During the time when your business has been down due to the slow economy in addition to costs are rising for accepting handmade cards? Yes, your rates and fees you the businessman pay may go up, way up depending on the company you do business with the.

One Merchant Services processor announced we were raising their rates by .27%!! That’s a huge increase. But it surely doesn’t stop their. I’ve seen several other companies get on the bandwagon and announce they have risen their rates too. The largest increase I’ve seen much has been even.45%. So if you were paying 2% you will definitely 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 obtain a Statements out!! You ought to have received these previously mail by at present. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It % the rate is going up and/or a transaction fee ($.xx) increase. Additionally, it states that merchandise in your articles continue to process with the company May 1st you have agreed to their rate increase.

It may the perfect to shop around for a different Merchant 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 at the number of employers or those given the task of the books for companies, who don’t even bother opening their statements once more! This industry is very broken and the majority of of the gambling payment processors have made their statements so confusing and hard to read, that business quit opening them. This gives these companies a real easy way to rise rates and fees since all the alerts and communications are on the statements.

I have visited the payments processing industry as a free account executive (OK salesman, but account executive sounds better) for well over 9 years. One of the many things I’ve learned is there have a of games being played at your expense.

It is crucial to process your cards as efficiently as possible so you merely reduce the fees you pay. Lots of the fees provided for can be avoided if you exactly what to look to obtain.