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
How do you feel when you call up a company that sold you a product or service because you have a question; a concern; you have a gripe; something is not working right; you don’t understand the billing; or for whatever reason you need to speak to a live human. Do you like it when you have to listen to a bunch of prompts, of
If you’re running your business on a POS system that “comes with” its own payment processing, there’s a good chance you’ve felt it… those rates creeping up, support getting slower, and the sinking feeling that you’re stuck. You’re not alone—and more importantly, you’re not as locked in as you think. Let’s talk about what’s really going on, and how to fix it. A lot of
Adding payment processing to your software matters tremendously because of the added revenue for your software company. What matters also is your choice of processor. Gingergaye here with Electronic Money Company. Today I am going to discuss why choosing the right payment partner up front with a strong relationship manager sticks your software customers to you long term while allowing you to focus on software
Many businesses today are adopting dual pricing as a way to control rising credit card processing costs. Instead of absorbing the fees themselves, merchants offer customers two prices — a cash price and a card price. Customers who pay with credit cards cover the processing cost, while those who pay with cash avoid the extra fee. If your business processes large transactions, you can offer
Many ISVs initially think they are in the software business, but the real profit often comes from payments. The Revenue from Payment Processing Outperforms the Software Revenue Here’s how the revenue model of payment processing works. The fees that the merchant pays to accept credit and debit cards are comprised of the following: The banks who issue the cards to consumers earn the wholesale interchange
If your business accepts a lot of corporate or government credit cards, a major change is happening in the payments industry. Depending on how you handle transactions, this could either increase your costs—or help you save significantly. What Is CEDP? CEDP stands for Commercial Enhanced Data Program. It’s Visa’s new system for determining which B2B transactions qualify for lower interchange rates. Why Visa Introduced CEDP
Click here to watch the video Here is an explanation of how to train an elephant. When the elephant is a baby, tie a strong chain around its ankle and tie the chain to a stake set in cement on the ground. The elephant will pull and pull to try to get free. At some point, the elephant gives up and accepts its fate of
Click here to watch the video In this article, I want to tell you a True Story of Genuine Service in Merchant Services and what happened to one of our customers. This story tells you why genuine customer service from your credit card processor can be so valuable instead of having to deal with long wait times and poorly trained zombies at 1-800-IGNORE-ME. Hi, I
Click here to watch the video Today in this video I want to speak more specifically to software developers and app developers about a specific challenge when you’re trying to integrate payment processing with your software. Some softwares charge a license fee to their clients and some of them charge a transaction fee or a combination of both. Supposed you are developing an app for a
Click here to watch the video Payment Processing Integrated with Software. What are the benefits of integrating software with payment processing? First of all, it is beneficial to the software company’s clients. Payments are such an integral part of their business that it makes so much sense to have payments integrated, making it easier for clients to set up their system for the collection and
Click here to watch the video Hi Gingergaye here with Electronic Money Company. In this video I want to talk to you about Zero Cost Processing. Yes, you heard it right, ZERO COST! All these years you’ve been paying Merchant Services fees, thousands of dollars. We can eliminate it and add that money back into your bottom-line. Here’s how it’s done. You put a sign
Click here to watch the video Let’s Compare Square to a Merchant Account! Square is highly advertised and has brand name recognition. Does that mean that it is the best payment processor for you? Let’s explore. Square is easy to sign up. The application process is easy and simple. I agree. They pretty much take everybody, no matter how small you are or how bad
Click here to watch the video Free Up Your Time so You can Live Your Dream! Isn’t that why you started a business in the first place? Put your business on autopilot using POS tablet technology versus a credit card terminal, a cash drawer and a cash register. Here is why. The old system consists of using a cash register for ringing up tickets and
Click here to watch the video Daily Discount Fees Vs. Monthly Discount Fees What is the difference? Monthly discount fees are when all your rates and fees are deducted from your bank account on the first day of the month following the month of payment processing. Your merchant statement is so easy to reconcile. Each daily batch is listed on the statement. You can easily
Click here to watch the video Credit Card Refund Scam Against Merchants! One of my clients called recently to ask some questions about refunding a customer. This particular customer paid a deposit on a custom engineering project and then decided to cancel the order. The merchant told this customer he would refund the card. However, the card holder argued that they didn’t have the card
Click here to watch the video What is PCI Compliance? PCI stands for Payment Card Industry. So a little background here… the United States used to have more fraud from credit card processing than all the other countries together. So one of the new adoptions was the chip card because the magnetic stripe can be copied easily by thieves and the chip card is encrypted
