Credit Card Processing

American Express OptBlue Pricing & Acceptance

Ben Dwyer
by Ben Dwyer

Several months ago American Express introduced OptBlue, which is a new pricing structure that will replace the company’s current One Point pricing for most businesses. OptBlue’s pricing functions similarly to that of Visa and MasterCard’s interchange in that processors pay “wholesale” rates to American Express and apply their markup through a cost-plus or tiered pricing model.

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American Express’s OptBlue program provides the possibility of lower Amex fees for businesses that know what to look for.

Amex OptBlue

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Credit Card Processing

Interchange Plus Pricing IS NOT a Silver Bullet

Ben Dwyer
by Ben Dwyer

Interchange plus pricing does not guarantee competitive credit card processing fees. It’s just as easy for a processor to overcharge a business using interchange plus pricing as it is with other pricing models, such as tiered.

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As more information becomes available about credit card processing and more people with superficial knowledge write about the topic, interchange plus is often touted as the be-all end-all to opaque billing and high credit card processing charges. This is a dangerously expensive misconception.

Interchange plus pricing

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Credit Card Processing

Playing the Credit Card Processing Match Game

Ben Dwyer
by Ben Dwyer

Allowing your current credit card processor to match a more competitive offer may sound like a good idea, but it’s a losing proposition that will cost time and money.

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I get it. It’s easier to have your current credit card processor match lower pricing than it is to go through the application and set up an account with a new processor. But, like it or not, there’s no way to win the credit card processing match game, which is why no one ever does.

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Credit Card Processing

SBA & Marco Carbajo Negligence Misleads Small Businesses

Ben Dwyer
by Ben Dwyer

Despite repeated requests to correct its content, the SBA has chosen to mislead small businesses. On September 10, 2013 the SBA posted an article titled The Best Credit Card Processing For Small Business Owners, written by guest blogger and affiliate marketer Marco Carbajo. In the article, Marco Carbajo makes numerous false statements in an attempt…

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A dangerously erroneous article recently posted by the Small Business Administration is misleading small businesses, and the SBA has carelessly ignored repeated calls to have the article removed or corrected.

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Credit Card Processing

Credit Card Processor Reviews: Don’t be a Sucker

Ben Dwyer
by Ben Dwyer

Before you get gouged by a so-called “five star” processor, be sure you know the motivation of the reviewer, what or whom the review is targeting, and how credit card processing fees actually work. What’s the motivation for the reviewer? Is the review targeting the appropriate company? Pricing and Terms are Set on Per-Business Basis…

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Think twice before staking your business’s credit card processing on speculative processor reviews. Most credit card processor reviews aren’t worth the virtual paper they’re printed on.

Falling for credit card processor reviews

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Credit Card Processing, Security and PCI Compliance

Data Breach Prevention and Insurance

Ellen Cunningham
by Ellen Cunningham

You might be considering breach insurance, assuming that will protect you in the event of a data breach. Many credit card processing companies even offer data breach insurance as an add-on, making it an easy decision for some businesses. Just know that there may be limitations to what types of breaches are covered, or how…

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In the wake of expensive, well-publicized data breaches like those experienced by Home Depot and Target, you may be nervous about your own business experiencing a breach. Unlike Target and Home Depot, small businesses don’t always have the money to cover the expenses of a data breach, and may take a bigger reputation hit if customers perceive your business as not secure.

Data breach theives

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Credit Card Processing

Best Credit Card Processing: Define, Learn, Search

Ben Dwyer
by Ben Dwyer

Define Best: What’s Really Important Best Rates — A Big Mistake Learn the Fundamentals of Processing Focus on Markup Pricing Model Terms Search Define Best: What’s Really Important The problem with the word “best” is that it’s subjective. Its meaning is unique to the person using it, and when it comes to credit card processing,…

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You won’t find the best credit card processing unless you define what “best” means for your business, and then learn the fundamentals of processing before setting out in search of a processor.

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