In order to Know About Merchant Service Providers
During the time when your business has been down due to the slow economy and your costs are rising for accepting a card? Yes, your rates and fees you the small business owner pay may be going up, way up depending on whom you do business with.
One Merchant Services processor announced had been raising their rates by .27%!! It really is a huge increase. Even so it doesn’t stop their. I’ve seen several other companies join the bandwagon and announce they have risen their rates to. The largest increase I’ve seen to date has been .45%. So if you were paying 2% you will now 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 obtain your Statements out!! You should have received these your past mail by at present. In the last paragraph on then everything else page of your statement is where they usually disclose (hide) the rate increase. It % the 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’ve agreed to their rate increase.
It may proper 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 online marketers or those given the task of the books for companies, who don’t even bother opening their statements any further! 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 these. This gives these companies a real easy way to increase 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 an account executive (OK salesman, but account executive sounds better) for over 9 years. One of many things I’ve learned is there are many of games being played at your expense.
It is extremely to process credit rating cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees would you can be avoided if you know what to look with.
