Some recommended money saving tips for credit card processing


Yes probably, you think that you know everything about credit card processing. You probably thought that you did a very good research on selecting a company or a bank that can process credit card for your business and as long as you are getting paid in a timely manner. I agree. Probably everything is okay.
But my intention is to write this article is to aware you with four amazing money saving techniques that can save your money and send more money to your bottom line profit and pocket rather than being spent on administrative fee to run your business.
  1. If you are using banks then you chose worst choice for credit card processing. Banks never process credit cards. They outsource it to companies like salequick to do it for them. The banks then added their fees to ours and pass it to the customers. This ends up costing you more. If I say clearly no one charges more to process credit cards than banks. If you think banks are the best option to process credit cards, it isn’t.  When unbounded the package it is much higher
  2.  The processor’s markup over interchange and assessment rates are negotiable. These rates are set by card issuers like Visa. The interchange and assessment rates are same credit card processors. We have to collect and pay these fees to Visa, MasterCard or others and neither Salequick nor any other payment card processor can change or negotiate these rates
  3.  If you fail to use AVS (Address Verification system) will definitely cost you more money. Card issuers such as Visa, MasterCard and Discover require a customer billing address to enter for all transactions where the card is not present. If you are not using it, surely you are penalized with a higher fee for increasing fraud risk. 
  4.  Processing fees are tax deductible. As you prepare your tax return for 2019, make sure to take your processing statement to your accountant and tax preparer or you include the fees.
Related Posts: 




Comments

Post a Comment

Popular posts from this blog

How to choose a credit Card Processor for Automotive Shops: Salequick

Best Credit Card Processing for Automotive Shops : Salequick