Have poor credit? These days it’s hard to find someone who doesn’t. I can’t count how many emails I’ve received from merchants desperate to get the best merchant account, but unable to do so because of their low credit score. The truth is that they can get a merchant account…they’re just not looking in the right […]
As 2011 comes to a close, and credit card processors scramble to get their 1099-K documents filed, some of them are trying to recoup their administrative costs by passing on a fee to the merchant (You). Some are even using this opportunity to profit off of these regulatory requirements, charging as much as $3.95 per […]
Back in January I interviewed Adam Pflaumer from EP Consulting. Adam is a consultant that helps merchants lower their credit card processing fees, in most cases, without having to switch to a new provider. In that interview Adam also talked about an ebook that he’s been working on. That ebook has been released, so if […]
So, this is pretty straight forward. You dispense marijuana (cannabis) that is legally prescribed by a certified doctor to patients that need their medicine. The problem is that most of your customers want to pay by credit card, but unfortunately, you only accept cash. It’d be nice if you could accept those cards, wouldn’t it? […]
The short answer is yes, but there’s more to it than that… The Statistics According to the U.S. Census Bureau, there will be a projected 181 million credit card holders living in the country this year. That’s over half the population. I could get into even more detail about the numbers, but it’s pretty obvious […]
The other day I was reading an article over at Transaction Trends called “Managing Problem Merchants.” If you feel like putting yourself in your ISOs shoes for a bit, give it a read. As much as we like to think that we’re always 100% right, and that we should do everything in our power to […]
There’s a little known risk management tactic that the bankcard industry is using with increased frequency these days called the “rolling reserve” or holdback. For those of you that don’t know what it is, here’s a quick definition: A strategy used by credit card processors, acquiring banks or MSP’s (merchant service providers) to lower the […]
One of the toughest things to understand about the merchant account industry, is the actual industry itself (i.e. how it operates, who the players are and what goes on behind the scenes.). The credit card Cosa Nostra doesn’t like to function in plain site, so you need to dig deeper to understand it all. Between […]
It’s a daunting task…or is it? Merchant account setup doesn’t need be a hassle. Of course it may seem so, especially when you first dip your toes in the process, but with a little advice from the Maverick, you’ll be up and running in no time, and hopefully, without any stress. I’ve broken the process […]
