I recently found an older article at Internet Retailer magazine, entitled How to Pay Less for Payments by editor Don Davis. It has some good stories about business owners negotiating credit card processing deals to save money. Read more
One of the worst practices in the credit card processing industry is called Marking up the Downgrades. A Downgrade occurs when the business owner has a tiered pricing agreement with his/her merchant account provider (credit card processor) and a transaction occurs that does not qualify for the lowest possible interchange rate. Read more
The pace of articles relating to credit card fees is accelerating at a rapid pace due to the credit card legislation going through congress. In fact, there are so many articles flying around that it is hard to keep up. So, what does that mean for FeeFighters and for you? It means that we should be filtering the myriad articles out there down to the top handful in order to help you, our valued customers and other small business owners (hopefully soon to be customers), get the skinny on what is happening in the credit card world. Read more
The most common pricing scheme for small business merchant accounts (credit card processing accounts) is called Tiered Pricing. Visa and Mastercard’s pricing rules, called Interchange, are very complicated. The price of each transaction is calculated based on several factors, including 1. the kind of card used 2. the kind of business the card was used at and 3. the circumstances of the transaction (for more information read our article on interchange). There are thousands of different interchange rates and a typical business will have transctions in a couple dozen different categories in a given month. 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.
