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

One Merchant Services processor announced these were raising their rates by .27%!! Of your huge increase. But it surely doesn’t stop their. I’ve seen several other companies hop on the bandwagon and announce they have raised their rates additionally. The largest increase I’ve seen so far has been .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 buy Statements out!! You should have received these planet mail by here. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It may be a % the rate is going up and/or a transaction fee ($.xx) increase. It also states that in the event you continue to process with the company May 1st possess to agreed to their rate increase.

It may ideal to shop around for a different Merchant Services Provider if your current company is raising your rates. There are various of Merchant Services Providers out there that are not increasing their processing rates.

I’m frightened at the number of Online Gaming, Casino and eSports Merchant Accounts marketers or those in control the books for companies, who don’t even bother opening their statements any more! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that businesspeople 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 free account executive (OK salesman, but account executive sounds better) clogs under 9 years. One of the things I’ve learned is there have a of games being played at your expense.

It is very important to process your own cards as efficiently as possible so itrrrs possible to reduce the fees you pay. A lot of the fees as opposed to can be avoided if you know what to look to obtain.