No Rate or Fee Increase

MerchantProcessingNMCredit Card Processing/ Merchant Services0 Comments

The way the game is played: A processor starts talking to a merchant about lower rates. They sign them up with an “introductory” low rate but forget to tell the merchant it is only introductory. Or they lie about their comparison analysis of rates and take advantage of the trusting merchant who does not know how to read a merchant … Read More

The 1-800-IGNORE-ME Tech Support Story! – NOT with Electronic Money Company

MerchantProcessingNMCredit Card Processing/ Merchant Services0 Comments

Have you experienced this tech support situation? Now you have to start all over yet again dialing the tech support at 1-800-IGNORE-ME! We have our own in house client service and support. We know our client’s by name and they know us by name. We know their merchant ID # and their model of equipment. We already are level 3 … Read More

Compare a Merchant Account to PayPal

MerchantProcessingNMCredit Card Processing/ Merchant Services0 Comments

PayPal is what is called aggregate processor. They aggregate all their merchants into one merchant account. One benefit is that they do not charge individual merchants PCI fees, because none of their individual merchants have an individual merchant account. But let’s also examine the disadvantages for the merchant.

Daily Discount Nightmare Compared to Monthly Discount!

MerchantProcessingNMCredit Card Processing/ Merchant Services0 Comments

Most merchants get charged all their credit card processing fees at the first of the month following the month when the transactions took place. Credit Card deposits each day match their cash register daily credit card deposit summary. At the end of the month the deposits on their merchant account monthly statement match exactly their bank statement. This is called … Read More

Fees on Refunds

MerchantProcessingNMCredit Card Processing/ Merchant Services0 Comments

When a merchant runs a transaction, the amount is assessed a rate and a transaction fee. Generally the rate is an assessment of risk and the transaction fee is a cost for accessing the digital network. When the merchant refunds a transaction, only a transaction fee is charged. The rate is not charged a second time because there is no … Read More