Tiered Pricing With this pricing format, the processor throws all transactions into three buckets with only three rates. Generally, one bucket is for swiped transactions, one for keyed transactions and rewards cards, and a third for business cards or keyed-in rewards cards. The buckets are called qualified, mid-qualified, and non-qualified. This pricing system allows for an easy to understand merchant statement because there are only … 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