In order to Know About Merchant Service Providers
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 go up, way up depending on the company you do business by way of.
One Online Casino & Gaming High Risk Merchant Accounts Services processor announced have been raising their rates by .27%!! Of your huge increase. Definitely doesn’t stop their. I’ve seen several other companies join the bandwagon and announce they have risen their rates quite. The largest increase I’ve seen so far has been .45%. So if you were paying 2% you will 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 buy Statements out!! You should have received these planet mail by next. In the last paragraph on then everything else page of your statement is where they usually disclose (hide) the rate increase. It can be % 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 ideal to shop around for a different Merchant 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 in the number of employers or those in control 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 salespeople quit opening both of them. This gives these companies a real easy way to raise rates and fees since all the alerts and communications are on the statements.
I have been in the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) clogs under 9 years. One of the many things I’ve learned is there are of games being played at your expense.
It is valuable to process your own cards as efficiently as possible so you can reduce the fees you pay. A lot of the fees not only do you can be avoided if you exactly what to look to obtain.
