Secret #3 – The Myth about the Effective Rate

MerchantProcessingNMCredit Card Processing/ Merchant Services

The effective rate is the total monthly cost of credit card processing divided by the volume of processing. The effective rate usually varies from 1.5% to 4%+ depending on the merchant’s industry and type of transactions. If a merchant receives mostly debit cards which have a low risk and low interchange rate, the effective rate will be a lot lower … Read More

Secret #2 – The Secret of the So Called “Hidden Fees”!

MerchantProcessingNMCredit Card Processing/ Merchant Services

These are possible, extra surcharge fees for the processor. They are not usually included in a rate comparison, so look them over carefully on the processor’s application. Many times these fees are not listed on the credit card processing salesman’s comparison. They are only on the application. Many times they are denoted in very small print. So ask to review … Read More

Secret #1 – Are you being proposed Tiered Pricing or Cost Plus Pricing?

MerchantProcessingNMCredit Card Processing/ Merchant Services

There are three determinations of the fees for accepting credit cards: the interchange cost, the brand fees and the processor’s surcharge. This is the rate and transaction fee set by the bank associations to collect “interest” on the money “loaned” to the cardholder for 30 days until his credit card payment is due. The bank that issued the card to … Read More

PCI: It’s Worth It for Your Business

MerchantProcessingNMCredit Card Processing/ Merchant Services

No matter if you’re a small business or a large corporation, if you accept credit card payments, you need to ensure that you’re PCI compliant. The Payment Card Industry Data Security Standard (PCI DSS) was created to ensure that both merchants and consumers are safe from data compromise. For business owners, PCI compliance means completing the PCI DSS Self-Assessment Questionnaire … Read More

How Technology Can Create a Database of Your Customers and Help You Identify Their Buying Preferences

MerchantProcessingNMPoint of Sale Computer/Tablet Systems

A common trait we see among small businesses is that they are not taking advantage of the latest trends in smart technology. With new technology trends and applications, businesses can streamline how they receive information from customers, and even offer personalized rewards based on their preferences. Cloud-based tablets are growing in popularity for small businesses, and for a good reason. … Read More

3 Easy Ways to Grow Your Business

MerchantProcessingNMPoint of Sale Computer/Tablet Systems

Running a business is no simple task. Making sure that business continues to grow its customer base and increase revenue is something else altogether. Many small businesses fail because they tend to fall victim to stagnation. By not staying up-to-date with the latest technology, smaller organizations separate themselves from the bigger brands who are maintaining loyal customers through innovation. As … Read More

Protect Your Business & Your Customers with P2PE

MerchantProcessingNMCredit Card Processing/ Merchant Services

Stories of large data breaches are becoming all too common an occurrence these days. As consumers continue to have their sensitive information stolen by means of everyday purchases, both customers and merchants are wondering how they can keep their information safe. While there are several measures a vendor can take to improve the security of their payment data, P2PE or … Read More