Tom Auer is owner of Bearse Manufacturing, a Made in America supplier of sewn goods to both the government and private sector. Recently, more of his customers were interested in paying by credit card.
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I just saw on TechCrunch that Intuit has updated their pricing for GoPayment. It appears that Intuit gave an exclusive to TechCrunch because I don’t see the changes anywhere else, including on their own (incredibly annoying) website. Read more
Zach Carter and Ryan Grim cover a lobbying feeding frenzy on an issue of concern to many merchants – debit in
terchange rates. They report Congress is considering a bill pushed by banks to delay implementation of the Durbin Amendment, which would mandate lower interchange rates for debit cards. Read more
How much does Verifone’s Payware Mobile actually cost? It’s complicated. Apple and Amazon sell the device for $149, so that part is easy. But what are the rates? And how does verifone compare to square? Read more
Microsoft Dynamics is a POS (point of sale) software system made by Microsoft. It supports two credit card processing networks: First Data and TSYS. If you are a Microsoft Dynamics user, FeeFighters can help you comparison shop for credit card processing. When prompted for POS System, just choose Microsoft Dynamics and your results will be limited to the merchant accounts that work with Dynamics.
For businesses that bill the same customers repeatedly using a stored credit card number, such as subscription businesses, a major challenge is handling cards that decline because the customer replaced his/her old card with a new one. Since card replacements happen pretty frequently (every time a card is lost or stolen), the operational headache of contacting the customer and asking for the new card number can be pretty large. Read more
Businesses that bill customers on a recurring basis have several challenges. One challenge is handling the accounts of customers who replaced their credit card with a new one (often because the card was lost or stolen). If the business bills to the old credit card number, the card will be declined and you will either lose the customer or have to spend time and money to contact him/her for new payment information. Read more
“Soft descriptor” is another word for dynamic descriptor. When you look at your credit card statement, each purchase has a description. Historically those descriptions were fixed for each transaction – set permanently as the name of the business. Read more
A customer asks:
I’ve read that merchant accounts can be frozen for too many refunds.
Is this true? Is there a particular type of merchant account that
could work for this? Read more
One reason customers are confused about their credit card processing is that the companies that provide that service, called Merchant Acquirers, have super generic names. Below is a word cloud of the names of all the merchant acquirers – click on it and blow it up to see the full detail. 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.
