Understanding Merchant Services from the Viewpoint of a Bank!

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Understanding Merchant Services from the Viewpoint of a Bank!

Merchant services from the viewpoint of the Bank are complicated. On the one hand it is supposed to spin off a revenue stream. On the other hand, it is challenging to support an add-on service of which you know little about. You get complaints from customers regarding various merchant services issues ranging from slow deposits, complicated contracts, high fees, poor customer service, and so on … Read More

Understanding Merchant Services from the Viewpoint of a Credit Union!

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Understanding Merchant Services from the Viewpoint of a Credit Union

Merchant services from the viewpoint of the Credit Union are complicated. On the one hand it is supposed to spin off a revenue stream. On the other hand, it is challenging to support an add-on service of which you know little about. You get complaints from members regarding various merchant services issues ranging from slow deposits, complicated contracts, high fees, poor customer service, and so … Read More

Stop Losing Money on Laboriously Training New Employees!

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Training New Waitstaff

Time is money. And time is a valuable resource, as the adage goes, therefore it is better to do things as quickly as possible. When it comes to running your restaurant establishment, training new employees with a manual paper system or cash register system, wastes a lot of time and frustrates customers. I recently went to a restaurant where a supervisor was following a newly … Read More

How an Industrial Supply Company, or B2B Merchant, Can Save Money on Credit Card Processing!

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Industrial Supply Company, or B2B Merchant, can save money on credit card processing!

Recently a local supply company in Albuquerque called me because they said their credit card machine was not working and I came recommended to them.  After our initial meeting, I found out that there was nothing wrong with their credit card terminal. The issue was that the corporate office required them to enter transactions into a virtual terminal on the Internet, and it consumed 15 … Read More

Payment Processing Sneaky Rate Increase Scam!

Ginger HollowellScams Against MerchantsLeave a Comment

It is amazing to us at Electronic Money Company, how many merchant service providers think up new fees and sneak them in under the radar in small print on a merchant statement! Many merchants don’t even look at their merchant statements because they don’t take the time to read the details every month, or because they have bookkeepers whose job is not management of money, … Read More

Inventory Shrinkage Beware!

Ginger HollowellRestaurant POS, UncategorizedLeave a Comment

How to protect your restaurant against food theft. Waiters can hurt your profit margins in a variety of ways, and rarely is restaurant theft as simple as taking from the cash register, or not ringing up an order and pocketing the money. Working around food all day can tempt even the most honest employee. I mean restaurant employees get hungry too. But they can also … Read More

Waiter Theft Scam in Restaurants – Why You Need the Right POS!

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Waiter Theft Scam in Restaurants

Sometimes waiter theft is planned and sometimes it is merely an oversight that ends up costing a restaurant owner money leaking from his bottom line. For example, the “Soda Pop Game” is a planned waiter scam to move money from the restaurant owner to his own pocket. “Beverage Amnesia” is an oversight when the restaurant gets slammed. The Infamous “Soda Pop Game”! This employee theft … Read More

PayPal vs Your Own Merchant Account

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

PayPal vs Your Own Merchant Account

If you own a business, your customers must be able to pay for your goods or services using credit cards. To enable you to accept credit cards, you will need a merchant account, or you can opt to use a third-party processing service such as PayPal. PayPal is what is called aggregate processor, which means they lump all their merchants into one merchant account. One … Read More

Liquidated Damages

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Liquidated Damages

Liquidated Damages in a Credit Card Processing Agreement The Most Costly of Termination Fees Period! When you choose a credit card processor, you will be asked to sign a merchant services agreement that includes a commitment of between three and five years. In some cases, breaking a merchant services agreement early will simply result in a termination fee. But beware of credit card processing providers … Read More

Attention Roofers! Here’s How to Choose a Credit Card Processor for Your Roofing Business!

Ginger HollowellCredit Card Processing/ Merchant ServicesLeave a Comment

Get a merchant account - Roofing business

Some roofers choose not to take credit cards for their roofing jobs, and want everyone to pay with a check. However, not everyone has enough cash in their checking account to cover the roofing job.  If you don’t take credit cards, you can lose business to a roofer who does take cards. Secondarily, taking credit cards offers a trust factor for your customers. They know … Read More