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Posts in September, 2009

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37signals on how to limit chargebacks

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Earlier this year the guys at 37signals wrote an informative post about how they limited chargebacks. In it they shared their history of changes that reduced chargebacks little by little. This culminated in an innovative idea to create a website that explained 37signals’ charges to their customers. The URL of this site was then used as the business name on the credit card statements of customers. From their post: Read more

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Merchant Maverick on Interchange-Plus Pricing

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Merchant Maverick, an outstanding merchant account review site, just published a great post on interchange and interchange-plus pricing. We are giving this post the FeeFighters “must read” certification so check it out when you have a chance.  If you want to learn more about interchange and interchange-plus you can also read the following two posts that we have written on the subject: Read more

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Visa Survey Suggests Customers Not Sympathetic to Merchant Costs

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A new survey conducted by Visa recently found that consumers aren’t sympathetic to merchants when it comes to the costs of accepting credit and debit cards.  It turns out that “consumers believe retailers benefit far more from accepting credit and debit cards than they pay in costs.”  Consumers also believe that merchants look at card acceptance costs as a cost of doing business, just like they look at electricity. Read more

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Easy PCI Compliance

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PCI Compliance rules, designed to ensure that credit card numbers are not kept on merchants’ computers in a form that are easy to steal, is a good thing, nobody like having their credit card stolen and fraud hurts everyone.  However, it is expensive and complicated for everyone who accepts credit cards, in particular online merchants.  Most business owners have no idea what they have to do to meet the PCI compliance requirements. Read more

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Post Round-up: The Hassles of Checks & 20 Time and Money Saving Tips

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This is one of many “post round-ups” that will start to show up on Financially Speaking. These post round-ups will allow us to quickly and easily share articles we find relevant to business owners. In this edition we highlight a post on the Consumer Reports website that highlights the hassles consumers face when using checks.  We also highlight a post on American Express’ OPEN Forum that puts forward 20 time and money saving tips for business owners. Read more

Quick Hits

How Utility Companies Can Save At Least 25% on Credit Card Processing

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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.

7 Steps To Zappos-Quality Customer Service

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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.

FeeFighters Panel @SxSW

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: