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A Guide to Hidden Merchant Account Fees
Article Submitted by: Future Finance Solutions A small business will open a merchant account to accept credit and debit card payments with the intention of increasing sales and thereby increasing profits. But the fees charged for merchant accounts may not be as straight forward as they seem. There are many fees that are hidden from you and you only find out when you receive the monthly statement. Here is guide to some of those hidden payments and how you can avoid any surprise charges. The quoted rate is not applicable to all cards. You have been offered a very reasonable rate, but you will be later informed that the rate…
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How to Pay Lower Fees for Credit Processing
You will pay lower fees to process credit cards after you read this guide. Credit card machines are an essential part of the modern business, and businesses are basically forced to use them if they don’t want to go “cash only”. The good news is that these terminals do serve a valuable function: providing a secure method to transmit payment information from one bank to another, and to talk between many credit card companies. You can also use some tricks to pay lower fees for your transactions, and this guide will help. Negotiation Tactics If you’re a small business, you can try pitting payment processors against one another with some…
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What Small Business Owners Need to Know About Choosing a Payment Processor
Most freelancers transitioning into the world of small business make all sorts of mistakes when it comes to choosing a merchant service provider, or handling billing in general. A lot of them choose the old fashioned “invoice” method, where they send a word doc and wait for a check via snail mail. This isn’t efficient when you’re trying to run a business, and counting on continued income. Payment processors are the only logical choice for the true freelancer, but there are some pitfalls you can avoid. Cheap is not Always Best A lot of payment processors like to advertise their merchant account as a low rate provider, but there are…
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Protecting Customer Information When Accepting Payments On or Offline
Article by howtoacceptcreditcardsonline.org Most people think that the most vulnerable point of hacking is when a retailer is setup to accept payments online. The reality is that a retail hack can come from the terminal, or from online payments. Proper security precautions will help defend against this new reality. This advice will help absolve retailers of some of the liability that comes with processing payments, and help understand more about the system and the security pre-cautions at play. New Terminals New credit card processors work with EMV chips. These chips help to encrypt credit card payment data, ensuring that the transfer between the consumer and the retailer is secure. These…
