It’s a common situation – you’re considering a new credit card processor, maybe browsing a website or talking to a salesperson, when you’re offered a savings analysis. Perhaps you get a cold email from a processing rep. The website text or salesperson says that it’s free and will show you how much you can save […]
Comparing credit card processors? Be careful with savings analyses.
In this article, we’ll clear up these credit card processing misconceptions to help you avoid common pitfalls and misleading sales spin. Flat Rate Pricing is the Cheapest Interchange Plus Pricing Protects You from Being Ripped Off You’ll Get the Best Pricing by Cutting Out “Middlemen” You Can’t Get Lower Pricing Unless You’re a Big Business […]
There are several common misconceptions in credit card processing and sales reps can use those to trick you into overpaying.
1. You Have Non-Qualified Rates 2. You’re Using Square or PayPal 3. You Chose a Processor from a Top Ten Processors Type of List I think I’m overpaying. How do I pay less for credit card processing? 1. You have Non-Qualified Rates Check your statements. Do you see the word “non-qualified” or any variation? (NQUAL, […]
Credit card processing is a confusing and frustrating part of business. Have you ever looked at your billing statement and thought you’re paying too much for credit card processing but couldn’t be sure? Or maybe a pushy sales person stops by and promises to save you tons of money, and you’re wondering if you’re really overpaying. Here are 3 quick ways to determine if you’re paying too much and how to lower your costs to take credit cards.
Disreputable processors range from deceptive to outright scam, and it’s important to know what you’re getting into when you’re choosing a credit card processing company. Take a look at what this business owner was told about hidden fees, cancellation fees, equipment, and more to learn what to watch out for so you can avoid making […]
Recently, we received a comment here on our blog that perfectly illustrated some of the deception, half-truths, and spin that many credit card processing sales reps use to pressure and mislead businesses.
The company’s culture is defined by a well-documented history of rampant scams, fraud, lawsuits, and even being sued in federal court for racketeering. Here’s a piece of advice if you’re thinking of leasing a credit card machine from Northern Leasing – don’t. Update: Subsequent to the June 2020 proceeding, the Office of the Attorney General […]
Northern Leasing Systems is garbage. It defies logic that a company with a reputation as horrendous as Northern Leasing is still in business. It shouldn’t be.
Okay, the offer doesn’t usually include a unicorn, but it might as well for all the good it does you if you’re trying to secure competitive pricing. Credit card processors that offer cash if they can’t “beat” or match your current processing rates will use a variety of tactics to get your business, and manipulate […]
If you accept credit cards at your business and have spent any time researching processors, you’ve probably come across sales gimmicks offering cash if the processor can’t beat your current rates. You know the one: “If we can’t lower your rates, we’ll give you $500 and a free unicorn!”
Charts are easily manipulated, leaving you to try comparing apples and oranges. Even if the creator of the chart doesn’t intend to mislead, a lack of complete information can be just as detrimental to finding the right solution. When you’re looking for the best credit card processor, the key is to find the right one […]
I’m often asked why this site doesn’t have a lengthy merchant account comparison chart. The answer is simple – these intricate comparison charts are useless.
Interchange plus pricing does not guarantee competitive credit card processing fees. It’s just as easy for a processor to overcharge a business using interchange plus pricing as it is with other pricing models, such as tiered.
As more information becomes available about credit card processing and more people with superficial knowledge write about the topic, interchange plus is often touted as the be-all end-all to opaque billing and high credit card processing charges. This is a dangerously expensive misconception.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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