“Less Discount Paid” Defined “Less discount paid” is the term that credit card processing services use to indicate the amount of money that has been in fees throughout a given month. In order to determine the total amount paid in processing fees for a given month, you have to add “less discount paid” to the…
The phrase “less discount paid” on a processing statement can be confusing. It actually means the amount that you’ve paid in processing fees already.
This article isn’t going to just give you a list of “best credit card processors” for one simple reason: the “best” credit card processor for small businesses varies depending on the business. That’s right. Your industry, average transaction size, monthly volume, and more all play a role in the best fit. The best processor for…
So you think that just because you have a small business you can’t get the competitive credit card processing rates that big businesses get? Think again!
Luckily, plugging the cash flow leak is possible by getting interchange pass through pricing instead of bundled and knowing what to look for. You don’t have to worry about losing money on credit card refunds if you found your processor here at CardFellow. We don’t allow processors to structure pricing in such a way that…
If your business has bundled credit card processing fees your processor is pocketing your fee credits every time you issue a debit or credit card refund. If you’re in an industry that regularly accepts returns and issues refunds (like clothing and shoe stores, general merchandise retailers, electronics stores, and more) this affects you.
If so, you’ll be really happy to learn that non-qualified rates are nothing more than a figment of your processor’s imagination often used to increase profits through the practice of excessive surcharging. Non-qualified rates can be easily avoided, and this article will show you how to rid yourself of non-qualified fees forever. The Frustration of…
Are you looking at your credit card processing statement every month while banging your head against the wall trying to figure out how to lower your non-qualified credit card processing fees?
The Acquirer Processing Fee is sometimes called the Visa Authorziation Processing Fee. Note that Visa charges a separate acquirer processing fee for debit and credit card transactions. The APF for credit card transactions is $0.0195, and the APF for debit card transactions is $0.0155. For debit, the APF only applies to signature-based debit authorizations, not…
Visa began charging an acquirer processing fee (APF) on July 1, 2009 on all authorizations acquired in the United States. The acquirer processing fee is a flat transaction fee.
Costco’s merchant accounts use tiered pricing with bait and switch rates. In short, you will pay through the nose to process credit cards, and you’ll likely be stuck doing it until your multi-year contract expires. Here’s a breakdown of why Costco credit card processing services are so horrible. Note: this article focuses only on Costco’s merchant…
Costco may sell some things at wholesale prices, but it’s not merchant accounts. In fact, Costco doesn’t even provide credit card processing. Instead, they outsource merchant services to a company called Elavon.
What your business pays in processing fees depends on a number of factors, including the type of card, how you accept cards, if you take PIN or signature debit, and more. It also depends on whether you use CardFellow’s marketplace to allow processors to compete for your business. Those that use CardFellow will pay about…
We get this question a lot here at CardFellow: “What’s the average credit card processing fee for a [insert your business type here] business?” There are easy answers to this question, and then there are the right answers.
Let’s look at the differences between daily and monthly discount. Difference Between Daily and Monthly Discount Monthly Discount Easier to Reconcile, Better Cash Flow Daily Discount Harder to Reconcile, Hurts Cash Flow Disguises Total Cost of Processing How to Tell Which Discount Method You Have Difference Between Daily and Monthly Discount The names give it…
Daily and monthly discount refer to when a credit card processor deducts fees from your business checking account. There’s a big difference between the two, so give careful thought to which method is best for your business.
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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