I get asked if we offer a free credit card processing terminal program all the time so I’d like to expose the “real deal” behind these programs should you be considering one: The old adage “You can’t get something for nothing” was never more applicable than with so- called “free terminal” programs. In this instance, “free” actually means no upfront costs. What many processors often do is provide a with a terminal at no upfront cost but then charge other fees instead, such as an annual fee, a monthly minimum fee or a termination fee.

Credit Card Processing Companies…Smoke & Mirrors – How to Protect Yourself from Getting Burned?

There’s plenty of competition within the bankcard industry and unfortunately, many merchant account providers have turned to “smoke and mirror” techniques to make their processing costs appear lower than they actually are. Many business owners treat a merchant account as a commodity and think that they should make their decision strictly on rate. You might look at credit card processing as a commodity like any number of items you use in your business every day. But, it’s a commodity only for as long as it works properly.Anyone who has accepted electronic payments for any length of time will tell you that despite the sophistication of today’s systems things can go wrong. Money can be lost or misrouted; customers can be billed incorrectly, clients can and do dispute sales etc. It’s times like that when you appreciate the person who set up your account at the beginning is the same person who’ll make sure that your problem is resolved quickly.