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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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Luckily, plugging the cash flow leak is possible by getting interchange pass through pricing instead of bundled pricing, and knowing what to look for. You don’t have to worry about losing money on credit card refunds if you found your processor here at CardFellow. We don’t allow processors to structure pricing in such a way …
Credit Card Processing Refunds: Is Your Processor Stealing Your Money? Read More »
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Some processors only offer daily discounting, while others offer a choice. If you open a merchant account that lets you choose, monthly discount is usually the better option. Let’s look at the differences between daily and monthly discount. Difference Between Daily and Monthly Discount The names give it away. With monthly discount, your processor deducts …
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Knowing the lay of the land will help you better identify how to get the best processing solution. Once you’re done reading this article, check out our more detailed breakdown of where credit card processing fees come from. For now, let’s dive in to how credit card processing works. The bankcard networks that ferry billions …
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It’s not really as simple as that, though. In actuality, a variety of entities are working behind the scenes, and it’s the card-issuing bank that ends up taking the largest piece of the pie. The more you know about what affects your business, the better armed you are to improve your position in the market …
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Often shortened from “interchange reimbursement fees,” interchange refers to a set of categories that are used to determine the rates for individual card transactions. Every category has requirements for eligibility and a rate associated. Those rates change at the card brands’ discretion, typically twice a year. Interchange can be a complex topic. For the purposes …
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For businesses searching for a new merchant account without actual processing data, the effective rate should be interpreted as a general indicator of cost-effectiveness — not as a precise measurement. However, it is still extremely important in determining the best processing solution. Basics of Effective Rate and Processing Fees Varying interchange fees make predicting the exact …
