During the time when your business has been down due to the slow economy also as your costs are rising for accepting handmade cards? Yes, your rates and fees you the businessman pay may go up, way up depending on who you do business due to.
One Merchant Services processor announced have been raising their rates by .27%!! It really is a huge increase. But it surely doesn’t stop several. I’ve seen several other companies hop on the bandwagon and announce they have risen their rates too. The largest increase I’ve seen significantly has been .45%. So if you were paying 2% you will now be paying 2.45%.
Please keep in mind this is not Visa, or MasterCard raising their rates, it is the Best Online Casino Merchant Account Services Processing companies!
Time to obtain a Statements out!! You ought to have received these previously mail by at present. In the last paragraph on finally page of your statement is where they usually disclose (hide) the rate increase. It may be a % the minute rates are going up and/or a transaction fee ($.xx) increase. In addition, it states that if you continue to process with the company May 1st an individual agreed to their rate increase.
It may appropriate time to shop around for a different Merchant Services Provider if your current company is raising your rates. You wil discover numbers of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of employers or those in charge of the books for companies, who don’t even bother opening their statements nowadays! This industry is very broken and quite a few of the processors have made their statements so confusing and hard to read, that salespeople quit opening themselves. 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 held it’s place in the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) clogs under 9 years. Amongst the things I’ve learned is there are a lot of games being played at your expense.
It is extremely to process your credit cards as efficiently as possible so you merely reduce the fees you pay. Lots of the fees as opposed to can be avoided if you know what to look over.