide) the rate increase. It may well be a % the rate is going up and/or a transaction fee ($.xx) increase. What’s more, it states that merchandise in your articles continue to process with the company May 1st you have agreed to their rate increase.
It may appropriate time to shop around for a different Best Merchant Accounts for Online Gambling Services Provider if your current company is raising your rates. There are various of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened at the number of employers or those in charge of the books for companies, who don’t even bother opening their statements any further! This industry is very broken and a lot of the processors have made their statements so confusing and hard to read, that business 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 an account executive (OK salesman, but account executive sounds better) for upwards of 9 years. One of the many things I’ve learned is there are of games being played at your expense.
It is very important to process credit score cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees as opposed to can be avoided if you exactly what to look to obtain.