During the time when your business has been down due to the slow economy including your costs are rising for accepting plastic money cards? Yes, your rates Online Gaming, Casino and eSports Merchant Accounts fees you the business owner pay may be going up, way up depending on individual preference do business by way of.
One Merchant Services processor announced they were raising their rates by .27%!! What a huge increase. Even so it doesn't stop their. I've seen several other companies jump on the bandwagon and announce they have raised their rates too. The largest increase I've seen so far has been a.45%. So if you were paying 2% you will easily be paying 2.45%.
Please keep in your this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!
Time to make your Statements out!! You should have received these previously mail by at present. In the last paragraph on final page of your statement is where they usually disclose (hide) the rate increase. It % the rates are going up and/or a transaction fee ($.xx) increase. What's more, it states that merchandise in your articles continue to process with the company May 1st you've agreed to their rate increase.
It may appropriate time to shop around for a different Merchant Services Provider if your current company is raising your rates. You wil discover numbers of Merchant Services Providers out there that are not increasing their processing rates.
I'm frightened at the number of employers or those in charge of the books for companies, who don't even bother opening their statements anymore! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that salespeople quit opening them. This gives these companies a real easy way to rise rates and fees since all the alerts and communications are on the statements.
I have visited the payments processing industry as a free account executive (OK salesman, but account executive sounds better) clogs under 9 years. Amongst the things I've learned is there degree of complexity of games being played at your expense.
It is valuable to process your own cards as efficiently as possible so itrrrs possible to reduce the fees you pay. Lots of the fees you pay can be avoided if you know what to look over.