During the time when your business has been down due to the slow economy including your costs are rising for accepting credit cards? Yes, your rates Online Gaming, Casino and eSports Merchant Accounts fees you the operater pay may be going up, way up depending on the company you do business with the.
One Merchant Services processor announced they were raising their rates by .27%!! That’s a huge increase. But it surely doesn’t stop there. I’ve seen several other companies can get on the bandwagon and announce they have raised their rates very. The largest increase I’ve seen so far has been even.45%. So if you were paying 2% you will be paying 2.45%.
Please keep in your this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to buy Statements out!! You ought to have received these previously mail by here. In the last paragraph on since page of your statement is where they usually disclose (hide) the rate increase. It are sometimes % the rate is going up and/or a transaction fee ($.xx) increase. What’s more, it states that if you continue to process with the company May 1st you’ve agreed to their rate increase.
It may proper 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 owners or those in control 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 salespeople quit opening both of them. This gives these companies a real easy way to make rates and fees since all the alerts and communications are on the statements.
I have visited the payments processing industry as a free account executive (OK salesman, but account executive sounds better) for over 9 years. Among the things I’ve learned is there are of games being played at your expense.
It is very important to process your own cards as efficiently as possible to reduce the fees you pay. A lot of the fees as opposed to can be avoided if you know what to look for.