In my experience, most merchants feel that their credit card account provider is more likely to increase their rates or invent new fees rather than offer an unsolicited rate reduction.
The... Read More »
Merchants should have received their credit card processing statements for January 2017 activity. They should take the time to review three important items.
Investigate Customer Refunds
It’s not uncommon for merchants to... Read More »
September 29, 2016 • Phil Hinke
My recent series on working with credit card salespeople prompted good feedback and questions from readers. I addressed some of the questions in my August article.
For this article, I will... Read More »
Many readers gave good feedback on my recent 3-part series on partnering with credit card salespeople. I will be addressing this feedback in upcoming articles.
A few merchants sent me their provider’s email response after... Read More »
When soliciting and evaluating a request for proposal for a client’s credit card processing, I always let the client include any provider or salespeople she wants. Clients often want to... Read More »
Before you signed your current credit card processing agreement, did you tell the salesperson what you expected from him and the provider? Did you ask him what he expected from... Read More »
The pay of most salespeople in the credit-card-processing industry is 100-percent commission. Salespeople therefore presumably do not want to lose an account from an ecommerce or any other business.
Unfortunately, many... Read More »
This is the second installment of a 2-part series on common mistakes I see from merchants, when they negotiate the rates and fees of credit-card-processing providers. In “Part 1: Terminology,... Read More »
This is the first article in a 2-part series on common mistakes I see merchants make when negotiating rates and fees or analyzing the offers from different credit-card-processing providers.
Credit-card-processing Negotiating... Read More »
Did you change credit card providers or renegotiate pricing with your existing provider in the last year? If so, did you verify that you were actually receiving the rates and... Read More »
Sales over the next three months will be crucial to the profitability of many ecommerce merchants. Credit card processing costs over this timeframe will affect profitability, too. This article is... Read More »
This article is mainly for brick-and-mortar merchants, regarding the October 1, 2015 fraud-liability rule changes and misleading sales tactics surrounding the changes.
The new rules are causing a high percentage of retail merchants... Read More »
I presented a Practical Ecommerce webinar last month on lowering merchant processing costs. I’ve received several questions since then regarding my views on processing statements. Therefore, I want to address... Read More »
The fact that some credit card providers periodically sneak in cost increases to their merchants isn’t new. The providers often do this with a notice like this to their merchants:... Read More »
This is a follow-up to two topics I addressed previously on credit card processing: EMV chip cards and the American Express OptBlue program.
I described earlier this year the changes affecting EMV... Read More »
This article is mostly for brick-and-mortar retailers, as the October 2015 rule changes, which I discussed in "Part 1," are specific to card-present merchants. Read More »
This article is mainly for brick-and-mortar retailers. The upcoming October 2015 rule changes regarding EMV-enabled credit cards are specific to card-present Read More »
Business-to-business merchants often overpay for credit card processing. There are many reasons for this, but one of the main ones is they choose a merchant account provider that doesn’t have... Read More »
All ecommerce merchants should take the time to review their processing statements this month before the holiday shopping season begins. Merchants need to check for the following items, and correct... Read More »
September 22, 2014 • Phil Hinke
In “American Express OptBlue Program May Reduce Processing Cost,” my article in July, I explained how the new OptBlue program could reduce processing rates for ecommerce merchants, as it allows... Read More »
In “American Express OptBlue Program May Reduce Processing Cost,” my article last month, I explained American Express’s new program called OptBlue. This program should lower the American Express processing cost... Read More »
American Express recently came out with a new program called OptBlue, where the final processing rates and fees paid by the merchant are set by the merchant account provider, not... Read More »
I want to thank Practical Ecommerce readers for their comments on my last article series, “How to Identify Dubious Credit Card Processing Fees.” I also appreciate readers sending me suspicious... Read More »
Editor’s Note: This is “Part 3” of a three-part series. “Part 1” and “Part 2” we published previously.
The purpose of this series is to educate merchants on questionable credit... Read More »
Editor’s Note: This is “Part 2” of a three-part series. “Part 1” we published last month.
The purpose of this series is to identify dubious fees that are commonly charged... Read More »
Editor’s Note: This is “Part 1” of a three-part series.
My article last month, “Credit Card Provider Sued for Deceptive Tactics,” generated questions from merchants regarding the suit, its impact, and the hidden,... Read More »
Heartland Payment Systems, one of the largest credit card providers in the U.S., stated in a press release that it has filed a federal lawsuit against Mercury Payment Systems, also... Read More »
Last month, the U.S. District Court for the Eastern District of New York approved a settlement in a class-action lawsuit between merchants (as plaintiffs) and Visa, MasterCard and other defendants.
The case... Read More »
Editor’s Note: This is part two of a two-part series. The first installment, “Feds Eyeing Credit Card Processing Industry?,” we published last month.
In “Feds Eyeing Credit Card Processing Industry?,” part... Read More »
Editor’s Note: This is part one of a two-part series.
The U.S. Federal Trade Commission included merchant account providers in two separate lawsuits it filed against telemarketers earlier this year. The... Read More »