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Credit Card Processing

Learn about credit card processing and save money on your processing.

3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Which currency can get to the bottom the fastest?   It looks like Japan's Yen is yenning or yearning for this distinction.  Wasn't long ago when Japanese cars and electronics dominated the world market?  Now, its Apple and the Koreans are coming on strong.  Of course, Bernanke is doing his best to inflate the US currency.  Maybe he stabilized the economy.  I don't think so.  GDP growth in the US has been sluggish at 2.2%.  This is bad news because we've been printing so much money.  Typically, you get a boom, and then spiraling inflation.  The ...


3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Keep your clients happy to maximize your profits - kind of obvious don't you think.  The author offers insights.  Customers are fickle, capricious.  they are constantly being bombarded.  It is not always easy to keep them happy.  Communication is one key.

The new trend in advertising is taking on your competitors.  Direct aim is the key.  No hold bars.  Show your audience what a bunch of fat, slimy slobs your competition is.   

What converts better: a free trial or a 30 day guarantee?   I've always wondered about this.  I think a free 30 day trial. That's the best ...


3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Gold price is dropping - Time to Buy

The Supreme Court Rulings in your favor Harder for employees to sue for workplace discrimination

26 Tactic to build an effective social media strategy - yes, you need social media. 


3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Q1 GDP numbers are artificially inflated.   

The government inflates GDP and deflates unemployment.  They must have hired former Soviet Bloc economists.  Most people just don't believe the numbers coming out of D.C.  Small Business owners are shaking their heads around the country because they aren't seeing the sales traffic and they are certainly aren't doing the hiring.  

http://www.businessinsider.com/ubs-predicts-major-q1-gdp-revision-2013-6

Capital acquisition, the fancy term for getting funding is hard these days.  Why not tap into your future retirement funds?  If your business takes off, well, you don't need to worry.  If not ...


Durbin: Let’s Nationalize Card Processing Under the "FRAC" Act

Durbin: Let’s Nationalize Card Processing Under the "FRAC" Act

Senator Dick Durbin is at the forefront of the crackdown on the outrageous credit card processing rates.  He is proposing new legislation to curb the rising cost of credit card processing.  Durbin’s chief of staff said, “Everyday our office gets countless complaints from small merchants about their high rates.  They demand something be done.  Durbin apparently has solution.   We’ll just nationalize card processing under the FRAC Act.” 

Apparently,  the Durbin Amendment was not enough.    What would a full scale nationalization of the credit card processing industry look like?   “We’re looking at a 1% fee to cover the ...


Three simple tricks to lower your credit card processing rates

This is Dana Barrett with Blindbid.com, where we help small merchants get a better deal.  As part of our small business prosperity series, I’m going to discuss 3 tricks to lower your credit card processing rates.

The first trick is to change your pricing plan to interchange plus or pass thru pricing.  Interchange plus is the most transparent and lowest cost plan available.  All the Fortune 500 companies are on interchange plus. 

However, most processors resist putting small business merchants on interchange plus pricing because the profit margins are so slim.   If your processor refuses, switch to one ...


How Does the Durbin Amendment Affect my Small Business? Part 2

Part 2

In the initial part, I discussed what the Durbin Amendment is and how it affects your organization. In this segment, I will go over why merchants aren’t saving beneath Durbin and what action it is possible to take to ensure your small business realizes the Durbin savings.

Why aren’t merchants receiving the Durbin Amendment savings? The very simple answer is the fact that it is truly up to your processor to pass along those savings. If they have not passed those saving along to you, then they've kept them for themselves. That is what we ...

How Does the Durbin Amendment Affect my Small Business?

Part One

What exactly is the Durbin Amendment? Senator Richard Durbin from Illinois introduced the amendment in to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed by Congress in 2010. The amendment gave the federal government the power to set interchange rates for debit card transactions. The amendment went into effect in October of 2011 and considerably lowered the debit interchange rates by almost 95%. 
You could possibly be thinking, my organization does not take debit cards. I do not have a pin pad or give cash back. The truth is that more than 50% of ...

Best Practice Guide to Closing Leads

Your company can increase its sales significantly by simply implementing a lead generation strategy outlined in this guide.  Independent research shows that 99 percent of sales reps will abandon a lead if they fail after three attempts to get the sales negotiations going.   Additional research shows that this is way too early give up on these leads which leave good sales and money on the table.

Our company did an audit of 50 leads sold to one of our vendors.  The results showed that after three months, only five of the leads had been sold.   Eight merchants responded that they ...


Credit Card Processing Checklist: Part 2

Processing Checklist

1.     If your processor raises your rates during the contract term, this action nullifies the early termination penalty for 30 days in most cases.  Please check with your processor first.

2.     Make sure your account is settling properly.  Check your device with your bank.

3.     Check your statements each month to make sure you being charged what you were expecting. Again, understand what downgrade charges are before you complain about your bill.

4.     Keep your credit card terminal is a safe place away from liquid and heat as best as possible.

5.     Check your customer's IDs and ...


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