Lets talk about credit card rates, wholesale or retail. So many merchants, when they go into business, know that when they accept credit cards it increases sales. Unfortunately there is a fee for doing that. But it is worth it rather than loosing that customer if you want the sale. Ther are some business owners that don’t think it is worth the risk and try and get cash all the time. I have been in business over 40 years and know this doesn’t work when you want to grow your business.
So what do we do when accepting credit cards? Well there are companies out there that are lower in the rate they charge than others and you have to do your homework. It used to be in the industry that most everyone was sold a retail rate when accepting credit cards. This is because they are buying the premise that they are getting the lowest rates. Even your best msp-iso, which stands for merchant service provider- independent sales organization, charged retail rates because it was the norm and everybody did it until now. The credit card business is huge and very competitive, so ther are level 1 processers out ther that are fighting to get your business. Don’t be afraid to check around because I guarantee that there will be someone out there that is lower in price. But getting the lowest rates doesn’t always mean you are saving the most. There is a per transaction charge and it can be as high as 25 cents per swipe. That is retail for that. You can get it down to around 10 cents per swipe.
The level one processors include First Data, Citibank, Bank of America, Lucrazon, and others. Just remember that just by going with any of these companies doesn’t guarantee you the lowest rate. Out of the 12 or so level one suppliers in the world I only know of one that is giving the lowest rate to every business owner. You can be doing 1K a month or 1M a month it doesn’t matter. They are out to turn rhis industry upside down and help the small guy. Credit cards, wholesale or retail, which do you want. Put money back in your pocket and grow your business.
By the way if you would like to become a merchant service expert and earn a residual income there is a way. contact me I will be glad to help you.
Credit cards, wholesale or retail. If you want to know more about credit card rates or need more information to make a choice click here