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Visa, Mastercard Prepare to Raise Credit-Card Fees

Credit card processing costs are set to increase yet AGAIN. If you are not a credit card industry expert, it is almost impossible to protect your business against the rising cost of accepting credit cards. There are ways to protect your bottom line against these increases, but trying to negotiate these fees yourself is like representing yourself in court. Many business owners believe the only way to combat these increases is to bid out their credit card processing to several companies and let the competitive process “guarantee” the lowest price. This is the wrong way to approach this issue, as it almost always requires an expensive and inconvenient switching of processors, and most of the time, quotes from competing processors are impossible to accurately compare due to different pricing structures, contract terms, etc. Passing these costs on to customers in the form of a “cash discount” or “surcharge” is usually not the best way to handle this. In addition to creating customer dissatisfaction, there are very strict rules set by Visa and Mastercard regarding how this can be done. Most businesses that I have seen who do this are unknowingly violating these rules and are subjecting themselves to a very large fine.

Let me show you how to control these ever-increasing costs, WITHOUT switching your processor. I do not represent any processors. I represent the business owner. If I can’t save you money, my service is free. Read more here.