[Weekly Kick] How Do I Interpret Credit Card Processing Ads on Google?

This time on the FeeFighters Weekly Kick, Sean explains what those pesky ads promising “rates as low as 1.3%!” on Google really mean. You may realize there is an underlying catch in the ads but Sean explains how to get to the truth behind what the credit card processor is really offering.

One Comment

Gotmerchant.com says:

November 15, 2010 at 11:05 am

The standard pricing model is 3 tiered pricing, qual, mid & non-qual to cover all the different types of cards. If that wasn’t confusing enough, some have created another tier, making it four. The forth one breaks out check cards, debit cards that can be processed as a credit card. These debit cards must have the V/MC logo on it. Yes, the 1.30% may sound great, but only covers that single type of card and will not be the majority of your transactions.

Plus, all the companies I have ever seen that like to promote such a low discount rate, are normally the ones that lure you in with it and have much higher mid/non-qual rates than everyone else. Some could even try to push expensive leases and other terms that are highly profitable for them.

Go with an honest and upfront processor and an IC plus pricing model is always a good path to take as well.

Curtis

FeeFighters Business Chops

[Weekly Kick] How Do I Interpret Credit Card Processing Ads on Google?

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