A pos wats or pos wat fee is a communication fee that is charged each time a business’s credit card equipment dials the processor’s toll-free 800 number to get or give information. The pos-wats fee is often charged in addition to other transaction fees such as authorization fees, return fees, and AVS fees. The acronym […]
A merchant account monthly minimum fee really isn’t a fee by itself — it’s more like a benchmark.
I have a question about a specific company – [removed to protect the guilty]. They are saying the rate they can provide is 1.54% on qualified and mid-qualified cards (“flat wholesale rate”). The only other rate is “up to 4.61%” on non-qualified cards. Then they charge a three-cent credit card transaction fee and no basis […]
Some credit card processing fees are negotiable, and some aren’t. So, please put the spreadsheet aside for a moment and read this article before you call another processor to ask the fateful question, “What’s your rate?” Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing […]
Some credit card machines can be reprogrammed to work with virtually any credit card processing service, while other machines will only work with a specific processor. Older credit card machines that don’t have the proper hardware and memory to support modern programs may not work with any processors at all. Even if a credit card […]