During the time when your business has been down due to the slow economy including your costs are rising for accepting a card? Yes, your rates and fees you the operater pay may go up, way up depending on individual preference do business with the.
One Merchant Services processor announced have been raising their rates by .27%!! Of your huge increase. But it doesn't stop a lot of. I've seen several other companies hop on the bandwagon and announce they have risen their rates very. The largest increase I've seen to date has been can.45%. So if you were paying 2% you will definitely be paying 2.45%.
Please keep goal this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to make your Statements out!! You ought to have received these in the mail by at present. In the last paragraph on final 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. Additionally, it states that merchandise in your articles continue to process with the company May 1st you might have agreed to their rate increase.
It may be time to shop around for a different Merchant Services Provider if your current company is raising your rates. There are various of Best Online Casino Merchant Account Services Providers out there that are not increasing their processing rates.
I'm frightened at the number of employers or those in control of the books for companies, who don't even bother opening their statements any further! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that small business owners 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 experienced the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) for over 9 years. One of the many things I've learned is there are a lot of games being played at your expense.
It is necessary to process your credit cards as efficiently as possible to reduce the fees you pay. Lots of the fees as opposed to can be avoided if you exactly what to look for.