Credit Card Processing

by Jay Sumlin
(Oakdale, La)

Jay Sumlin

Credit card processing can be both a dream and a nightmare all rolled into one. Most business owners are not aware of how much they are paying to accept credit cards.

This can not be over looked, due dilligence and research is a must. Shop around and do a strict price comparison to make sure you are getting the best rate for your business. Here are some good links to check out. www.merchant101.com and www.truecostofcredit.com will help you understand the credit card processing business better.

If you think that getting your credit card processing equipment from your bank or wholesale club is a good idea, I advise you to think again and do your research and ask for a statement analysis from another vendor to get a great rate and get most of the money in your pocket.

Why you should never buy or lease your credit card processing equipment. Buying or leasing a credit card processing terminal is not a wise investment unless you have multiple lanes like a grocery store or other multi lane shop. What good is the equipment if you go out of business? That credit card terminal can only be used as a bookend. Not only that, along with your monthly fees and the processing fees you have to add a lease fee to that or you paying for something you can get free from other credit card service providers, not your local bank or wholesale club.

Getting a business cash advance on your future credit card sales may be a good idea, again you need to do some research and price comparison.