During the time when your business has been down due to the slow economy in addition to costs are rising for accepting plastic money cards? Yes, your rates and fees you the operater pay may go up, way up depending on the person you do business while using.
One Merchant Services processor announced have been raising their rates by .27%!! That’s a huge increase. Though it doesn’t stop right now. I’ve seen several other companies get on the bandwagon and announce they have raised their rates too. The largest increase I’ve seen much has been even.45%. So if you were paying 2% you will easily 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 ought to have received these planet mail by here. In the last paragraph on finally page of your statement is where they usually disclose (hide) the rate increase. It can be % the minute rates are going up and/or a transaction fee ($.xx) increase. Additionally, it states that in the event you continue to process with the company May 1st an individual 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 masses of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in 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 the processors have made their statements so confusing and hard to read, that business owners quit opening both of them. This gives these companies a real easy way to rise rates and fees since all the alerts and communications are on the statements.
I have experienced the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) clogs under 9 years. Among the things I’ve learned is there are many of games being played at your expense.
It is crucial to process credit score cards as efficiently as possible so reduce the fees you pay. A lot of the fees would you can be avoided if you exactly what to look for.