A payment gateway connects the interface device used by a consumer to the merchant’s payment processor. That processor sends the transaction to a processing bank which authorizes the consumer’s credit card payment and sends it back to the processor, who deposits the credit into the merchant’s bank account. Examples of interface devices are credit card terminals, virtual terminals, POS software systems, E-commerce sites, and mobile
Put your home services business on autopilot. Nothing beats taking orders while you sleep with online booking. Except for maybe online payment processing connected to those orders. But how about having an easy mobile app that integrates to your CRM software and manages your crew for you? Here are some must have features: 1. Managing crew with GPS routing to save time and dollars. 2.
In the current and post COVID era, consumers demand fewer people interactions and more convenient ways to order, pay, and pick up items. All over town, we see signs with phone numbers encouraging customers to call in orders. But even the phone is time-consuming for consumers getting busy signals and time-consuming for merchants who have to pay staff to answer the phone. Time is money.
We understand that this is a trying and uncertain time for small businesses. COVID-19 restrictions have made things difficult with ever changing rules and regulations. Many businesses are struggling to stay afloat but fortunately there are several measures being implemented at both the state and federal level to help ease the economic burden on business owners. We are happy to share some of these options
In previous blogs, we talked about Scam #1, the Fraud of Lack of Disclosure, and Scam #2, the Scam of Raising Rates. The third scam against merchants is the lack of service, which I call 1-800-IGNORE- ME. The credit card processing salesperson mostly focuses on rates and supposedly how much they will save you. But a hidden fee is the lack of service and support.
In a previous blog, we talked about Scam #1, the Fraud of Lack of Disclosure. Some merchant processing salespeople leave out significant rates and fees in their quotes. If you haven’t read that blog, click here. A second scam that processors commit against merchants is the scam of raising rates. Their salespeople don’t mention this to their prospects. Embedded in the 30 page, small print,
How Can I Reduce My Credit Card Processing Fees? 1. You can reduce your rates by swiping a card versus keying it into a terminal or virtual terminal or online at an eCommerce site. When the card is swiped and present, the chances of a chargeback are lower. Therefore, the bank issuing card associations assign a lower rate to that swiped card than to a
We wanted to share some information regarding tax liability on PPP loans with our small business community. We are passing on this information gathered from consulting with our accountant, doing a preview of our tax liability for 2020. We received a PPP loan. Our accountant informed us that we need to pay taxes on the money according to the current tax law. However, we plan
It is scandalous to me that some who represents a financial institution like a merchant services processor would lie, trick and scam a prospective merchant for its services! But this appears to be the norm. Electronic Money Company is definitely the exception in the industry. Scam #1: The Fraud of Lack of Disclosure At the start of a conversation with a payment processor, always the
The answer is very carefully, and watch out for hidden fees not represented. Here is my most recent story about rate comparing. A client, who owns two businesses, asked me to get with his accounting person to set up his third business. I thought I would be getting a new application ready immediately, but here was the challenge. The owner who referred me had no
Only pay fees on debit card processing.
$0.00 transaction fee on credit card processing
