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Ben Dwyer's articles
Increasing popularity of pass through merchant account pricing formats has caused confusion with a common industry term that is making it tougher to compare merchant account quotes.
Posted: 2010-04-07
Category: Business
Some merchant account pricing structures are much more cost-effective than others, but some of the cost-saving aspects of the best merchant account price models aren't readily apparent. Knowing which price models are best, and how to utilize them to keep costs low can help you save hundreds of dollars a month in credit card processing fees.
Posted: 2010-03-03
Category: Business
We've put together the following ten questions to ask prospective merchant service providers to help you avoid some of the largest pitfalls that face businesses as they're in the market to get a merchant account.
Posted: 2010-02-22
Category: Small Business
When shopping for the best merchant account, you're really looking the lowest markup over base costs. There are true costs associated with credit card processing that merchant service providers can't control.
Posted: 2010-02-17
Category: Merchant Accounts
Complex rates and fees and obscure merchant account pricing contribute a great deal to the healthy skepticism that merchants feel toward the credit card processors. But one of the greatest contributors, for which there is little justification, is the outrageous practice of leasing credit card equipment used throughout the industry.
Posted: 2010-02-17
Category: Small Business
An online search for merchant accounts through your favorite search engine will produce countless results from merchant service providers promising retail rates as low as 1.39% and e-commerce rates as low as 1.99%. You know the ads, the ones that "guarantee the lowest rates and fees". Aside from the fact that these rates seem too good to be true, doesn't it seem kind of that every provider can guarantee lowest merchant account rates?
Posted: 2010-01-28
Category: Business
When it comes to credit card processing and paying interchange fees - the more you make, the more you pay. But when it comes to the rates and fees that you pay to your merchant account provider, this is not always the case. Tiered, enhanced recover reduced (ERR) and interchange plus pricing are all volume based pricing models, but flat fee merchant account pricing is not.
Posted: 2010-01-26
Category: Merchant Accounts
Businesses that accept credit cards feel the pinch when Visa and MasterCard raise their interchange fees, but some are affected more than others. Depending on which type of pricing structure your merchant account utilizes, you may be paying a lot more than you think when interchange fees are increased.
Posted: 2009-12-28
Category: Merchant Accounts
Shopping for or comparing merchant accounts is a task that many business owners dread. The pricing is confusing, the sales pressure is intense and every provider promises to offer the lowest rates and fees. Luckily, there are two fundamental things that you can do to cut through the fog and ensure you're paying as little as possible to processing credit cards.
Posted: 2009-12-16
Category: Merchant Accounts
The interchange plus merchant account pricing model is quickly becoming the most sought after form of pricing for businesses seeking the best merchant account. It's often touted as the only truly transparent way to process credit cards. While this may be true, it doesn't tell the whole story.
Posted: 2009-11-30
Category: Business
Over the years the merchant processing industry has done a phenomenal job training merchants to look at insignificant details when they compare merchant accounts. Even on an otherwise transparent pricing structure like interchange plus, providers are able to squeeze substantial profits from an account that appears on the surface to be inexpensive.
Posted: 2009-11-30
Category: Business
Credit card processing is one of the greatest expenses that a business has. Consumer related businesses are especially affected by processing charges. That's why it's so important to have a low cost processing solution, and why it's so unusual that many people shop for and compare credit card processors with a backwards approach.
Posted: 2009-11-30
Category: Business
With all of the information floating around about credit card processing, it's often hard to tell what's true and what's not. Being misinformed about credit card processing can be a costly oversight. Common misconceptions about merchant accounts can lead to costly mistakes.
Posted: 2009-11-13
Category: Business
If you've ever asked a merchant account salesperson what their rate is, you asked exactly what they wanted to hear, and you're probably overpaying for credit card processing services just like the majority of businesses. "What's your rate?" is the most often asked question by merchants when they're looking for the best merchant account - but it's the wrong question to ask.
Posted: 2009-11-11
Category: Business
If you're like most people, you don't give too much thought to the process of issuing refunds to your customers for credit card purchases. After all, it's a pretty easy process - just swipe their card through your machine and follow the steps to initiate a return of their purchase. The funds will be credited back to your customer and you'll be issued a refund for the original processing charges, right?
Posted: 2009-11-09
Category: Business
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