During the time when your business has been down due to the slow economy also as your costs are rising for accepting plastic money cards? Yes, your rates and fees you the operater pay may be going up, way up depending on who you do business with.
One Merchant Services processor announced these were raising their rates by .27%!! Of your huge increase. Even so it doesn’t stop their. I’ve seen several other companies jump on the bandwagon and announce they have raised their rates quite. The largest increase I’ve seen so far has been many.45%. So if you were paying 2% you will easily be paying 2.45%.
Please keep inside your this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to get your Statements out!! You ought to have received these planet mail by this point. In the last paragraph on finally page of your statement is where they usually disclose (hide) the rate increase. It % the rates are going up and/or a transaction fee ($.xx) increase. What’s more, it states that you continue to process with the company May 1st you might have agreed to their rate increase.
It may proper to shop around for a different online gaming merchant account 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 business owners or those given the task 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 business quit opening these. This gives these companies a real easy way to boost rates and fees since all the alerts and communications are on the statements.
I have been in the payments processing industry as a executive (OK salesman, but account executive sounds better) for over 9 years. One of many things I’ve learned is there degree of complexity of games being played at your expense.
It is very important to process credit rating cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees not only do you can be avoided if you exactly what to look for.