Tag Archives: credit card processing services

 Questions Every Small Business Must Ask Their Credit Card Processor | Getentrepreneurial

downloadSigning up with a credit card processor is a big step for small businesses. It allows small business owners to accept more forms of payment, which in turn drives revenue by making it easier and more appealing for customers to shop in the store. Before signing an agreement with a credit card merchant service processor, however, it is important to get all of your questions answered so that you know you are putting your business in the best position moving forward.

Start by inquiring about and understanding any contract requirements, as well as any processing rates as they relate to various types of cards. Get these rates for all cards, including corporate and rewards cards, in writing, so there are no surprise increases down the road. In addition, talk to your processor about American Express transactions, as well as the procedures for fee deductions from your account and if they offer next day funding. Finally, research a potential processor and consult other small businesses about their merchant solutions so you do not get stuck in a situation that does more harm than good.

Read More.

  Where Does Your Money Go? |Getentrepreneurial.com

downloadWhen setting up a payments system for your business, it is important to do your research. Not only is it critical for you to get paid for your products and services, you also need to know how each potential option affects your bottom line. Interchange plus pricing and tiered or flat rate pricing both have their benefits, but it is also smart to understand how each works so you can make the best decision for your operation.

Interchange plus pricing is traditionally reserved for large companies and has the lowest possible costs for accepting cards as a form of payment. Fees applied to transactions are upfront, with rates determined on a per-card basis. Tiered pricing is the most common form of pricing for credit card processing services. This is also known as “bucket pricing,” and prices are usually high enough to cover fees.

Read More.