Basis point is term that refers to one one-hundreth of a percentage point. Shown as a percentage, one basis point is 0.01%; but Shown numerically, one basis point is 0.0001. Needless to say, deciphering basis points can get a little confusing. That’s why we’ve created this nifty basis point calculator that does the math for you. Just move the slider to calculate basis points and the associated charge for a given dollar amount.
A convenient calculator for basis point conversions.
At this very moment you know just enough to be dangerous. I highly suggest (and I know my previous employer would agree) that you keep reading. The Flawed Definition of Interchange-Plus Concealing a Markup on Interchange Ridiculous Markups Imaginary Fees Non-Receipt of Credits & Vouchers What’s your time worth? The Flawed Definition of Interchange-Plus We…
Years ago I worked for someone that loved the saying, “We pose the greatest risk to ourselves when we know just enough to be dangerous.”
This is often the case with interchange-plus pricing and credit card processing. You’re reading this because you’re likely tired of paying high credit card processing fees, and you probably came across an article or two that touts interchange-plus as the solution to your problem.
Update: September 2019 – Square has done away with it’s 2.75% flat rate pricing. Square charges transaction fees, effectively negating the pricing advantage described in this article. We’re leaving it here for historical record, but note that in many cases it may not be less expensive to use Square for small ticket transactions anymore. Businesses…
You can have Square subsidize your credit card processing fees, just like Starbucks did. It’s just a matter of using Square’s overly simplified pricing to your advantage.
Before you get discouraged thinking that means you’ll have to do a ton of work to find out who’s really the “best,” we’ll offer information in this article that will help you determine who is the best processor for you. To do that, we also have to tell you what to watch out for: “best…
At CardFellow, we’re often asked who is the “best” processor. We don’t rate processors or keep lists of who is the “best” for one simple reason: the best processor will vary depending on your business. Lists of the top credit card processors ultimately aren’t helpful, and can lead you in the wrong direction when it comes to getting the right processing solution.
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…
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!”
There are many processors who are able to offer integration or data export for QuickBooks, eliminating manual transaction entry. Types of QuickBooks Solutions Accounting Software QuickBooks Payments Point of Sale Software How do I get transaction data into my QuickBooks account? Point-of-Sale System Integration Gateway Plugin Export Data Should I just use QuickBooks Payments to…
Intuit’s QuickBooks is a popular choice for business accounting, and if you accept credit cards, you’re probably wondering how you can automatically input your sales data into QuickBooks. Contrary to popular belief, taking credit cards with QuickBooks isn’t limited to one processing company.
Some point of sale systems and credit card machines are now able to adjust for tips after the card is run, but others cannot. How will the process of tipping change with EMV chip cards? EMV Gratuity Variations by Card Type If some cards will still work why should I change our tip process? How…
The EMV liability shift is bringing many changes to credit card acceptance, but there’s one major difference that restaurant owners should be aware of: accepting gratuities.
What to Expect First Things First Forget About It! It’s Easier Than You Think There Are No Dumb Questions First Things First Credit Card Processing Ecosystem Where’d Your Money Go? Processor Pricing Models, Where Things Get Interesting How to Compare Credit Card Processors Keeping Costs Low About CardFellow Resources What to Expect CardFellow’s Guide to…
Here’s a comprehensive, unbiased, no-nonsense credit card processing guide that will help you make sense of the madness that goes on in the processing industry. This guide will show you actionable information on how credit card processing fees work and will allow you to turn the knowledge into dollars duesand cents.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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