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Unfortunately, unethical Merchant Account Providers are constantly conjuring up new ways to hide fees and make more money off their customers. Part 5 of this series covered one way providers can be deceptive when your business runs returns. In part 12, we will further explore unethical issues related to refunds.READ MORE
Just a little over a year since the liability shift, and there’s a new fee to be had. We know what you’re thinking … ‘how could the payment industry possibly think up another fee?’ Well, some providers are now charging a compliance fee if your business fails to upgrade to an EMV-ready terminal.READ MORE
To get a traditional merchant account, your business must go through an extensive review process called merchant underwriting. Unfortunately some Merchant Account Providers don’t effectively underwrite businesses, which can lead to issues down the line.READ MORE
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.READ MORE
Unfortunately, unethical billing is more common than we’d like to believe. Some Merchant Account Providers will squeeze terms and fees into their merchant contracts that only harm the businesses they claim to serve. Due to the nature of these terms, most business owners don’t realize they’re unfairly locked into a contract until they’re looking to exit their merchant credit card processing agreement.READ MORE
If your business is on Interchange pricing, you may think you have the most transparent rate plan. This is a fair assumption, so long as you’re being charged true Interchange.READ MORE