Have you noticed your credit card charges rising monthly? Most statements are hard to read and are meant to keep you in the dark.

Each credit card used for payments has a certain wholesale cost that is paid to MasterCard, Visa, Discover, and American Express. Every credit card processor has to pay these mandated fees. The wholesale cost goes to the issuing bank. The cost difference is what the credit card company puts on top of wholesale.

Use Wholesale (Interchange Plus Pricing Model)

Check out your statement. If you see the words surcharge (Surcharge Pricing) or non-qualified (Tiered pricing), you could be overpaying.

Eliminate the Middlemen

Did you know there are only 10 Tier-One Processors in the World? Why does your office get so many phone calls? Middlemen are re-selling services for the other nine processors! These middlemen typically hire contractors to resell their services without a background check. The middlemen are independent sales offices, sub-independent sales offices, as well as your bank.

A Piedmont, NC Specialist used his bank to get a great rate on his practice loan and was highly encouraged to use their credit card processing. Within four years, he leased his $200.00 credit terminal and had paid $4800 for it; plus, overpaying $297.00 monthly in charges. Never lease a credit card machine!

Common Hidden Fees (Middlemen) include:

  • Annual fees
  • Non-qualified downgrades
  • Padded wholesale fees
  • PCI fees
  • Terminal fees- Never lease a credit card terminal
  • Payment Gateway fees
  • Online reporting fees
  • Batch fees
  • Watch for EIRF

The Bottom Line:

  • Ask for reduction yearly and statement review.
  • When shopping for credit card processing: please use this questionnaire. If the company will not complete this and sign it: RUN!

Renee’ Shuping Cassidy
B2B Specialist, Heartland Payment Systems

Heartland Payment Systems is a Tier-One Processor who eliminates the middleman to make a difference on your bottom line! We are a technology company with the latest platform that digs to find the lowest wholesale rate. We offer next day funding, reduced American Express rates, full breech warranty, 24/7 customer service with a live person, interchange plus pricing and a three-year price lock! We also offer websites payments (ecommerce), as well as recurring billing options.

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