During the time when your business has been down due to the slow economy in addition to costs are rising for accepting credit card? Yes, your rates and fees you the operater pay may go up, way up depending on who you do business while using.
One Merchant Services processor announced we were raising their rates by .27%!! Consume huge increase. Though it doesn’t stop there. I’ve seen several other companies hop on the bandwagon and announce they have raised their rates additionally. The largest increase I’ve seen significantly has been can.45%. So if you were paying 2% you will certainly paying 2.45%.
Please keep in the mind this is not Visa, or MasterCard raising their rates, it is the Best Online Casino Merchant Account Services Processing companies!
Time to obtain your Statements out!! You should have received these planet mail by this point. In the last paragraph on the last 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. It also states that merchandise in your articles continue to process with the company May 1st possess to 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 plenty 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 more! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that business quit opening themselves. 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 visited the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) for over 9 years. Amongst the things I’ve learned is there have a of games being played at your expense.
It is very important to process credit rating cards as efficiently as possible to 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.