NYTimes published an interesting article today called Small Business Owners Lobby to Cut Credit Card Fees. We think they did a really good job of explaining how part of the profit goes to interchange and the rest to the processor / merchant acquirer. Read more
If you have been reading this blog you probably know that credit card processing fees are split between two parties: Visa and Mastercard, whose fees are called interchange and assessments and are mostly passed along to the banks that issue credit cards and the businesses own acquiring bank / credit card processor / merchant acquirer. You also probably have learned that interchange is not negotiable while the markup of the processor is negotiable. But you may not know what businesses like yours pay on average for their credit card processing. Below is an analysis that we got from informed-merchant.com, which they based on analysis from First Annapolis Consulting and Morgan Stanley. Read more
In my last post I talked about why you should leave your corporate job and join a startup. In this post I want to talk about how you can get a job at an awesome startup like FeeFighters.
Outright, online accounting software for small businesses, seeks to streamline business accounting. How are they different from other business accounting sites? Let’s take a look.
Lots of times FeeFighters users ask us what a personal guarantee is and when/why they have to sign on. This week’s kick addresses that issue as Sean talks the basics on personal guarantees.
FeeFighters recently spoke at a utility conference about how its participants can save money on credit card processing. After analyzing one of the participants’ credit card processing statements, we realized they could save 25% or about $30,000 annually on their credit card processing fees.
Last week, I had the pleasure of speaking at the Extreme Entrepreneurship Tour. My task: inspire students to consider becoming entrepreneurs. One of my pieces of advice was to expand professional social networks by joining LinkedIn.
We were having lunch with our friends Sunir and Mike from Freshbooks, and Sunir mentioned the event SOBCon. I had no idea wtf he was talking about, but he then explained that SOB stands for Successful Online Business.
By the time we talk to business owners, many have been burned by a credit card processor. They reach out because they have been lied to, promised lower rates, and altogether feel cheated.
Many business owners in these uncertain times are looking for a way to turn around their flailing businesses.
We had a great time submitting, organizing, and speaking on our panel on financial institutions and startups. Here are some photos from the event and a great summary from moderator Felix Salmon:
I was reading the New York Times, learning from Thomas Friedman about the myriad of Islamic uprisings that are about to occur and I was presented with the attached ad.
