During the time when your business has been down due to the slow economy in addition to costs are rising for accepting a card? Yes, your rates and fees you the operater pay may be going up, way up depending on who you do business by way of.

One Merchant Services processor announced have been raising their rates by .27%!! What a huge increase. But it surely doesn’t stop right now. I’ve seen several other companies join the bandwagon and announce they have risen their rates very. The largest increase I’ve seen to date has been even.45%. So if you were paying 2% you will easily be paying 2.45%.

Please keep in the mind this is not Visa, or MasterCard raising their rates, it is the Best Merchant Accounts for Online Gambling Services Processing companies!

Time to get your Statements out!! You ought to have received these your past mail by at present. In the last paragraph on since page of your statement is where they usually disclose (hide) the rate increase. It % the rate is going up and/or a transaction fee ($.xx) increase. Furthermore, it states that you continue to process with the company May 1st possess to agreed to their rate increase.

It may the perfect to shop around for a different Merchant Services Provider if your current company is raising your rates. You wil discover numbers of Merchant Services Providers out there that are not increasing their processing rates.

I’m frightened at the number of business men or those answerable for the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that small business owners quit opening both of them. This gives these companies a real easy way to boost rates and fees since all the alerts and communications are on the statements.

I have visited the payments processing industry as a executive (OK salesman, but account executive sounds better) every one of the 9 years. One of the things I’ve learned is there have a of games being played at your expense.

It is crucial to process your credit cards as efficiently as possible to reduce the fees you pay. A lot of the fees provided for can be avoided if you know what to look to have.