How Does Credit Card Processing Work?
The way credit card processing companies make money for themselves can sometimes be a confusing labyrinth where fees are hidden, percentages are tied to things not listed on statements and the deal you think you are getting isn’t the best deal you can actually get. Host Merchant Services is dedicated to giving its merchants the lowest price guaranteed, and the company strives to maintain transparency with no hidden fees. So take a walk with us and see behind the curtain as you learn exactly where the money is being made when you swipe a customer’s credit card.
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For start-ups, very small businesses, or home-based businesses, it is not always a given that your business will be granted a merchant account. It may be best to apply for merchant account status with the bank with which you already do business. Banks view granting a merchant account as an extension of credit and will evaluate your business as such. Your business generally has to have been in business for up to 2 years.
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Why choose Brad Franzen for your merchant services?
Brad Franzen acknowledges that the world is moving further away from paper and is going towards mobile and electronic. Businesses that are keen on maintaining the traditional cash-only policies will not only fall behind their competition, but will also fail to meet their customers’ expectations. By choosing Brad Franzen for your credit card processing provider, you have the guarantee that:
You will get an user-friendly card payment processing solution
Our systems meet the highest standards for payment security
Our solutions are PCI SSD compliant and protect customer sensitive data
You can reduce labor costs and time thanks to our integrated payment with accounting solutions
You will have a simple and efficient tool to help you with business resource planning
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- No cancellation fees: Brad Franzen says that owners should never sign a merchant account contract that charges cancellation fees. Without these fees, business owners can cancel their accounts and go with a lower service provider without having to pay a hefty cost to do so.
- Rate locks: Require that your provider offers a lifetime rate lock on fees. This way, your fees will remain the same every month. Service providers often tempt business owners with low initial costs, Brad Franzen said. But over time, these rates slowly creep up. Before long, business owners are paying far more than they expected.