Is There a Value to Being PCI Compliant OR Is it Just Another Way for Card Processing Companies to Make Extra Money? I recently met a woman, named Merissa, from Big Byte, a company that does data storage, IT for large businesses and disaster recovery. Merissa and I talked a lot of about PCI. Yes, they know companies who have been hacked. She told me … Read More
FRAUDULENT Credit Card Transaction SCAM
Watch Out for This FRAUDULENT Credit Card Transaction SCAM! I just heard from one of my customers who got an email and text from someone who wanted to use their credit card for a HUGE SALE! I am changing the name of the merchant and proprietor, but wanted to let you all know about this SCAM! We have heard this same story several times over … Read More
A Secret of Success Poem
I ran across this poem when I was re-reading Think and Grow Rich by Napoleon Hills. “I bargained with Life for a penny, And Life would pay no more, However I begged at evening, When I counted my scanty store; For Life is just an employer, He gives you what you ask, But once you have set the wages, Why, you must bear the task. … Read More
Here is how we work at Electronic Money Company
Here is how we, at Electronic Money Company, work differently from ALL the other credit card processors out there. Here is how we ease the confusion and pain of merchant services from the beginning through the life of your business. We are honest up front when we do a comparison analysis of your merchant statement. We do not leave any information out of the comparison, … Read More
Gobbledygook Fake News!
In the credit card processing business, it is common, or should I say most probable, that every merchant will run into a salesman who blows smoke, and sells a bill of goods that is FAKE NEWS! In fact, most likely, every merchant in the country has one time or another gotten taken, scammed, or hoodwinked with “I am going to save you money on your … Read More
Square vs Your Own Merchant Account
How Do I Decide if I Should Choose Square or Get My Own Merchant Account from a Merchant Services Provider? Price Consideration: Square is set up for the small volume merchant. Square does not have a monthly fee or transaction fee; only a rate of 2.75%. Let’s compare this pricing to a typical merchant processor charging $10 per month plus 1.89% + $.20 per transaction. … Read More
How Can I Lower my Credit Card Processing Rates on Corporate Cards up to 1%?
Why Is It a Problem? What is the Solution? Problem: Corporate cards have the highest payment processing rates for merchants. Why? Here is the education behind why corporate and business types of cards cost the merchant a higher processing rate. The situation is that corporate cards are higher risk of being charged back because they are abused by employees who are issued the cards from their … Read More
To Surcharge Card Processing Fees or Not?
Visa and MasterCard now allow surcharging. This means you can pass the cost of the card processing to the customer. The rules are that you have to register with Visa and MasterCard, and that you can only charge the average of the credit card processing fees and not more than 4%, even if your actual rates are higher than that. Also, you must post a … Read More
Creating the Right Culture in Your Business
I am going to credit this success tip to Rob Weinstein, co-owner of Event Rental Systems (ERS). We recently attended a seminar with their clients in Albuquerque, NM. ERS is a software company with a product for businesses that rent equipment and want to take bookings online. Rob hired a business coach who spent two full days with him and his partner, Corey, establishing their … Read More
True Story About a Low Rate Hussle!
A Long Time Client is Being Hussled! One of my long time clients called me and asked a strange question. She was bombarded by companies calling her to switch her processing. Tired of the hassle she finally said yes, she would listen to the salesperson’s program! She made an appointment with her. Then she called me and asked if I would be at her side … Read More
