PAYSTAND BLOG

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

Should You Stay or Should You Go? 5 Tips for Getting a Better Deal in Credit Card Processing

 

Most of the business owners we talk to have a "love/hate" relationship with credit cards. You love them because they enable your customers to buy things from you which they may not otherwise be able to buy, but you hate the transaction fees that take a big chunk out of your sales. 

We're here to tell you that when it comes to credit card processing, you don't have to "love the one you're with." New options for merchants, both online and at the point-of-sale, have exploded in the past few years. Many new entrants in the marketplace offer slick add-ons to mobile devices, but ultimately it's transaction costs that should drive your decision to stick with your current processor or move on. 

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Jeremy Almond Jeremy Almond on May 19, 2015

ecommerce, interchange plus, tips, business, merchant fees, credit cards, merchant statement

PayStand Essentials: How to Decode your Merchant Statement

When we first started talking to business owners and nonprofits about lowering their transaction fees, we were surprised to discover that many of them had no idea what they were currently paying to accept credit cards. So, we offered to take a look at their current merchant statements to find out. What we found was even more surprising: most of the statements showed that these merchants were paying a lot more than the percentage rate they were originally quoted for credit cards. It took some digging to figure out the effective rate being paid, however, because merchant processor statements are universally inscrutable.

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Jeremy Almond Jeremy Almond on March 3, 2015

3-tier, Payments, interchange plus, flat rate, merchant fees, credit cards, merchant statement, How To

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