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Digg it UP - 17 Essential Questions You Must Have Answered Before Selecting A Payment Processing Provider
A culvert pipe is a cutting under or beside a road that allows water to drain, rather than pooling and creating hazardous conditions. Technically, only an enclosed channel under a road could be further classified as a culvert, and a cutting next to a road is recognized as a ditch. Culverts Pipes are a very important part of the system used to drain roads and drives, keeping them secure and extending their lifetimes.Ideally, a culvert installation is done when a road is built, either by the home highway authority or a property owner, only in case if the culvert is on private land. Generally, if a section of a road lies in a dejected area of ground or an area subject to flooding, a culvert need to be installed to facilitate drainage problems, especially in the winter. The culvert pipes are laid into the road bed as it is being built, and is kept apparent by maintenance crews during everyday checks of the roadway throughout the year.Generally culverts serve two chief functions. The first is that a culvert permits water to drain under the road, rather than pooling it on top, making the surface secure for drivers. Po
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card
Those of us who are highly creative and artistic employees know how we can be looked at differently by those who operate from the other side of the brain in the corporate world. It can be hard to fit in to conservative work environments at times for those of us who are free-thinking and artistically expressive. The creative mind is cut from a very different cloth than many. Speaking for myself, it takes adapting a free-spirited and detail oriented mind to a different world - where logic, analytical minds and strict rules usually apply.Sitting behind a desk for forty hours is a hard thing to doBefore becoming a home agent for my company, I spent a year in-house, sitting in a cubicle and obeying strict rules. It was, as usual, a bit torturous to have to take breaks at assigned times, and be under the constant scrutiny of bosses. Having worked as a freelance artist most of my adult life, it was important for me to put aside my usual carefree lifestyle and adapt to being corporate. My superiors had some adjusting to get used to me, as well. Eventually, getting up at the crack of dawn and going into work, then stayin
- Every Payment Processing Provider will have this fee. Discount rates can vary on from as low as 1.59% right up to as high as 5.0%. The Discount Rate is really not a discount. It is a % of your sales that the Credit Card Companies charges the Business Owner to be able to offer their customers to pay with their Credit Card. (Example: If you did $10,000 in Visa sales in one month and your Discount rate was 2.5% then you would pay $250 in fees to Visa that month.)
- Rates vary and are dependent on your Business Model, Business Volume, Average Sale per Customer, Type of Product & Service your business offers, the way you process payments for your products & services: online, telephone, mail-order, or in-store all affect the Discount Rate your business will qualify for.
- Usually High-Risk Business will have higher rates. Businesses that have higher ticket prices, Businesses that process payments via: E-commerce, Telephone (IVR), & Mail-order usually fall under the High-Risk Umbrella.
2. Are ‘keyed in’ Visa, MasterCard & Amex Discount Rates at a different rate then swiped?
- Most Payment Processing Providers will have a different Discount Rate for transactions that are keyed in on POS Terminal instead of being swiped across the POS Terminal. However, there are some exceptions for some businesses that have reoccurring billing.
3. What are the Transaction Rates?
- Transactions fees are sometime called IDP Transactions. Every Payment Processing Company has at least a Transaction fee for Debit and usually for Credit Card Transactions too. It is become more common that any Transaction that is made on your POS Terminal will be considered a Transaction and a fee will apply, whether is it is a void, debit, credit card, refund, batch close, etc.
- Transaction fees can range from 0.05 cents up to 0.50 cents and can be different for each type of transaction, although typical POS Terminal Transactions fees are between 0.08 cents to 0.15 cents. IVR, PC, & E-commerce Transactions fees are usually much higher ranging from 0.35 cents to 0.50 cents.
4. What is the monthly cost for the Point-of-Sale Terminal?
- Most Bank Payment Processing Companies offer: only Rental Program for POS Terminals. Rental costs can range from $20 right up to as high as $100 a month dependent on the type of POS Terminal your business requires.
- Private Label Payment Processing Companies usually only offer: Lease-to-own or Buy-out Options on their POS Terminals. Lease-to-own usually run on 48 month leases with a 10% buy-out option at the end. Lease-to-own POS Terminal prices range from $30 - $80 dependent on type of POS Terminal. Buy-out POS Terminal prices, typically run from $999 - $1800 dependent on type of POS Terminals.
- *** Two very important questions to ask before buying a POS Terminal: A) What are the warranty conditions? B) Is the POS Terminal Smart-Card Ready?
- PROS & CONS of Renting Vs. Owning:
PROS: When renting a POS Terminal if you require a new POS Terminal is usually will be fixed or replaced at no cost to you.
CONS: Rental only: You pay rent forever. If you have been renting a POS Terminal for $40 a month for 5 years, then you just paid $2400. If you have been renting a POS Terminal for 10 years at $40/month then you just spent $4800 & no asset in your business. When you can own a Basic POS Terminal for as little as, $1000 and now have another Asset in your Business.
SIDENOTE: Most Private Label Companies will offer some type of life-time warranty, sometimes at no extra cost, sometimes for an additional fee. However, it always comes back to the question of whether it is better to Own or whether it is better to Rent…? – I will let you decide!
5. What are the Set-up Costs?
- Every Payment Processing Company will have set-up fees, some more then others. Set-up fees can range from $50 - $300. Usually the set-up fees are one-time only set-up fees for Visa, MasterCard, Amex, & Debit Cards – usually around $25 per card. Some Companies also charge an initial set-up fee for programming POS Terminals or a fee for Initial Training. Set-up Fees can greatly vary from Company to Company.
6. Are there any application fees?
- Not all Payment Processing Companies have an Application fee, however, some Companies do. This is usually a non-refundable fee, whether you are approved or not. Applications fees can vary from non-existent to $300.
7. Is there a Statement Fee?
- Not all Payment Processing Companies have a Statement Fee, however, some do. The average Statement Fee is usually around $5 or free if you are willing to receive your statement coming to you via E-mail. I am not sure if this is a nickel and dime fee or if it is Companies trying to go green…? I let you decide!
8. Is there a Settlement Fee?
- All Payment Processing Companies have a Settlement Fee. Settlement fees can range from 0.05 cents – 5 dollars.
9. Is there any Minimum Processing Fees?
- All Payment Processing Companies have Minimum Processing Fees, ranging from $5 - $25. Often there are Minimum Processing Fees for each type of card you intend to have processed. Basically, what this means is if you do not do enough business to have high enough fees you will still pay a minimum every month.
- For example: Let’s say your Discount rate 1.85% on Visa and your do a $1000 worth of sales on Visa that month and your minimum processing fee is $10. Well, 1.85% X 1000 = $18.50 in fees that month on Visa. Therefore, you have cleared your minimum of $10 and you have nothing to worry about. Now if you take the same rate and minimum, but you only made sales $250 that month on Visa. Well, 1.85% X 250 = $4.62 in fees that month on Visa. Therefore, you did not make you minimum and would be required to make the difference up of $5.38.
10. Is there a Gateway Fee?
- Most Payment Processing Companies usually have a Gateway Fee, but usually only for IP POS Terminals, PC, & E-commerce Payment Solutions. Gateway Fees can range from $5 to $45 a month.
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card
We've all had them, those poorly illustrated guides to putting a retail product together or instructions on how to use a new piece of electronic equipment. What gives? For those of us who are mechanically challenged, this can be really frustrating. The world of electronics holds a special frustration for many, such as setting up a piece of computer equipment, for example. Once learned, they are usually not that bad, but it just takes getting used to.My new printer came today. Once again, I dropped everything to figure out how to set it up. What a job. Programming things is definitely not my strongpoint. It is good there's nobody watching when I'm working on these projects, as I get really annoyed with lousy directions, programs that don't load right (and have to be re-installed), along with other inevitable mishaps that come with buying new electronics. Programming my vcr is a nightmare, and setting up an all-in-one fax/printer/scanner isn't too far behind in my list of things that make me mental.Now, the printer is set up, and working fine. Phew. I always go through the phase of blaming it for things going wron
- Transaction fees can range from 0.05 cents up to 0.50 cents and can be different for each type of transaction, although typical POS Terminal Transactions fees are between 0.08 cents to 0.15 cents. IVR, PC, & E-commerce Transactions fees are usually much higher ranging from 0.35 cents to 0.50 cents.
4. What is the monthly cost for the Point-of-Sale Terminal?
- Most Bank Payment Processing Companies offer: only Rental Program for POS Terminals. Rental costs can range from $20 right up to as high as $100 a month dependent on the type of POS Terminal your business requires.
- Private Label Payment Processing Companies usually only offer: Lease-to-own or Buy-out Options on their POS Terminals. Lease-to-own usually run on 48 month leases with a 10% buy-out option at the end. Lease-to-own POS Terminal prices range from $30 - $80 dependent on type of POS Terminal. Buy-out POS Terminal prices, typically run from $999 - $1800 dependent on type of POS Terminals.
- *** Two very important questions to ask before buying a POS Terminal: A) What are the warranty conditions? B) Is the POS Terminal Smart-Card Ready?
- PROS & CONS of Renting Vs. Owning:
PROS: When renting a POS Terminal if you require a new POS Terminal is usually will be fixed or replaced at no cost to you.
CONS: Rental only: You pay rent forever. If you have been renting a POS Terminal for $40 a month for 5 years, then you just paid $2400. If you have been renting a POS Terminal for 10 years at $40/month then you just spent $4800 & no asset in your business. When you can own a Basic POS Terminal for as little as, $1000 and now have another Asset in your Business.
SIDENOTE: Most Private Label Companies will offer some type of life-time warranty, sometimes at no extra cost, sometimes for an additional fee. However, it always comes back to the question of whether it is better to Own or whether it is better to Rent…? – I will let you decide!
5. What are the Set-up Costs?
- Every Payment Processing Company will have set-up fees, some more then others. Set-up fees can range from $50 - $300. Usually the set-up fees are one-time only set-up fees for Visa, MasterCard, Amex, & Debit Cards – usually around $25 per card. Some Companies also charge an initial set-up fee for programming POS Terminals or a fee for Initial Training. Set-up Fees can greatly vary from Company to Company.
6. Are there any application fees?
- Not all Payment Processing Companies have an Application fee, however, some Companies do. This is usually a non-refundable fee, whether you are approved or not. Applications fees can vary from non-existent to $300.
7. Is there a Statement Fee?
- Not all Payment Processing Companies have a Statement Fee, however, some do. The average Statement Fee is usually around $5 or free if you are willing to receive your statement coming to you via E-mail. I am not sure if this is a nickel and dime fee or if it is Companies trying to go green…? I let you decide!
8. Is there a Settlement Fee?
- All Payment Processing Companies have a Settlement Fee. Settlement fees can range from 0.05 cents – 5 dollars.
9. Is there any Minimum Processing Fees?
- All Payment Processing Companies have Minimum Processing Fees, ranging from $5 - $25. Often there are Minimum Processing Fees for each type of card you intend to have processed. Basically, what this means is if you do not do enough business to have high enough fees you will still pay a minimum every month.
- For example: Let’s say your Discount rate 1.85% on Visa and your do a $1000 worth of sales on Visa that month and your minimum processing fee is $10. Well, 1.85% X 1000 = $18.50 in fees that month on Visa. Therefore, you have cleared your minimum of $10 and you have nothing to worry about. Now if you take the same rate and minimum, but you only made sales $250 that month on Visa. Well, 1.85% X 250 = $4.62 in fees that month on Visa. Therefore, you did not make you minimum and would be required to make the difference up of $5.38.
10. Is there a Gateway Fee?
- Most Payment Processing Companies usually have a Gateway Fee, but usually only for IP POS Terminals, PC, & E-commerce Payment Solutions. Gateway Fees can range from $5 to $45 a month.
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card
Entrepreneurs work harder than most Americans. They spend countless hours and enormous amounts of energy trying to reach business and financial goals that are often elusive. They seem to be doing all the right things: attending seminars, scouring the latest business books, networking, guerilla marketing, hoping, and praying.We all know of business owners who go through the same motions yet they are far more successful and don't work nearly as hard. And, they seem to have more fun. Surely you've seen situations where two people are in the same business, sometimes within a block from each other. The owner of the first business can be successful beyond measure. The other business can be close to bankruptcy.What is the difference? The difference is that the first business owner is allowing their natural brilliance to run the business. That natural brilliance is the Law of Attraction. We are all far greater than we think and we have truly amazing potential that most people are not even aware of. The real key to success in life and in business is accessing your "miracle mind" and unleashing your capacity for abundance
CONS: Rental only: You pay rent forever. If you have been renting a POS Terminal for $40 a month for 5 years, then you just paid $2400. If you have been renting a POS Terminal for 10 years at $40/month then you just spent $4800 & no asset in your business. When you can own a Basic POS Terminal for as little as, $1000 and now have another Asset in your Business. SIDENOTE: Most Private Label Companies will offer some type of life-time warranty, sometimes at no extra cost, sometimes for an additional fee. However, it always comes back to the question of whether it is better to Own or whether it is better to Rent…? – I will let you decide!
5. What are the Set-up Costs?
- Every Payment Processing Company will have set-up fees, some more then others. Set-up fees can range from $50 - $300. Usually the set-up fees are one-time only set-up fees for Visa, MasterCard, Amex, & Debit Cards – usually around $25 per card. Some Companies also charge an initial set-up fee for programming POS Terminals or a fee for Initial Training. Set-up Fees can greatly vary from Company to Company.
6. Are there any application fees?
- Not all Payment Processing Companies have an Application fee, however, some Companies do. This is usually a non-refundable fee, whether you are approved or not. Applications fees can vary from non-existent to $300.
7. Is there a Statement Fee?
- Not all Payment Processing Companies have a Statement Fee, however, some do. The average Statement Fee is usually around $5 or free if you are willing to receive your statement coming to you via E-mail. I am not sure if this is a nickel and dime fee or if it is Companies trying to go green…? I let you decide!
8. Is there a Settlement Fee?
- All Payment Processing Companies have a Settlement Fee. Settlement fees can range from 0.05 cents – 5 dollars.
9. Is there any Minimum Processing Fees?
- All Payment Processing Companies have Minimum Processing Fees, ranging from $5 - $25. Often there are Minimum Processing Fees for each type of card you intend to have processed. Basically, what this means is if you do not do enough business to have high enough fees you will still pay a minimum every month.
- For example: Let’s say your Discount rate 1.85% on Visa and your do a $1000 worth of sales on Visa that month and your minimum processing fee is $10. Well, 1.85% X 1000 = $18.50 in fees that month on Visa. Therefore, you have cleared your minimum of $10 and you have nothing to worry about. Now if you take the same rate and minimum, but you only made sales $250 that month on Visa. Well, 1.85% X 250 = $4.62 in fees that month on Visa. Therefore, you did not make you minimum and would be required to make the difference up of $5.38.
10. Is there a Gateway Fee?
- Most Payment Processing Companies usually have a Gateway Fee, but usually only for IP POS Terminals, PC, & E-commerce Payment Solutions. Gateway Fees can range from $5 to $45 a month.
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card
With almost daily news reports of companies laying off workers, or filing for bankruptcy, or going out of business altogether, losing your job suddenly doesn't sound all that unlikely. Here are some strategies either to avoid being laid-off, or to cushion the blow if it comes.1. Keep your resume current. If you haven't looked at your resume in over a year, drag it out and review it. Make sure you've included your latest work accomplishments and that it adequately represents who you are. Whether or not you are looking for a new job, you should update your resume every time you get an award, finish a big project, or get a promotion.2. Stay up to date on the latest news about your company and in your field. Read the business sections in the newspaper. Look at trade journals. Read your company's annual report. Pay particular attention to stories that might indicate the market for widgets (or whatever your company does) is going south.3. Get to know people in different departments in your company. The sales and service staffs always know before anyone else how the company is doing. Learn to read the handwritin
8. Is there a Settlement Fee?
- All Payment Processing Companies have a Settlement Fee. Settlement fees can range from 0.05 cents – 5 dollars.
9. Is there any Minimum Processing Fees?
- All Payment Processing Companies have Minimum Processing Fees, ranging from $5 - $25. Often there are Minimum Processing Fees for each type of card you intend to have processed. Basically, what this means is if you do not do enough business to have high enough fees you will still pay a minimum every month.
- For example: Let’s say your Discount rate 1.85% on Visa and your do a $1000 worth of sales on Visa that month and your minimum processing fee is $10. Well, 1.85% X 1000 = $18.50 in fees that month on Visa. Therefore, you have cleared your minimum of $10 and you have nothing to worry about. Now if you take the same rate and minimum, but you only made sales $250 that month on Visa. Well, 1.85% X 250 = $4.62 in fees that month on Visa. Therefore, you did not make you minimum and would be required to make the difference up of $5.38.
10. Is there a Gateway Fee?
- Most Payment Processing Companies usually have a Gateway Fee, but usually only for IP POS Terminals, PC, & E-commerce Payment Solutions. Gateway Fees can range from $5 to $45 a month.
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card
A clever title is great if it is clear, but a clear title is always preferable. The best? A clear and clever title. A shorter title is better than a longer one. Your reader will spend only four-eight seconds on the cover. While some long titles have succeeded, usually the shorter, the better.A title is part of your book's front cover. Busy buyers including bookstore buyers, wholesalers, distributors and your audiences buy mainly because of the cover. Dan Poynter, author of Writing Nonfiction, says, "The package outside sells the product inside." Make your cover sizzle.Start with a working title before you write your chapters. Include your topic, your subject and use the book's benefits in your sub title if possible. Here's your ten tips for titles that sell:1. Create impact for your title-check out magizine print and radio ad headlines.Check out other authors' titles on the bookstore shelves. Your title must compel the reader to buy now. Which title grabs you? Elder Rage or Caregiving for Dad?2. Include your solution in your title.Does your title sell your solution? Make sure it answe
11. Is there a Monthly Maintenance Fee?
- Some Payment Processing Companies have a Monthly Maintenance Fee others do not. If they have it, it is usually a Fee that is with IVR, PC, & E-commerce Solutions, however some Companies have it on POS Terminals solutions too.
12. Is there an Added Value Fee?
- Some Payment Processing Companies have a Monthly Added Value Fee and some do not. This Fee usually ranges from $5 - $10 a month.
13. Is there a Low Achievers Fee?
- Most Payment Processing Companies have a Monthly Low Achiever Fee. Low Achiever Fees can range from $5 - $20. This is why it is important to get your monthly/annual estimate of total business volume correct on your Visa, MasterCard, & American Express Applications. Most Merchant Account Providers have 25%-35% error lenience. If you are not sure it is always better to under estimate your monthly/annual sale amounts when applying for Credit Card Merchant Accounts.
14. Is there a Chargeback Fee?
- Most Payment Processing Companies have a Chargeback Fee. Chargeback Fees can range from $10 - $50. A Chargeback is when a Card Holder holds a dispute on a Visa or MasterCard or Amex Transaction that came from your business. If the Card Holder wins the dispute, they will be refunded their money and you will be charged a chargeback fee – it’s a similar fee to bouncing a cheque. - It is always the Merchant burden of proof to prove that the Card Holder had used or bought the product or services from your business. This is why is so important to check that on Credit Card Purchases that the signature matches the back of the Card Holders Credit Card and if it does not to ask for Photo ID.
15. What are the Technical Support Service Hours?
- Most Payment Processing Companies have a Help Desk/Technical Support. However, not all are 24/7. Some are better then others. The best thing to do is to get the Help Desk # and give it a call a few times through out a day to see what kind of service you would get.
16. How soon can you have a new POS Terminal in my Business if my POS Terminal is not working & can’t be fixed via the phone?
- Payment Processing Companies can vary on this. Some can have one to you within 24 hours others can take 2 – 4 weeks before they have a new POS Terminal to you. The question you have to ask yourself is how long can your business run without one in your business?
17. How long does it take to initially get set-up with full services?
- Most Payment Processing Companies usually take at least 2 weeks (sometimes as long as 4-6 weeks) to have your application processed, merchant accounts set-up, POS Terminal programmed and shipped to your business ready to use. However, there are a few Payment Processing Companies that can have one ready in your business in as little as five business days.
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