Credit Card Processing
What is a Monthly Minimum Fee?
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A merchant account monthly minimum fee really isn’t a fee by itself — it’s more like a benchmark.
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Credit Card Processing
How to Switch Merchant Accounts without Interrupting Sales
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However, it’s possible to transition to a new processor smoothly and with minimal disruptions. In this guide, I’ll walk you through the process step by step, from determining if it’s time to switch to actually cancelling your old account. How to Know if It’s Time to Switch Merchant Accounts Before I get into how to …
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Credit Card Processing
5 Processing Fee Myths that Won’t Die
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Let’s face it: merchant services is a confusing topic for most business owners. And sometimes that’s not an accident. Between intentionally vague terms and sales reps that range from well-intentioned but inexperienced to outright deceptive, it’s no surprise that myths about merchant fees persist. I’ve written about credit card processing for decades and helped thousands …
Credit Card Processing
Clover Monthly Fees: Choosing a Pricing Plan
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There are several choices, each with different costs and features. In this article, we’ll cover the monthly fees for Clover plans, hardware/software compatibility, and what you get with each software plan. Clover Equipment There are currently five choices for Clover credit card processing equipment: Go, Flex, Mini, Station, and Station 2018. In the past, Clover …
Credit Card Processing
Beware of these Merchant Services Contract Clauses
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I’ve reviewed hundreds of processor contracts over the years. While some are fairly straightforward, others contain “gotchas” that aren’t always easy to spot. Unfortunately, missing those can cause you a lot of frustration and money. In this article, I’ll help you avoid pitfalls by showing you what to avoid in your credit card processing agreement. …
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Credit Card Processing
Misconceptions in Credit Card Processing
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In this article, we’ll clear up these credit card processing misconceptions to help you avoid common pitfalls and misleading sales spin. Misconception 1: Flat Rate Pricing is the Cheapest Flat rate pricing, where a processor offers you a fixed rate for transactions, looks simple. Instead of various interchange rates, you’ll just see one rate. Companies …
Credit Card Processing
What is a Good Rate for High Risk Processing?
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However, it’s still possible to get a general idea of average costs for various industries and business types. At CardFellow, we work with processors that serve high risk businesses and have pulled together some rough numbers to give you an idea of whether you’re overpaying. Rates for High Risk Merchant Accounts Keeping in mind that …
Credit Card Processing
Credit Card Processing Savings: Chasing the Unicorn
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My guess is that you’re starting your search for a processor by heading to Google to read reviews on the “best” credit card processors, or to find the processors with the lowest “rates.” Or perhaps you’re trying to verify something you were told by one of the dozen merchant services salespeople that seem to call …
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