Credit Card Processing

Interchange Clearing Fee – Wells Fargo Merchant Services

It’s pretty clear from our Wells Fargo Merchant Services review that we don’t hold the company’s credit card processing services in the highest regard. We formed this opinion over many years of reviewing quotes, applications, and statements that push opaque, overly aggressive pricing. A relatively recent addition to Wells Fargo’s arsenal of tricks is its…

TwitterFacebookLinkedIn

Wells Fargo Merchant Services slips an opaque “Interchange Clearing Fee” into its interchange-plus pricing, adding more proof to the fact that interchange-plus does not guarantee competitive credit card processing fees.

Read the full article

Credit Card Processing, Legal

The FTC’s CardReady Lawsuit

  What is CardReady? Why is CardReady getting sued? What is credit card laundering? What do I do if I use CardReady? Who is CardReady? CardReady is a payment processing company located in California. The company offers services for business that want to accept credit cards. Why is CardReady getting sued? CardReady is being sued…

TwitterFacebookLinkedIn

It seems like there’s been a flurry of lawsuits and investigations in the payments industry lately, with Northern Leasing sued for racketeering, Mercury Payment Systems defending against a second lawsuit for deceptive pricing, and Vantiv embroiled in the DraftKings fantasy sports lawsuit mess. The newest lawsuit is against payment processor CardReady, and comes from the Federal Trade Commission and the State of Florida.

Read the full article

Credit Card Processing

3 Ways to Tell if You’re Paying Too Much for Credit Card Processing

You Have Non-Qualified Rates You’re Using Square or PayPal You Chose a Processor from a Top Ten Processors Type of List I think I’m overpaying. How do I pay less for credit card processing? You have Non-Qualified Rates Check your statements. Do you see the word “non-qualified” or any variation? (NQUAL, nonqual, etc.) If so,…

TwitterFacebookLinkedIn

Credit card processing is a confusing and frustrating part of business. Have you ever looked at your billing statement and thought you’re paying too much for credit card processing but couldn’t be sure? Or maybe a pushy sales person stops by and promises to save you tons of money, and you’re wondering if you’re really overpaying. Here are 3 quick ways to determine if you’re paying too much and how to lower your costs to take credit cards.

Read the full article

Case Studies

CardFellow Debunks a Misleading Credit Card Processing Quote

You know the drill: Credit card processing sales people bombard you with calls and emails promising to save you tons of money. You resist as long as possible, but eventually you succumb to the pressure and hand over a statement from your current processor. A day or two later, a pushy salesperson shows you a…

TwitterFacebookLinkedIn

CardFellow is an advocate and expert consultant that acts on behalf of our clients, and we really don’t like it when a processor tries to mislead one of our valued clients with deceptive information. That’s exactly what recently happened with a company called Riverside Payments.

Read the full article

Credit Card Processing, News

Global Payments’ Diabolical Plan: Silence Heartland, Bail Out Mercury, Grow Portfolio

Global Payments is positioning itself to win a lawsuit filed against its prized ISO, Mercury Payments Systems, by buying the plaintiff, Heartland Payment Systems. Allow me to provide an overview of the lay of the land for those not too familiar with the relationships between these companies. Global Payments is a credit card processor with…

TwitterFacebookLinkedIn

You may have read about a deal Global Payments struck to purchase competitor Heartland Payment Systems, but there’s more than meets the eye. Read between the lines of Global Payments’ motives to acquire Heartland and you’ll see something more scandalous than a simple desire to grow its portfolio.

Read the full article

Credit Card Processing, Scams and Fraud

Credit Card Processor Scams

Take a look at what this business owner was told about hidden fees, cancellation fees, equipment, and more to learn what to watch out for so you can avoid making decisions based on sales rep scare tactics and keep yourself from falling for processing scams. Matching Quotes Equipment Leases Adjusting Rates Liquidated Damages Equipment Scare Tactics…

TwitterFacebookLinkedIn

Recently, we received a comment here on our blog that perfectly illustrated some of the deception, half-truths, and spin that many credit card processing sales reps use to pressure and mislead businesses. Disreputable processors range from deceptive to outright scam, and it’s important to know what you’re getting into when you’re choosing a credit card processing company.

Read the full article

Credit Card Processing

Top 3 Hidden Fees of Credit Card Processing

Use this article to determine if you’re overpaying and get tips on finding a credit card processing company that won’t gouge you with these hidden fees. 1.“Non-qualified” Transaction Downgrades 2. Lost Interchange Credits on Refunds 3. Padded Assessments Okay, so how do I avoid these hidden fees? 1. “Non-qualified” Transaction Downgrades If you look at…

TwitterFacebookLinkedIn

Credit card processing can be expensive, and hidden fees may be part of the problem. Have you ever looked at your credit card processing statement and noticed “non-qualified” transactions with a higher rate than what you thought you’d be paying? That’s one of the 3 most common hidden fees that might mean you’re paying more than you need to for credit card processing.

Read the full article

Credit Card Processing, Medical and Dental

Credit Cards On File: Taking Credit Cards as a Doctor or Healthcare Professional

If you know you want to take credit cards, but it seems like a minefield, this article will tell you what you need to know about accepting credit cards at a medical practice, setting up a credit card on file solution for accounts receivable, taking FSA or HSA payments, and choosing the right HIPAA compliant…

TwitterFacebookLinkedIn

Even though many people have some type of health insurance, it’s likely that your patients will need to pay for some of their services out of pocket. Whether it’s a co-payment or the full cost of a visit, people like the convenience of paying by card. Taking credit cards at your clinic may even reduce your likelihood of overdue bills, especially if you implement a credit card on file (CCOF) policy.

Read the full article