A contract does not equate to a cancellation fee and having a contract term end is not really a good thing.
All merchant accounts have a contract and a term; some merchant account contracts have an early termination fee.
Author: Ben Dwyer
Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
What is a Good Interchange Plus Rate?
Getting a low interchange plus rate is important, but the rate is just a drop in the bucket.
Asking the question “what is a good interchange plus rate?” is like asking the question “how much does a car cost?” Neither question can be answered accurately without first knowing several supporting details.
Sam’s Club Merchant Account Services – Buyer Beware!
Not too long ago, CardFellow posted an evaluation of Costco merchant accounts that found Costco’s service to be very disappointing. Undeterred, I decided to take a look at the merchant services offered by Sam’s Club to see if Costco’s big-box competitor fares any better. As it turns out, Sam’s Club Merchant Services uses the same […]
Sam’s Club Merchant Services isn’t the best choice for businesses that want competitive credit card processing services.
Visa International Acquirer Fee
Despite how it sounds, you may incur the international acquirer fee even if you don’t think you take international payments. That’s because the fee applies to transactions in the United States made with cards issued outside of the United States. If a foreign customer uses their card at your business, the fee will apply. Visa […]
Visa’s International Acquirer Fee is one of several assessment fees that apply to Visa transactions. It often applies in conjunction with the International Service Assessment (ISA) Fee.
Visa Base II Fee or Settlement Network Access Fee
Visa charges a number of different fees, called assessment fees. Every time you accept a Visa card, assessments apply. The Base II fee, or settlement network access fee, is one of those assessment fees. As of 2018, Visa sets the Base II fee at $0.0025. What is Visa Base I and Base II? The Network […]
Visa charges a fee for settlement requests. It’s called a settlement network access fee or a Base II fee.
101 Credit Card Processing Tips
101 credit card processing tips may seem like a lot, but the more you know the better equipped you will be to avoid pitfalls. The benefits of CardFellow also become more apparent as you learn how credit card processing *really* works.
The tip of tips: If you *think* you are paying too much for credit card processing — you are! Read on for additional credit card processing tips to help your business.
Visa International Service Assessment (ISA)
The International Service Assessment (ISA) fee only applies in situations where a US-based business accepts a Visa card issued by a non-US Bank. If you take card payments from foreign visitors in person or accept foreign transactions online, you may see the ISA fee as part of your processing costs. Visa’s Assessment Fees The International […]
In April 2008, Visa implemented an international service assessment (ISA) fee of 0.80% (eighty basis points). In April of 2019 Visa increased the base ISA fee to 1.00%. The fee applies along with other Visa fees for international transactions.
Credit Card Processing Bait and Switch
Knowing how to spot bait-and-switch pricing will save time and money.
Some credit card processors play the old bait-and-switch game of advertising rates that seem too good to be true.
