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How To Negotiate The Perfect Credit Card Processing Deal

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Tom DeSimone
Based in New York’s Hudson Valley, Tom has written for Merchant Maverick since 2013. His work is cited by publications including TechCrunch, Washington Business Journal, and Bank Advisor. He currently serves as Partner Marketing Manager, where he works to connect exceptional brands with the readers they serve best.
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    1) My coaching business is considered high risk. I need Gateway and processor that works with Shopify. I want to know people’s experience with Payment Cloud. Their interchange plus rate is much better than Durango, 1st data and others. Do you know if Payment Cloud has charge higher fees than what the contract originally said? Payment Cloud’s Agreement has in at least seven different places in their sections describing the schedule of their fees the following phrase, “as amended from time to time”. Is this typical?

    2) Payment Cloud Agreement states “the schedule of fees is predicated on my business’ average monthly sales volume…”. My sales volume could vary by 5 to 10 K per month so it sounds like they could change my fees. Anyone know if they would? They insist on a renewable 24 months contract with early termination fee of $595.

      Lisa Brumm

      What about using a pin pad for debit cards? I’m being told 2 different things from 2 companies. One says it doesn’t matter anymore, it’s the same fee whether they use pin pad or not. The other company is saying .10 a transaction on the debit card, no matter the amount. Who is correct?

        Laurie Dion

        I will forward you a copy of a contract I was about to sign between my company and Costco Elavon account, and then another person from Elavon sent me a second contract, these people are so dishonest. I am sad as I have had a Costco card for over 20 years and also loved Costco customer service. can’t believe they are involved with this company I guess money rules everything

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