Jan

16

If it looks cheaper, then is it really cheaper?

By datto

I probably get a few Business Owners a week who respond to a detailed merchant account quote that I email them w/ ‘what a great deal so and so company is offering’ without wondering “why does this deal sound so good compared to other ones?”

Transparency (as you’ll see in this example), Track Record (do they have any Happy Customers?) and Competitive Pricing (fair, not rock bottom) are the three most important things to look at when looking for Merchant Services for your business.

Here’s a great example to illustrate what Point of Sale Companies are leaving out of their quotes to appear ‘CHEAPER’.  Name is changed in this example.
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Oct

7

You Can’t Afford NOT to Get Credit Card Acceptance

By datto

THIS IS A LONG VERSION OF AN EMAIL RESPONSE TO A RECENT CUSTOMER.  IT’S MORE DETAILED FOR THE PURPOSE OF THIS POST:

“Ms. Smith, I appreciate what you are saying, however, I’ve been talking to thousands of Business Owners just like yourself for over 6yrs (yes, I am biased).  I’ve seen everyone’s numbers regardless of volume or business model.
Credit card acceptance is essential in this economy for any Small Business Owner.  Just consider these ideas below.
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Sep

30

Is it Possible to Get a Rate of 1.37% or 1.42%?

By datto

Lately, Aug/ Sept 2009, I’ve been getting a lot of Business Owners say that they are being offered 1.37% or 1.42% for a qualified rate for payment processing.  First, I’d like to refer you to the last Blog Post that I wrote on Visa and Mastercard’s Wholesale Pricing to the Six Credit Card Processors in Canada.  The gist of that post is that if the rate that you’re being offered is LOWER than the publicly posted Wholesale Pricing by Visa, then the company that is offering this fantastic deal is probably going to make up for it in other fees or will change this deal on you as soon as you penn your autograph to their multi-year contract.

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Aug

17

Visa Canada Interchange Rates

By datto

Just type into your Google search bar “visa canada interchange rates”.  After 5mins of poking around, you’ll eventually come to their public, online PDF of their basic interchange rates.
The most simple way to understand what interchange is in regard to payment processing, without getting into the complexities of how the money flows or who issues the credit cards, etc., is to look at these rates as if they are wholesale pricing or buyrates From Visa to the Six Credit Card Processors in Canada.

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Feb

9

Card Processing Fees are Tax Deductible

By datto

It’s almost tax season and it’s time to round up all your debit and credit card processing statements for the last year.  If you are missing them, then it’s time to call up your provider and get them.  Whatever your payment processing costs are,

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Jan

14

Higher Rates? Why?

By datto

In this tough economy every penny counts, so it is upsetting to most that Credit Card Processors operating in Canada have and are making changes that increase your costs of processing credit cards.

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Jan

6

Tighter Reign on Credit & What It Means To You as a Business Owner

By datto

9 Predictions for Credit Cards in 2009 is an SCARY but TRUE article about what card issuers are going to do to card carriers as this economy keeps tumbling.

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Jan

5

Breaking Credit Card Processing News that Applies to You!!!

By admin

Below are two great articles that are very important for Canadian Business Owners who use credit card processing for their businesses.

Who’s really paying for the high end corporate rewards cards?

What can a group of business owners do together against rising credit card fees?

Jan

4

Payment Processing News That Pertains To CDN Bus Owners

By admin

Here’s an article that highlights some issues of concern for Canadian business owners in regards to debit and credit card processing fees.

Jan

4

Going Out of Control!

By admin

Here’s a good article on credit card processing in Canada in regards to escalating rates and fees!

Jan

4

What You Need To Know

By admin

A great article that every Canadian business owner that has a traditional retail storefront business model needs to know in regards to payment processing for their business.