Merchant Processing Articles
Understanding Interchange Rates and Other Fees – Know The Basics Before Negotiating Pricing
Many merchants think card processing is pretty simple, not realizing how interchange rates (issuer and card association fees, dues and assessments) drastically affect their bottom line. They think the customer’s card information, obtained during an on-line purchase, is sent to one of the card associations — Visa, MasterCard, Discover, American Express. They think the card [...]
“Interchange plus Pricing” does not automatically mean “Fair Pricing”
If you have read any of my articles, you know I am a proponent of Interchange Plus pricing and I detest the use of Tiered pricing on merchants. However, please understand that a merchant on Interchange Plus pricing can still be grossly overpaying for card processing. In fact, of the hundreds of merchant statements [...]
Please Be Aware of Deceptive Tiered-Pricing
Tiered – Pricing You show me a merchant on tiered pricing and I will show you a merchant who is over paying for credit and debit card processing, period! You may never process a single transaction at the rate quoted Tiered pricing means the merchant account provider states a base rate (say 1.49% + [...]
Be cautious of companies claiming to be fighting for the merchant
This may seem strange since I claim that my company, MerchantFeeSavers, fights for merchants. However, I am seeing a slew of companies claiming to be on the merchants’ side that I feel are anything but. To me, some of these …
About MerchantFeeSavers
MerchantFeeSavers was formed because a friend of the founder and owner of a chain of pizzerias pleaded that the merchant needed a true advocate. The industry is too complex and deceptive and the average merchant simply does not have the time or knowledge to decipher truth from deception. There are also too many companies claiming to be an advocate of the merchant but are really affiliated with different merchant account providers or salespeople. Even many industry associations and chambers receive money from merchant account providers for their endorsement. [...]
Merchant Resources
