Credit Card Processing

My Credit Card Processor Raised My Rates – Now What?

Credit card processing isn’t cheap. But it doesn’t have to be as expensive as many business owners think. In this article, I’ll cover the different types of price increases, which ones are avoidable, and how to stop them. Types of Price Increases The Easy Way The Hard Way Determine the Source of the Increase Is […]

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You know the drill. Your monthly processing statement comes in, and your processor is raising your rates. How do you stop it?

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Interchange Fees

Discover Interchange Rates

There are interchange rates for all Discover card types, including debit, credit, international, and commercial cards. The fee varies by entry method (in-person, keyed, or recurring) as well. In this article, we’ll include the interchange rates grouped by card type. What are interchange fees? Discover Interchange Rates Credit Interchange Rates Debit Interchange rates Regulated Debit […]

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When you accept Discover cards at your business, you’ll pay fees to Discover, called interchange. These rates vary by card type, entry method, and other details.

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Interchange Fees

Visa Enhanced Data Interchange Rates and Requirements

Providing level 2 / level 3 data can make a business eligible for enhanced data interchange categories, which carry lower rates and fees than non-enhanced categories. Enhanced data is only available for certain types of commercial card transactions, or B2B payments. It does not apply to consumer transactions. B2B processing and enhanced data are specialty […]

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Enhanced data (also sometimes called level 2 or level 3 data) refers to information provided with a credit card transaction that goes beyond the basic details.

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Credit Card Processing

The Best Merchant Services Rates

The worst thing you can do for your business is call a processor and ask, “What are your rates?” or choose a company based on their inclusion in a “best processing rates” table. But that doesn’t mean we can’t show you how to find the most competitive pricing. In this article, we’ll discuss the role […]

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When looking for the best merchant services rates, most business owners mean that they want the lowest possible pricing to take credit cards. For lowest total cost, “rates” isn’t the full picture.

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Credit Card Processing, Scams and Fraud

The Truth Behind “We’ll Give You $500 if We Can’t Beat Your Rates” Offers

Okay, the offer doesn’t usually include a unicorn, but it might as well for all the good it does you if you’re trying to secure competitive pricing. Credit card processors that offer cash if they can’t “beat” or match your current processing rates will use a variety of tactics to get your business, and manipulate […]

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If you accept credit cards at your business and have spent any time researching processors, you’ve probably come across sales gimmicks offering cash if the processor can’t beat your current rates. You know the one: “If we can’t lower your rates, we’ll give you $500 and a free unicorn!”

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Credit Card Processing

Best Credit Card Processing Rates = Fools’ Gold

You’re setting yourself up for an expensive failure by shopping for the “best credit card processing rates.”

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Credit card processing rates are a decoy that distracts from the variables that really impact cost. The biggest mistake you can make when shopping credit card processing services is to ask a bunch of processors the fateful question, “What’s your rate?”

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Credit Card Processing

Qualified, Mid Qualified & Non Qualified Credit Card Processing Rates

The key to lowering your business’s credit card processing expense is not avoiding non-qualified fees. The key is completely eliminating a processor’s qualification altogether. Who Determines Rate Qualification Non-Qualified Interchange Non-Qualified Credit Cards Over-Simplifying Qualification Qualified Rate Mid-Qualified Rate Non-Qualified Rate Eliminating Non-Qualified Fees Who Determines Rate Qualification Qualified, mid-qualified and non-qualified rates are set […]

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If your business is paying qualified, mid-qualified and non-qualified charges to process credit cards, it’s paying too much. In fact, businesses that find a processor through CardFellow typically lower fees by as much as 40% by eliminating non-qualified rates.

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Credit Card Processing

Square Review, Rates & Fees

Square Up’s credit card processing service causes many businesses to mistake simplicity for competitiveness.

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Square Up credit card processing isn’t a good fit for every business. Square is best suited for individuals or  businesses with low or sporadic sales volume or a low average sale amount.

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