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How To Negotiate The Perfect Credit Card Processing Deal

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Chris Motola

Chris Motola

Expert Analyst & Reviewer: Payments & Finance at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.

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3 Comments

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    Zaza

    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.

      This comment refers to an earlier version of this post and may be outdated.

      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?

        This comment refers to an earlier version of this post and may be outdated.

        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
        !
        Laurie

          This comment refers to an earlier version of this post and may be outdated.

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        Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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