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Understanding Fees Associated with Veterinary Merchant Services
Blending compassionate care for animals and efficient business management is essential for veterinary clinics and animal hospitals. Ensuring payments are accepted and processed securely and efficiently—a function referred to as veterinary merchant services—is paramount among the staff’s responsibilities. The myriad of fees associated with payments carries implications for the practice's financial well-being. This article delves into these fees, offering insights to help veterinary professionals navigate merchant service agreements adeptly, thus allowing them to devote more attention to their primary focus: caring for their patients.
PayJunction Team
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How Billback Rate Plans Mislead Business Owners
There are a few payment processing rate plans you can choose from, which vary depending on who you decide to work with. In the unfortunate event you work with an unethical Merchant Account Provider, you may end up on Billback or worse, Enhanced Billback.
Ursula Librizzi
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Three Types of EMV Non-Compliance Fees to Avoid
EMV or “chip” cards have become the US industry standard for credit and debit transactions made in-person at a business. There are now more than 1 billion EMV cards in circulation in the US, and in 2020, 73% of card-present transactions involved an EMV card being read by an EMV-capable terminal, up from just over half two years earlier. As a result, in-person fraud rates for counterfeit cards have plunged. According to a May 2019 report from Visa, merchants that accepted EMV chip-enabled cards saw a 76% drop in card-present fraudulent fraud.
Ursula Librizzi
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Interchange Downgrades: What They Are and How to Avoid Them
Many Merchant Account Providers charge unnecessary fees or have unfair contract terms and conditions, as reported in our unethical practices blog series. Some providers take it a step further by failing to educate business owners about how to qualify for the best transaction rates, which unfortunately results in “Interchange downgrades” that can really add up. Worse yet, some providers make so much money from these downgrades that they hide them in confusing line-item details on statements.
Ursula Librizzi
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Spotting Padded Interchange in Your Merchant Statements
Unfortunately, many Merchant Account Providers practice unethical billing and lie about the fees they charge you. Billing statements are intentionally complex to keep customers from finding hidden fees.
Ursula Librizzi
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Why We Care About Being an Ethical Credit Card Processing Company
Read enough about PayJunction’s company culture, and it’s clear we prioritize long-term relationships over short-term profit. That’s not just a nice-sounding statement, it’s what we practice every day with our customers.
Christina Lavingia
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