During the time when your business has been down due to the slow economy and your costs are rising for accepting credit cards? Yes, your rates and fees you the businessman pay may go up, way up depending on the company you do business with.
One Merchant Services processor announced had been raising their rates by .27%!! What a huge increase. Even so it doesn’t stop several. I’ve seen several other companies can get on the bandwagon and announce they have risen their rates to. 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 goal this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to make your Statements out!! You should have received these in the 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 well be a % the minute rates are going up and/or a transaction fee ($.xx) increase. It also states that seeking 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 Online Casino & Gaming High Risk Merchant Accounts 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 in the number of employers or those answerable for 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 business quit opening items. 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 visited the payments processing industry as an account executive (OK salesman, but account executive sounds better) for over 9 years. One of the things I’ve learned is there have a of games being played at your expense.
It is necessary to process your credit cards as efficiently as possible so reduce the fees you pay. A lot of the fees not only do you can be avoided if you know what to look to have.