During the time when your business has been down due to the slow economy plus costs are rising for accepting plastic money cards? Yes, your rates and fees you the businessman pay may be going up, way up depending on the company you do business while using.
One Merchant Services processor announced had been raising their rates by .27%!! Of your huge increase. Though it doesn’t stop there. I’ve seen several other companies join the bandwagon and announce they have risen their rates very. The largest increase I’ve seen to date has been many.45%. So if you were paying 2% you will 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 make your Statements out!! You should have received these previously mail by next. In the last paragraph on since page of your statement is where they usually disclose (hide) the rate increase. It may be a % the rates are going up and/or a transaction fee ($.xx) increase. It also states that in the event 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. There are masses of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of employers or those in control the books for companies, who don’t even bother opening their statements nowadays! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that small business owners quit opening them. This gives these companies a real easy way to make rates and fees since all the alerts and communications are on the statements.
I have visited the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) for over 9 years. One of the things I’ve learned is there are many of games being played at your expense.
It is valuable to process your cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees you pay can be avoided if you exactly what to look for.