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Posts in December, 2009

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MAIN STREET RETAILERS WILL OVERPAY PAYMENT PROCESSORS $73 MILLION THIS HOLIDAY SEASON

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Transparent Financial Services (FeeFighters.com), a leading marketplace for businesses seeking financial services, has today announced that small retailers may overpay an estimated $73 million for credit card processing during an already tight holiday season. As a result of weak predicted sales, retailers are looking to cut operating costs as much as possible in order to maximize revenue. Read more

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Retailer? You may be entitled to some cash from Visa/Mastercard

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The National Retail Federation today reported that more than half a million retailers will begin receiving checks which total over $1 billion this week. The refund is the result of a federal judge’s decision to approve an early payout of funds from a 2003 settlement of a class action lawsuit against Visa and MasterCard’s debit card practices. Retailers welcome the extra money during a slow holiday season where the ongoing credit crunch is taking its toll. Read more

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Take charge of pci compliance

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Restaurants in Louisiana are suing makers of their point-of-sale systems after hackers stole tens of thousands of dollars by stealing credit card numbers. These restaurants maintain that companies who made and resold the systems should pay up on the fines put forth by payment processors after the hack. They have filed a class-action lawsuit alleging that their point-of-sale systems were out of compliance with the PCI DSS (Payment Card Industry Data Security Standards). Read more about the details regarding the damage and claims here. Read more

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Twitter for your business

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With all the hype regarding Twitter, it may be confusing to figure out whether using Twitter will ultimately effect your business’s bottom line. I recently came across this cool article which summarizes 15 key ways to use Twitter in your business, based on the book Twitterville by Shel Israel. Here are some examples: 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: