During the time when your business has been down due to the slow economy and your costs are rising for accepting credit card? Yes, your rates Casino and Online Gaming Merchant Account fees you the company owner pay may be going up, way up depending on the company you do business with the.
One Merchant Services processor announced had been raising their rates by .27%!! That’s a huge increase. Though it doesn’t stop there. I’ve seen several other companies jump on the bandwagon and announce they have risen their rates additionally. The largest increase I’ve seen much has been can.45%. So if you were paying 2% you will 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 your past mail by at present. In the last paragraph on the last page of your statement is where they usually disclose (hide) the rate increase. It are sometimes % the minute rates are going up and/or a transaction fee ($.xx) increase. Furthermore, it states that seeking continue to process with the company May 1st you’ve agreed to their rate increase.
It may be time to shop around for a different Merchant Services Provider if your current company is raising your rates. Several 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 control the books for companies, who don’t even bother opening their statements once more! This industry is very broken and quite a few of the processors have made their statements so confusing and hard to read, that small business owners quit opening both of 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) every one of the 9 years. One of many things I’ve learned is there are a lot of games being played at your expense.
It is necessary to process credit score cards as efficiently as possible to reduce the fees you pay. Lots of the fees provided for can be avoided if you know what to look for.