People ask all the time, when do I get my credit card deposits in my bank account? In 1950, when the Diner’s club card was established as an alternative to cash, and in particular used when taking business clients out to dinner at restaurants, the turnaround time for deposited funds to the merchant was 60 days! When we first started selling merchant services in the
Zero is a BIG DEAL! Zero Cost Credit Card Processing Can Save You 3 to 4%! How can you legitimately pass the credit card processing fees off to the consumer and put that 3 to 4% back in your pocket? Here are the various ways: Raise your prices to cover the overhead cost of payment processing. Charge a “Surcharge” for Visa and MasterCard charges. A
The Threat of Online Skimming to Payment Security According to the PCI Security Standards Council, and the Retail and Hospitality Information Sharing and Analysis Center (ISAC), a growing threat that merchants and service providers need to be aware of is Web-based, or Online Skimming. What does this mean? ‘Skimming’ is a common method of stealing credit card information by using a small electronic device that
Every credit card processing salesperson says they have the best service, and a support line available 24/7/365! Here is the NON-SPIN version of that: You dial the 1-800-number for technical support to ask a question about your statement, or perhaps your credit card terminal has an error on the screen. Step 1: Please enter your merchant ID#. (Oh, you don’t have it and now you
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
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
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
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
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
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
Only pay fees on debit card processing.
$0.00 transaction fee on credit card processing