Telemarketing is prevalent in this industry. The telemarketer has a script that reads something like this: ‘This is your credit card processor calling and we have to make an update to your credit card terminal.’ Or they say: ‘This is your credit card processor calling to inform you that your terminal is out of date and it needs to be replaced.’ Or they identify themselves
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
Time is money. And time is a valuable resource, as the adage goes, therefore it is better to do things as quickly as possible. When it comes to running your restaurant establishment, training new employees with a manual paper system or cash register system, wastes a lot of time and frustrates customers. I recently went to a restaurant where a supervisor was following a newly
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
It is amazing to us at Electronic Money Company, how many merchant service providers think up new fees and sneak them in under the radar in small print on a merchant statement! Many merchants don’t even look at their merchant statements because they don’t take the time to read the details every month, or because they have bookkeepers whose job is not management of money,
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
