Non-Qualified Merchant Account Rates (MDRs) As the world of merchant processing continues to evolve, complexities are introduced everyday into the way a merchant is charged for processing a credit card transaction. As the industry is becoming more and more competitive, Acquirers and Independent Sales Organizations (ISO’s) are becoming more and more creative in the way [...]
5 Dirty Little Secrets About Merchant Account Services (ISO’s) From a Guy Who Has Worked At A Half Dozen Merchant Account Companies
First, the good news: They are not all crooked, in fact a good portion of ISO’s are honest hard working men and women who have no intention of squeezing every penny out of you. Unfortunately, those that want to help you are outnumbered by those who are less than honest. What you are about to [...]
Canadian Credit Card Processing Wars
Tim Wilson at the NationalPost wrote yesterday an interesting piece on Canada’s Credit Card Wars over regulating interchange and allowing Visa to introduce debit cards in Canada. Tim states, “While we respect businesses’ desire to manage their expenses, government intervention is not the right solution in a functioning industry.” I know many Merchants who would [...]
A Great Merchant Account Q & A
I was answering a merchant’s question(s) today and realized that a lot of what these two individuals were asking would relate to a lot of other Merchants so, I asked if I could add their questions to my blog and they (very kindly) agreed. I did however change their names to ‘John’ & ‘Jane’ and [...]
Did Your Merchant Account Provider Send You This Letter?
It is almost April 1st 2009 which means most providers will be adjusting their (MDR’s) Merchant Discount Rates in Canada because Visa adjusts their interchange rates. Look through your statements over the last 2 months and see if you received anything like you saw in the video above. If you did, this is a good [...]
The Critical Canadian Merchant Services Guide – Part 8
Three Insider Money Saving Tips for Merchant Accounts Tip number one: If you run a business where you need to take a deposit (like a motel) or pre-authorization (as in a car rental biz) over the phone, then do the pre-authorization, but don’t close it out as a pre-auth because you will then be charged [...]
