Comments on: Hidden Fees for High Volume Merchants

By: Ally Bank “Eggs” | Banking and co

Ally Bank “Eggs” | Banking and co — Thu, 27 May 2010 00:27:55 +0000

[...] Hidden Fees for High Volume Merchants | Social Business Bank … [...]

By: Margins | Cheap Wireless Phones

Margins | Cheap Wireless Phones — Fri, 02 Apr 2010 07:11:14 +0000

[...] Hidden Fees for High Volume Merchants | Social Business Bank … [...]

By: Alena

Alena — Wed, 31 Mar 2010 20:45:55 +0000

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By: High flow rate Coriolis flowmeters – 2010-03-11 20:47:19 | Control … | Control Engineering Addict

Sat, 20 Mar 2010 08:22:59 +0000

[...] Hidden Fees for High Volume Merchants | Social Business Bank … [...]

By: Hidden Fees for High Volume Merchants – Part 2 | Social Business Bank - Merchant Guide

Thu, 18 Mar 2010 08:55:14 +0000

[...] want to accept credit cards. But it is within your influence to reduce them significantly. Michael, who commented on part 1 of this series, pointed out an important fact: there’s a lot of stuff involved with downgrades. [...]

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By: bluetooth stereo headset | The Bluetooth Headsets

bluetooth stereo headset | The Bluetooth Headsets — Wed, 10 Mar 2010 23:57:42 +0000

[...] Hidden Fees for High Volume Merchants | Social Business Bank … [...]

By: Bill

Bill — Tue, 09 Mar 2010 19:10:08 +0000

Let’s not forget another hidden fee merchants face — interchange fees. Like you have written in the past, these fees are charged by credit card companies and either passed on to consumers or absorbed by businesses.

Interchange fees are non-negotiable for small businesses. This leaves them with an average 3% fee (or hidden tax) on every purchase. Over time, this could amount to a profitable or not profitable year.

Make sure to check out our website, http://www.thecreditcardcon.com for more info!

By: Samir Said, SBB

Samir Said, SBB — Tue, 09 Mar 2010 16:41:15 +0000

Wayne already points it out nicely: to the merchant it doesn’t matter where the fees come from and quite frankly, it shouldn’t matter either. It’s the job of the merchant account provider to make credit card processing as simple as possible to the merchant, regardless how complex it may be.

Similarly it doesn’t matter to the merchant why downgrades happen; the only important aspect to the merchant is a pro-active partner that informs the merchant about higher-than-normal downgrade activity and offers to fix it together with the merchant.

Many processors and aquirers just pass the complexity off to the merchant and that’s exactly the problem. Let’s face it: most merchants would be happy if the processor was calling them to fix a broken POS in order to avoid unnecessary costs but processors don’t like to do that because they’ll reduce their own revenues in the short run (albeit you make up for it tenfold in customer loyalty…)

By: Wayne Martin

Wayne Martin — Tue, 09 Mar 2010 13:53:42 +0000

I see a lot of responses on articles such as these that appear to be taken personally. Let’s not miss Alexander’s point.
I don’t think a merchant really cares whether it is the Acquirer or the Processor that is taking the fee. Often they are the same or in an alliance with each other. Either way, the merchant pays.
I do however have to take objection to the word ‘hidden’. Per transactions fees are contractually evident upon merchant initiation. I think a more fair term for these fees would be ‘often overlooked’ or ‘unmanaged’.
As for the assumption of keyed versus scanned, I think we should wait to see what downgrades Alexander is talking about before firing across his bow.