During the time when your business has been down due to the slow economy also as your costs are rising for accepting credit cards? Yes, your rates Casino and Online Gaming Merchant Account fees you the operater pay may go up, way up depending on the person you do business while using.
One Merchant Services processor announced had been raising their rates by .27%!! It really is a huge increase. Though it doesn’t stop there. I’ve seen several other companies get on the bandwagon and announce they have raised their rates additionally. The largest increase I’ve seen significantly has been a.45%. So if you were paying 2% you will easily be paying 2.45%.
Please keep goal this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to make your Statements out!! You should have received these planet mail by here. In the last paragraph on since page of your statement is where they usually disclose (hide) the rate increase. It may be a % the minute rates are going up and/or a transaction fee ($.xx) increase. It also states that you continue to process with the company May 1st you might have agreed to their rate increase.
It may ideal to shop around for a different Merchant Services Provider if your current company is raising your rates. There are masses of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened at the number of online marketers or those in charge of the books for companies, who don’t even bother opening their statements any further! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that businesspeople quit opening these. This gives these companies a real easy way to raise rates and fees since all the alerts and communications are on the statements.
I have held it’s place in the payments processing industry as business relationship executive (OK salesman, but account executive sounds better) for upwards of 9 years. Amongst the things I’ve learned is there degree of complexity of games being played at your expense.
It is extremely to process your own cards as efficiently as possible so reduce the fees you pay. Lots of the fees you pay can be avoided if you exactly what to look over.