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
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,
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
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.
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
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
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
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
