During the time when your business has been down due to the slow economy Casino and Online Gaming Merchant Account your costs are rising for accepting credit card? Yes, your rates and fees you the company owner pay may go up, way up depending on the company you do business while using.
One Merchant Services processor announced these were raising their rates by .27%!! It really is a huge increase. Definitely doesn’t stop several. I’ve seen several other companies hop on the bandwagon and announce they have raised their rates to. The largest increase I’ve seen so far has been can.45%. So if you were paying 2% you will certainly 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 a Statements out!! You ought to have received these inside the mail by here. In the last paragraph on then everything else page of your statement is where they usually disclose (hide) the rate increase. It may well be a % the rate is going up and/or a transaction fee ($.xx) increase. Additionally, it states that if you continue to process with the company May 1st you’ve 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. You wil discover numbers of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of employers or those in charge of the books for companies, who don’t even bother opening their statements nowadays! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that business quit opening both of them. 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 experienced the payments processing industry as a free account executive (OK salesman, but account executive sounds better) every one of the 9 years. Among the things I’ve learned is there have a of games being played at your expense.
It is very important to process credit rating cards as efficiently as possible so you merely reduce the fees you pay. A lot of the fees not only do you can be avoided if you exactly what to look for.