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At CardFellow, we received this message from a curious business owner. 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 …
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Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing is like any other industry in that there are fixed costs and markups. Fixed costs are those that a processor can’t change, and markups are open to discussion. Understanding the components of credit card processing cost …
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There’s a lot of confusion about American Express merchant services. We regularly field questions about discount rates, pricing models, and settlement. In this article, we’ll explain everything you need to know about accepting American Express at a business. Just looking to see costs to take Amex cards? For the most up-to-date pricing, use our free …
Understanding American Express Merchant Services Read More »
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If you use Intuit for your merchant services, you may find your monthly statements confusing. This tutorial will show you to read an Intuit merchant statement, and it will highlight the aspects of Intuit’s credit card processing services that make it expensive and opaque when compared to more competitive options that we will cover. The …
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If you’re wondering if your credit card machine can be reprogrammed, here’s the scoop: 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 …
Can I Reprogram My Credit Card Machine For Different Processors? Read More »
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Tiered pricing is an opaque and expensive merchant account pricing model.
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This article will provide the general steps and knowledge necessary to decipher your small business credit card processing statement, and will link to detailed examples of actual statement analyses that will allow you to follow along as we dissect various merchant account statements. Existing Clients: If you used CardFellow to find your current processor and …
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A contract does not equate to a cancellation fee and having a contract term end is not really a good thing.
