During the time when your business has been down due to the slow economy in addition to costs are rising for accepting credit cards? Yes, your rates and fees you the operater pay may be going up, way up depending on who you do business with the.
One Best Merchant Accounts for Online Gambling Services processor announced they were raising their rates by .27%!! It really is a huge increase. Though it doesn’t stop right now. I’ve seen several other companies jump on the bandwagon and announce they have risen their rates quite. The largest increase I’ve seen much has been a.45%. So if you were paying 2% you will now be paying 2.45%.
Please keep in your 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 previously mail by this point. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It % the rate is going up and/or a transaction fee ($.xx) increase. What’s more, it states that merchandise in your articles continue to process with the company May 1st you have 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 online marketers or those in charge of the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and a lot of the processors have made their statements so confusing and hard to read, that salespeople quit opening both of them. 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 experienced the payments processing industry as an account executive (OK salesman, but account executive sounds better) every one of the 9 years. One of many things I’ve learned is there have a of games being played at your expense.
It is extremely to process credit rating cards as efficiently as possible so you can reduce the fees you pay. A lot of the fees as opposed to can be avoided if you know what to look to obtain.