Day: July 1, 2020

Top Tricks Used by Credit Card Processors

Once you start processing cards you might start to realize that this is not the most honest industry.  There are several questions that arise during this process “ Why only a few providers show rates on the website? “Why there are several rate structures? “ etc.

Here are some tips to help merchants avoid the pitfalls of the credit card processing industry. This will help you understand the tricks used by the payment processing industry in a better manner.

 

  • Teaser Qualified/ Non-Qualified rates:

 

You might have noticed several payment processors advertising “as low as” 1.00%. There are no advertising standers for the payment processing industry and thus few processors hide the entire fee structure. They won’t disclose assessment fees, mid-qualified and non-qualified charges tacked on top which is easily ignored by the merchant.

An example of this is flight sale for 49$ and did you end up paying … Read More