Aug
29
Gift Cards
Filed Under Gift Card Programs, Rates and Fees | Leave a Comment
From the Journal of Accountancy:
“This consumer-merchant trade-off provides plenty of economic justification for retailers to offer and even to promote gift card sales because retailers stand to derive several economic benefits from such sales. Benefits from gift cards can include increased sales, marketing opportunities, improved cash flow and inventory management and a stronger bottom line as the result of unredeemed gift cards. “
My Gift Card programs start at just $299 with just $12.95/month service fee and no transaction fee. Call 612.229.8808 for more information
Aug
11
A competitor in the Minneapolis market is presenting a basic Valutec Gift Card program for around $2976.00. The program is bundled with a credit card terminal and very low credit card processing rates. Here’s the catch; the gift card program is a <$700 product and the credit card terminal is <$375 for a value of about $1100. The bundle is put on a 48 month, non cancelable lease against the terminal with payments of $60 to $69 per month. Do the math. In addition the lease has a $30 per year insurance charge for another $120. Don’t be suckered in to this deal call me at 612.229.8808 and we can have have a joint meeting with the representitive of this company and I’ll help you ask the right questions. I’ve had two meetings already. Remember: NEVER SIGN A MINIMUM TERM CONTRACT WITH A CREDIT CARD PROCESSOR AND ABSOLUTELY NEVER AGREE TO PAY A TERMINATION PENALTY IF YOU CHOOSE TO GO ELSEWHERE.
Sep
19
Visa and MasterCard Rates
Filed Under Rates and Fees | Leave a Comment
What are your rates for processing credit cards?
Great question, most merchants we talk to find it very difficult to identify total rates and fees they currently pay to process MasterCard, Visa, Debit and Gift Card transactions. Have you experienced similar frustration? Do you know what yours are? Rates and fees are very much dependant on what type of cards your customers use. Visa and MasterCard have more than 180 different card types, each with its own rules and costs that contribute to the rate you pay. How you process a transaction also effects your payment processing costs. These rules and costs are known as “Interchange. Interchange is the wholesale cost of goods and is exactly the same for all processors. Read more about interchange.
Fred Erickson
fred@merchantaccountstandard.com
www.merchantaccountstandard.com
Higher Standards, Inc
Voice: 612.229.8808
eFax: 1.888.657.8529