How a Good Merchant Services Program Keep Clients with Your Bank Is your current processor for merchant services shrinking your residual income and causing your clients to put their deposits into another bank? A good merchant services program should not only keep your merchants with your bank forever, but grow your portfolio of merchants doing their card processing with you as well. So how does
Last Father’s Day, I stole $100 from a local restaurant. I didn’t wear a ski mask and wave a pistol in the cashier’s face. I didn’t break into their safe during the dark, dark night. I didn’t have to do anything that dramatic. In fact, it was like taking candy from a baby. Now, before you start thinking you’re reading a report written by a
I recently had the pleasure of attending another event with the success club I belong to. It is called the Global Information Network. We study together the principals of Napoleon Hill. We practice the teachings of Dale Carnegie in How to Win Friends and Influence People. We share with each other the books by Esther and Jerry Hicks, more specifically, Ask and It Is Given.
‘No Hidden Fees’ Merchant Scam These days, everything we hear from politicians and advertisers has a SPIN. ‘No Hidden Fees’ sounds great, doesn’t it, especially when it is in bold type in a big font on a credit card processor’s marketing. Here is how this SPIN and the ‘No Hidden Fees’ Merchant Scam goes down. Many processors pronounce to their prospects and put in writing
Scams Behind the Bar — Is Your Restaurant Losing Money on Bartender Baloney? According to Preventing Internal Theft – A Bar Owner’s Guide, by Robert Plotkin, there are nearly two dozen areas of vulnerability that can be exploited behind the bar. Bartenders can give away free drinks, over-charge or under-charge the clientele, pocket the sales proceeds of unrecorded drinks, substitute well liquor for call brands,
A merchant sued Visa and MasterCard for the unfairness of taking on the credit card processing fees. They won with some qualifications. They can’t pass fees back to consumers for debit cards, only credit cards. As a result, many processors have programs to automatically add a surcharge fee onto a credit card transaction. But the merchants are getting pushback from consumers. Here is a discussion
Employee theft in restaurants is a rampant issue. Would you believe that 75 percent of restaurant employees steal from their workplace at least once, if not repeatedly? In fact, according to the National Restaurant Association, internal employee theft is responsible for 75 percent of inventory shortages, and up to seven percent of restaurant sales. This is a true story that happened to friends of ours
Can I Connect a New Credit Card Processor with QuickBooks? Can I Execute Payment Processing in QuickBooks with my Own Processor? The answer to both is YES! Many merchants think they have to use QuickBooks’ merchant services processing in order to integrate their credit card payments within QuickBooks. But that is not true. QuickBooks, developed and marketed by Intuit, opened up their software for API
Merchants have been complaining about credit card processing fees since the beginning of credit cards. The fees were initiated in the first place to replace the fees banks collected on loans. Consumers who don’t have enough cash were in effect passing on their interest fees on loans to the merchants. But merchants took on those fees because sales were lost if they didn’t. Consumers can
Did the Salesperson Promise You the World, But After the Fact You Are Treated Like 1-800-IGNORE-ME? Did you get the low rates you were promised? Did they stay low or creep up over time? What about service? Credit card processing tends to click along like clockwork until it doesn’t. Are you getting the support you need? Recently, the US experienced a crash of Verifone VX520
