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merchant services rep Archives - Your Merchant Services Rep : Your Merchant Services Rep

Your Merchant Services Rep

Credit Card Processing & Payment Solutions for Business and Non-Profits by Clark Vandeventer

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A few weeks ago I called on a prospective client.  I had just recently begun processing for the business next door.  I told my prospective client, “I don’t do this every day, but I just saved your neighbor 35% on their credit card processing fees.” 35% is pretty big.  I wanted to communicate that those kinds of savings are possible, even if they don’t happen every day. And then I  [ Read More ]

When I first started as a merchant services rep I would have said ABSOLUTELY NOT! But PayPal is good for some things. If you’re a serious merchant the answer is almost certainly no. I have a PayPal account because it’s an easy option that everyone is familiar with which allows me to collect a very small number of payments. But if credit card payments represent a significant amount of your  [ Read More ]

I hear merchants agonize over whether they should run a transaction as credit or debit.  Their processor has different transaction costs on credit transactions vs. debit transactions. I often see processors who charge 20 cents on credit transactions who are charging as much as 75 cents on debit transactions. I keep it simple for my clients.  It ALWAYS better to run a transaction as a debit. The rate of every  [ Read More ]

One of the main factors in determining the rate on any credit card transaction is the risk involved.  What’s the fraud risk?  What are the chances that a purchase is being made with a stolen credit card? The more you mitigate that risk the lower rate you’ll pay.  (Assuming your processor has you set up on a fair pricing structure that allows you to take advantage of the fact that  [ Read More ]