Credit Card Processing

American Express OptBlue Pricing & Acceptance

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 fees for informed merchants.

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Credit Card Processing

Interchange Plus Pricing IS NOT a Silver Bullet

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.

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Credit Card Processing

Playing the Credit Card Processing Match Game

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

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

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.

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Credit Card Processing

Best Credit Card Processing Define, Learn, Search

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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Credit Card Processing

Free Credit Card Machine = An Expensive Proposition

You are virtually guaranteeing that you will overpay for credit card processing if you’re comparing processors based on which ones are willing to provide a free terminal. With the 2015 EMV chip card switchover, the “free” machine offers are becoming even more common. The Economics of “Free” There’s an Exception to Every Rule One-Two Punch:…

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Like the saying goes, “there’s no such thing as a free lunch.” Credit card processors recoup the cost of a free credit card machine through expensive tiered pricing and various other fees.

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Credit Card Processing

Flat Rate Credit Card Processing – Fool’s Gold

If you’re considering a flat rate credit card processing company, here’s what you need to know. What is flat rate pricing? Flat Rate Pricing is An Illusion Truly Competitive Pricing vs. Flat Rate Pricing Interchange Plus Pricing Arguments for Flat Rate Pricing Known Costs Small Tickets What is flat rate pricing? Flat rate is an…

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Flat rate credit card processing is an expensive illusion based more on clever marketing than reality. What some companies advertise as a competitive flat rate is actually oversimplified and expensive pricing that conceals the true costs to process.

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