The Dangers of Credit Card Processing Savings Analyses
Comparing credit card processors? Be careful with savings analyses.
Comparing credit card processors? Be careful with savings analyses.
There are several common misconceptions in credit card processing and sales reps can use those to trick you into overpaying.
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.
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.
Northern Leasing Systems is garbage. It defies logic that a company with a reputation as horrendous as Northern Leasing is still in business. It shouldn’t be.
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!”
I’m often asked why this site doesn’t have a lengthy merchant account comparison chart. The answer is simple – these intricate comparison charts are useless.
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.