One of my favorite sales stories from Zig Ziglar is the story about the old water pump. I think it is a perfect analogy for merchant services sales, because merchant services sales is about building a portfolio of residual income. The Story of the Old Water Pump The story goes that a couple of guys, Bernard and Jimmy, are traveling through a remote area in

If you are a business that accept commercial credit cards, there are ways to lower the high cost of interchange for accepting corporate and government credit cards. You need to understand what is happening with Visa’s Commercial Enhanced Data Program, or CEDP. A lot of salespeople are still talking about Level 2 and Level 3 processing to lower rates the way they did several years

If you own a business that processes large credit card transactions, there is something you need to understand about the merchant processor’s risk in handling your digital payments. When you accept a credit card payment, the money doesn’t simply move directly from your customer’s bank account into your business bank account with no risk to anyone in between. The acquiring bank and processor can have

Dual Pricing and Gross Receipts State Tax Considerations Only: There is an important concept that many business owners don’t fully understand when setting up a dual pricing program: the credit card price should be the regular, displayed price of the product or service, and the cash price should be presented as a discount from that price. Gross Receipts Tax Applies to the amount collected by

Dual Pricing – Why Your Credit Card Price Needs To Be Your Regular Price Dual pricing has become one of the most talked-about topics in the merchant services industry, and for good reason. Business owners are looking for ways to offset the cost of accepting credit cards without simply raising the price of everything for every customer. When structured correctly, a dual pricing or cash

The Next Evolution of Digital Payments The way we pay for things is changing, and I believe merchant services, sales reps, and business owners need to start paying attention to what is happening with stablecoins. We have spent years talking about digital payments, mobile wallets, tap-to-pay, and contactless payments, but stablecoins could be the next major evolution in how money moves through the payment system.

Why Choose Electronic Money Company? Why call Electronic Money Company? The answer is simple. We’ve been doing this for over 25 years. Our reputation has been built on being honest, transparent, and straightforward. When we do a comparison, we don’t play games with numbers. We don’t promise savings that don’t exist. We don’t hide fees in the fine print. We show you exactly what you’re

Attention auto repair shop owners. This article is specifically for you, although other business owners may find some similarities. Are You Paying Too Much to Process Credit Cards? Electronic Money Company recently saved an auto glass shop $2,000 per month on their payment processing fees. If you’re like most auto repair shop owners, when you first opened your doors, you were focused on getting customers,

When I am talking to merchants about their credit card processing rates, many times they ask my what my rate is? They think their rate is the total fees divided by the volume processed on their credit cards. They ask if I can beat that rate. But the rates vary on different types of cards and different ways of accepting cards, card present, over the

Let me tell you something every business owner needs to understand if you want to grow your revenue without constantly chasing new customers. Your regular customers are everything. New data shows that repeat customers generate six times more revenue than one-time or occasional shoppers. Six times. That’s not a small difference—that’s the difference between struggling month to month and building a predictable, growing business. And