You Will Never Overpay for Credit Card Processing Again
In this ebook your will learn how to:
- Avoid getting scammed by deceptive processors and agents
- Eliminate hidden fess
- Pick a great provider
- Negotiate the lowest possible pricing
- Make merchant account contracts work in your favor
Now get it FREE through May 31st by “liking” our Facebook Page
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Did You Know:
- Merchant account fee quotes are almost never a true representation of the actual rates and fees you will experience? The quotes are basically lies by omission because they leave out the “hidden fees.”
- Most merchant account providers sell the exact same service as their competitors? There is no reason to pay a premium price for credit card processing services. Fee Sweep will tell how to get a fair deal.
- Most credit card processors bury fees in difficult to read contracts to get you to sign up quickly? Find out which ones so that you don’t get burned too.
- You can get the same low rates normally “reserved” for multi-million dollar companies? This rate tier can save you thousands in fees, but you have to know how to get it.
- A merchant account contract can actually work in your favor? Only if you know what to demand during negotiation.
About the Author
My name is Phillip Parker and I sold merchant accounts and credit card processing services as an Independent Sales Agent (ISA) for nearly a decade. As an independent agent, I could sell the services of any provider with which I had commission agreements. I will leave out the names of the companies to avoid implying accidental bias, but I sold the credit card processing services of both small Independent Sales Organizations (ISOs) and large direct processors.
Upon entering this industry, it did not take long before I began hearing stories from business owners about the poor treatment they had received from previous credit card processing companies. Not only had many experienced bad customer service, but most had also lost thousands of dollars in excessive fees. During my time as an agent, I saw hundreds of merchant account statements from different credit card processors and the common theme among them was that most business owners were grossly overpaying for credit card processing services. Many were desperate to switch providers but were faced with paying outrageous “early termination” fees if they cancelled before their contracts expired, and this is still the case for the majority of card accepting businesses today.
Most business owners are completely unaware of how credit card processing rates and fees are calculated and assessed. New business owners often get the worst deals because they are oblivious to the risks associated with credit card processing. Even seasoned merchants are often clueless on how to get a good deal and often wonder how their current provider is just as expensive as their last, even though their new processor quoted lower rates and fees.
I left the merchant services industry to pursue an opportunity in a different field but felt compelled to write this ebook to help guide merchants through the credit card processing minefield. In the following pages you will gain knowledge that can literally save you thousands of dollars in fees. “Part 1” will give you the knowledge needed to get the lowest rates and fees possible, “Part 2” will tell you how to pick a provider, and “Part 3” will give you a step-by-step guide for setting up your merchant account. Included on the last page of this guide is a cost comparison worksheet to help you keep track of the rates, fees, and final costs of each processor that provides you a quote. I have also included my email at the end of this guide and welcome any feedback or testimonials that you may have. Now continue on and prepare to save!
It’s Your Money…
If you process over $10,000 a month in credit card sales, I can promise that the contents of this guide will save you thousands of dollars in merchant account fees in as little as 12 months. I’m so confident in this statement that I’m offering a 60 day, no questions asked, 100% money back guarantee for the cost of Fee Sweep. If you process less than $10,000 a month, this guide will still save you thousands over the life of your business.
“He took a complicated and confusing subject and made it entertaining, easy to understand and extremely informative.”
-Deb Johnson
Download “Fee Sweep” Now
Read a Sample from the Guide
If you are having a hard time believing that Fee Sweep can save you such a large amount in fees, then have a free look at the first few pages:
Part 1 – Introduction to Merchant Services and What You Need to Know
This section is largely informational, but absolutely essential if you wish to avoid getting “scammed” into a costly multi-year contract.
“Pitfall” Isn’t Just an Atari Game
The credit card processing industry is complicated, confusing and unfortunately attracts a lot of unethical sales organizations and agents. There is very little regulation on what providers and agents must disclose to business owners during the merchant account setup process. There is even less regulation on how providers must quote rates and fees to business owners, which is the reason this industry is notorious for being known as having “hidden fees.”
Due to this lack of regulation there is almost no uniformity in how different providers structure their rates and fees. It is almost impossible to truly compare the costs between different providers because the quotes that merchants receive are almost never “apples-to-apples” comparisons. Nearly all providers purposely do not disclose every single fee that business owners will experience during the signup process, except for in a difficult to understand contract that is left up to the business owner to interpret. All too often business owners end up experiencing a transaction fee that is almost twice what the agent quoted. Upon attempting to cancel a merchant account, too many business owners learn about a three to five year contract with a $250 to $1,000+ early cancellation penalty that was never mentioned during the signup process. As you can imagine, there are a lot of business owners embittered about the credit card processing industry.
Sadly, many unethical sales organizations and agents that take advantage of naïve business owners by duping them into expensive, long-term contracts. It’s even more common for rookie sales agents to inadvertently sign up business owners for outrageously expensive contracts because they had no more knowledge about what was in the contract than the business owner did.
The following pages of this guide will arm you with the knowledge you will need in your merchant account search. The information provided in this section puts the power on the business owner’s side and strips away the potential of getting “scammed” into an overpriced merchant account with a long-term service agreement. To make it an easy read, I have included only the details that will matter to business owners. This is meant to be a simple “how-to” guide, not a textbook on the credit card processing industry.
The $100 Dilemma
Merchant account quotes often look like this: “Only 1.5% + $0.15/per transaction” or “2% + $0.25 per transaction for e-commerce”
Here are some examples found during a quick Google search:
(Advertisement Examples)
The problem with these types of rate quotes is that they only reveal the lowest of several possible transaction fee rates, which makes them the root of the “hidden fee” problem of this industry. Before we dive into the rest of the possible fee rates, we need to understand who is getting paid by these fees.
First, we need to define a couple merchant account terms: A transaction rate usually comes in two parts, the “Discount Rate” and the “Transaction Fee.” For example; in a quote of 1.5% + $0.15 per transaction, the 1.5% part is the “Discount Rate” (think of it as the percentage being discounted from the money you will get from the sale) and the $0.15 part is the “transaction fee” (a flat fee per sale). To illustrate who is getting paid the fees from the transaction rate, let us pretend that we are examining two separate $100 credit card transactions by the same customer at two different businesses: Bob’s Jewelry Shop and Jane’s Jewelry Store.
Jane got a great deal with her merchant account because she read this guide. For simplicity, we’re going to say that her $100 sale cost a total transaction rate of 2% for the transaction (combining the discount rate and transaction fee together) and the customer used a Citi Bank VISA credit card. For this sale Jane will get $98 and the remaining $2 will get split three ways:
- $1.75 will go to bank that issued Jane’s customer’s credit card, Citi Bank in this example.
- This portion of the fee is called an “Interchange” fee and it varies in cost depending on the credit card that is being transacted
- $0.18 will go to VISA
- This portion of the fee is call a “Dues & Assessment” fee and is fixed at 0.0925% for all VISA transactions.
- MasterCard’s Dues & Assessment fee is fixed at 0.0950%
- The remaining $0.07 will go to Jane’s merchant account provider as a provider markup, or margin
Jane’s $2 Transaction Fee Breakdown
As for the $100 sale at Bob’s Jewelry Store, unfortunately, Bob did not read this guide and got what most merchants get: an expensive merchant account with no added value over Jane’s. In other words, Bob pays a lot more for the exact same service that Jane gets. The $100 transaction will cost Bob 3.5% of the sale, a full 1.5% higher than Jane’s fee. How could this be?
The answer is quite simple; Bob’s merchant account provider is rolling in Bob’s money. Not only that, Bob’s merchant account provider uses commission-only sales people who also get a piece of the transaction rate. The higher the rate they get Bob to agree to, the more they get paid. Of course, Bob is unaware of all of this. Bob’s rate breakdown looks similar to Jane’s, but with a couple major differences
- $1.75 Interchange Fee
- $0.18 Dues & Assessment Fee
- The remaining $1.57 will go to Bob’s merchant account provider as a built in margin
Bob’s $3.50 Transaction Fee Breakdown
It doesn’t take an Economist to see that almost 50% of Bob’s $3.50 fee is going to a markup by the merchant account provider. In contrast, only about 6% of Jane’s fee is going towards a provider markup. Interestingly enough, the provider markup is the only portion of the rate that can be negotiated by the business owner and the merchant account provider. The Interchange fee and the Dues & Assessment fees are outside of the merchant account provider’s control. Multiply the difference Bob and Jane’s rate for several years, and Bob will be paying thousands of dollars more in fees than Jane. Simply put, Bob is getting screwed.
So how does a merchant avoid getting screwed? It’s not as simple as just asking for a lower provider markup. To answer this we need to understand which fees merchant account providers are leaving out in their rate quotes.
You just read the first six pages of this 26 page guide. The rest of the of Fee Sweep will teach exactly what you need to know about rates and fees, and how to get the best services at the lowest costs. Not only that, included on the last page is the “Merchant Account Cost Estimations Worksheet” which you can use to keep track of how much each provider will cost as you are making your comparisons.
Again, do not sign a merchant account agreement without reading Fee Sweep first. It’s guaranteed save you a huge amount in fees. If it doesn’t, the cost of Fee Sweep is refundable for up to 60 days – no questions asked. There is no risk and you have nothing to lose! Download Fee Sweep now.
Testimonials
Leave a testimonial is the comment section below:
35 comments
Dick
May 14, 2012 at 3:58 pm (UTC -7)
Hi Phillip. Great information & hopeful direction. Now I know why I get the feeling that each credit card processor promises me something better, and they tend to **always** disappoint this promise. I ran into something like this a year ago online and figured I would look at it more closely when I got closer to the end of my 3-Year Contract. About a year. But then a nice woman came through the door (still 6 months before the end of the contract) and pitched me this really low rate. When I said I may be interested when my current contract ends, she said No Problem, if you sign up with us now, we will just reimburse you for any Early Cancellation Fee. Further, if you sign up with us, there will be no contract period, and you can leave at any time if you are unhappy with no fee or penalty.
This sounded good, and I wrote it down. But I did not get her to sign it, or be certain that was in the contract. Well, now I regret it. The first company charged me the $295.00 Early Termination Fee and I have that in my records. Every time I call the company about getting reimbursed, they would have some excuse. Oh, you have to wait 6 months, then no problem. Oh, just fax us the details and we will send a check right off to you. But now, 6 months after I signed up they say that I must “qualify” for that rebate by doing at least “5 grand” of credit card business for 3 months in a row. That is 10 times over the average credit card sales, as listed on the sign-up contract. And this is the first time it was mentioned.
Plus, I now notice that while there is no mention of a time-based contract for using their services in the basic contract, I do see that their Terminal Placement Program, which was agreed to at the same time, says that the Terminal agreement is for 36 months, and renews automatically, plus the fee for early termination of that is $595.00. Yikes!! How did they slip that by me at the same time the woman was telling me there was no contract to worry about, that I could leave at any time with no penalty?
I am now trying to get in touch with the woman who signed me up, and trying to see if the company will agree to reimburse me as she promised. Any other hints for how to negotiate? I see your steps for filing a complaint and can try to use that for a bit of leverage when it seems like the best time. I just want to get out of this and go on with finding a good processor as you suggest. But it sounds like that will not be easy.
Phillip Parker
May 15, 2012 at 9:47 am (UTC -7)
Hi Dick,
Thank you for the comment. It sounds like you were intentionally mislead by your sales person who purposely failed to verbally disclose important terms of the agreement to you. Unfortunately, this is all too common in the industry. The best course of action would be to let them know that you will be reporting them on this site, the BBB and your state’s Attorney General if they do not honor what was verbally told to you. If that doesn’t do the trick, start reporting them.
JD
May 7, 2012 at 2:25 pm (UTC -7)
Hi Phillip,
First of all, thanks for hosting this great site of info! My business is considering switching credit card processors to reduce our fees. However, after we got all the paperwork in place and accounts set up for the switch, we find out that the new merchant services organization has put a cap on our monthly processing which is very close to our average per month total. Any amount over the cap that gets processed, the merchant services organization will hold those funds for 180 days before we get them! That seems excessive to me and gives me pause to use them. Your thoughts?
Thanks,
JD
Phillip Parker
May 7, 2012 at 3:34 pm (UTC -7)
Hi JD,
Thank you for the comment. Processing limits and holds are a very common procedure in the credit card processing industry, especially for businesses with little processing history or that have a higher than normal risk of chargebacks or fraud. It is good that the processor has informed you of this limit ahead of time as too often merchants only find out about it after their money is being held. Generally speaking, most providers will raise your limit after you established a few months of processing history. You will likely have to request raises in your limits, so give them a call once a quarter or so until they are willing to raise it to an acceptable level.
EJ
May 4, 2012 at 5:34 am (UTC -7)
Mr. Parker:
You should have the name Fee Buster added to your name. As a one man (pop) carpet cleaner I stayed away from modern gizmos. Then I stepped into a neighbor hood bank to open a new business account. When I was told to “get with it” – a credit card processing machine. Well, he must have seen a tiny glitter in my eyes.
The following day an affilitate called. And, Wham! Bam! Via faxes I was signed up that same day. Had I read your EReport eleven months ago, my response would have been – Thanks, but no Thanks! Well, to cut the chase, pun intended, the shake down started within weeks. My checking was “held up” by this 21 century mob/gangster organization. Within the months of receiving the CPM: fees, fees, and more fees were withdrawn from my account. I then called to querry the plethora of charges with no apparent success. The fees just kept pilling on. Never did i imagine such a financial abuse was about to ensue on the day I signed and faxed back that contract. My now nine month checking account is now on hold to be reviewed. Currently I am unable to make deposits, withdraw at the ATM, get credit for my end of day sales batch. This I found out when my card was denied at other retailers. Consequently, I walked in to a branch to make a complaint. There I was given an 800 number to ask why. If the bank chooses to close my checking, and the leasing company decides to come after me, what do i do to avoid breach of contract fees? What are my options?
I need some serious help against this unregulated powerhouse.
Please don’t call me stupid to make such a rush decision. I feel bad enough already.
Phillip Parker
May 4, 2012 at 11:17 am (UTC -7)
Hi EJ, sorry to hear about your situation. Unfortunately, it is all to common in the credit card processing industry. I would suggest reading this post: How to Report Bad Credit Card Processors
Best of luck to you!
Joan Artz
May 3, 2012 at 12:17 pm (UTC -7)
Fee Sweep is very concise and easy to understand. I highly recommend it for anyone who needs a merchant account; I just wish I had come across it a year ago!
Joshua
April 26, 2012 at 12:58 pm (UTC -7)
Phillip what do you consider to be a fair interchange pass-thru rate for merchants as well as ISO agents?
Phillip Parker
April 26, 2012 at 4:31 pm (UTC -7)
For a merchant with average volume ($10K-$20K per month), I feel that an Interchange-plus pricing markup of 0.30% it fair to both parties. I think a fair maximum markup for low volume merchant is 0.50%. The additional flat transaction fee should be based on the merchants average ticket size so the lower the average ticket, the lower the fee should be. In my opinion, 10 to 20 cents per transaction is fair. Anything lower than those markups is a pretty good deal.
MM
April 24, 2012 at 6:02 am (UTC -7)
Thanks Phil.
The link is still not working for me. You have my email. If you can forward a copy to that address that would be helpful. My “like” did register on your facebook page.
Phillip Parker
April 24, 2012 at 4:34 pm (UTC -7)
Odd.. May I ask what type of computer and browser you are using and what name you used for your Facebook account?
MM
April 23, 2012 at 1:13 pm (UTC -7)
Per the instructions, I liked on Facebook and no link appeared as promised. It is April 23 and your offer expires April 30. An interesting result. Lot’s of good reviews yet I can’t seem to get the download version as promised on this screen.
Is the offer still active?
Phillip Parker
April 23, 2012 at 2:42 pm (UTC -7)
Hello, please follow the link below and you should be able to get to the download link:
http://www.facebook.com/cardpaymentoptions?v=app_197602066931325
Deborah Chud
March 19, 2012 at 5:29 am (UTC -7)
I am just starting out in business and have already encountered more than my share of fraud. There are potential nightmares every place you turn. This guide saved me from at least one.
Allen Hardy
February 17, 2012 at 6:39 pm (UTC -7)
FeeSweep is a great read–not only illuminating, but simply organized and well-written. Obviously not the last word in this kaleidoscopically complex industry, but a great–if sobering–introduction.
Hans Phillips
February 17, 2012 at 12:22 pm (UTC -7)
Phillip,
Wow! Thanks for all the time and energy you put into educating me and others. The thousands you are saving us is a gift. Happy to suggest your services to others. I now know how to negotiate a great rate for our new company and save money in the process. Bless you!
Hans Phillips
Tova
February 16, 2012 at 2:18 pm (UTC -7)
Phillip I think you are from the same DNA that I am from :) The difference I had 15 years or so in finance world brokerage, banking, real estate, and so on…..my little bit to help is give the price that IS fair take less and share asking for referrals. Try to live on the twelve dollars a month or twenty dollars a month and have more folks getting that fair pricing. You are correct of course the processor and the interchange make the lions share, they also (some) allow cost plus pricing and the “agent” or ISO or ISO rep can price from cost. I choose to make that difference for everyone and hope that thru referrals I will also be able to continue helping and make enough to have a small business plan support me as well. There are very very few that will do what you and I do. Probably none. Maybe we are the only two. I know for a fact that I price so well I have virtually saved thousands and thousands of dollars for Customers by doing exactly what you wrote about. Pricing interchange (cost -plus) and literally showing maybe $12.00 (24.00) total as I have to pay half to the processor just to do this for folks.
I wish there was a way to advertise that but there probably is no way except word of mouth., so I ask for referrals. I just this month finally made $600.00 that was it !! The dedication it takes to make a difference is like your book I think it all pays in the end. I need a free one though LOL !!
Bill Lemke (The Steel Bridge Cafe)
January 6, 2012 at 5:48 pm (UTC -7)
Phillip,
Your E-book “Fee Sweep” was very helpful. It is easy to understand, organized, yet very comprehensive. I was able to negotiate a .07 percent + .10 Transaction fee on an interchange pass thru and .25 on debit, and no other fees with the exception of PCI Compliance. In the past I dreaded talking to salemen, now I can speak their language and am at ease – and do they know it! Thanks again for your help.
LEWIS
December 29, 2011 at 3:35 pm (UTC -7)
hi, i wish i had read your book before i opened my merchant account. my merchant account provider did nothing but lie to me. they also attached fees that were not due for another 4 months to my monthly fee hoping that i would not notice it. it wasnt hard to notice since the illegal withdrawal they did caused my bank account to be overdrawn. they admitted fault, told me it was a mistake and that it would never happen again. to no surprise they tried another illegal withdrawal less then 3 days later. my bank quickly took the money back minus the overdraft fees of course because the merchant account company i use admitted guilt. they promised to have the fees deposited into my account within 7 to 10 days. well im still waiting…my bank credited my account and now my bank is going after them for the fees. these merchant account providers are nothing but crooks. i dont understand how any decent person or company could do these types of things to other people. there is just no honesty any where in the world anymore. i remember when i was a kid, my dad used to seal a deal with a handshake and just by looking a man straight in the eyes. now a days people look you in the eyes and tell you a lie, and will use the same hand they shook with you on to stab you in the back.
Wayne
December 15, 2011 at 8:50 am (UTC -7)
Hi, Phillip,
I’m a independent Account Executive for an ISO. Being the ethical and moral person that I am, I want to do good business by the merchants and still earn a viable income. Does your ebook provide any help in this connection?
Phillip Parker
December 15, 2011 at 10:57 am (UTC -7)
Hi Wayne,
Fee Sweep covers how rates are calculated and the tactics the agents/providers use to get merchants into expensive contracts. It then teaches merchants how to negotiate the contract in order to get the lowest fees available in the industry. If you are new to the credit card processing industry and unfamiliar with the differences between bucket pricing and Interchange-plus pricing, you may find the book helpful in understanding how to be fair with merchants.
Vanessa
November 20, 2011 at 6:19 pm (UTC -7)
Thank you very much for your enlightening and thorough book. I own a wellness center and have a multi-practitioner retail set up. I have had people in the industry try to explain this whole thing to me many times – and now I finally understand it from your clear explanations. I have been through the process of gathering quotes from many providers in the past and felt completely confused and frustrated. Now I can negotiate with confidence and speak their language. Thank you so much ahead of time for your help in getting all of us here “Interchange” pricing. I didn’t realize that was available to all merchants and not just higher volume businesses, which is what I was told in the past. It’s great to know what is reasonable to ask for and feel confident in moving on from a processor that doesn’t give me something reasonable.
+1
Keeda Pfingsten
August 25, 2011 at 10:43 am (UTC -7)
Mr. Parker,
I stumbled upon Fee Sweep while “googling” for information that would aid me in making an informed decision concerning credit card processing. I hit the gold mine when I found your nugget! I had quotes from three providers and, as you mentioned, they were all structured differently. Once I got all of them in Interchange Pass-Through format, I used the worksheet on page 22 to make an apples – to –apples comparison. I agreed to continue processing with our current provider but not before they significantly reduced the fees that they were charging me. I’m on line to save $17,000.00 yearly – thanks to your e-book! For the first time ever – I feel like I negotiated a great deal for credit card processing.
Sincerely,
Keeda Pfingsten
EventsMan
May 23, 2011 at 10:38 am (UTC -7)
Mr. Parker has done a wonderful job in thoroughly explaining the very complicated subject of credit card processing in a way that any business owner can understand. His insights and advice will surely have an impact on the merchant services industry as more and more businesses read this book. After reading this book, there is no doubt that I have been overpaying for merchant card processing for a very long time, and I feel pretty burned now knowing that I could have been saving a lot of money the whole time. The amount of money these processors take from us is sickening, especially considering how little they do to earn it. I will be actively promoting Mr. Parker’s book to all of the businesses I work with.
Lori
January 4, 2011 at 5:54 pm (UTC -7)
Thank you for writing Fee Sweep.
This will help me write better deals for my merchants.
I recommend it not only for business owners looking to process but for merchant services sales agents like myself looking to learn how to write up good customized deals for my customers.
Thank you,
Lori
Joe B.
December 17, 2010 at 3:59 pm (UTC -7)
Thank you very much for your enlightening and thorough book. I own a wellness center and have a multi-practitioner retail set up. I have had people in the industry try to explain this whole thing to me many times – and now I finally understand it from your clear explanations. I have been through the process of gathering quotes from many providers in the past and felt completely confused and frustrated. Now I can negotiate with confidence and speak their language. Thank you so much ahead of time for your help in getting all of us here “Interchange” pricing. I didn’t realize that was available to all merchants and not just higher volume businesses, which is what I was told in the past. It’s great to know what is reasonable to ask for and feel confident in moving on from a processor that doesn’t give me something reasonable.
Greg
December 8, 2010 at 11:55 am (UTC -7)
This book has some great info, thanks. Very tired of feeling like I am getting ripped off every time I talk to a provider. I feel like I am much more prepared and not playing on “their” terms.
Molly
November 3, 2010 at 5:16 pm (UTC -7)
Very glad I read this before the holidays. Now I have time to switch providers and get much lower rates before the rush kicks in. This ebook is well worth the money!
Heidi K
October 21, 2010 at 6:59 pm (UTC -7)
Excellent ebook! It covered everything and was easy to read and understand. It was well written with in-depth clear information and I feel confident to deal with setting up my first Merchant Account. Definitely worth the money!
Julie S.
October 19, 2010 at 10:10 am (UTC -7)
I was skeptical at first that this book could really save me on merchant account fees. I’ve heard it a million times from telemarketers and door-to-door salesmen how they could save me 50% or more, but after changing processors a couple times the savings were always minimal or non-existent.
I was paying almost $6,000 a year in merchant processing fees. I bought this book three months ago and then called my current provider and threatened to cancel my account because this book opened my eyes. These merchant companies take advantage of people! I told them what they needed to do to keep my business based on what I learned from the book and after two months of statements I’m on track to save over $3000 over the next 12 months. Nothing, and I mean nothing has ever saved me this much is one phone call! I normally don’t leave reviews, but the results were so dramatic that I felt like I should spread the word so that other hard working business owners could fight back. Seriously, read it.
Mark
October 7, 2010 at 1:50 pm (UTC -7)
Thanks for the book. Definitely has some good pointers…. Would be surprised if I don’t save some money.
Ken R.
October 4, 2010 at 6:04 pm (UTC -7)
This guide is surprisingly easy to read! He really does a great job of keeping it simple and easy to understand. Everything else I found online about credit card processing was confusing and left me with more questions than I already had. Not so with this guide. I now feel completely confident that I won’t get scammed with my next merchant account and will be using Phillip’s instructions very soon.
Thanks so much Phillip! You’ve done a great thing by writing your book.
PhotoDeena
October 1, 2010 at 4:23 pm (UTC -7)
After reading this guide I immediately decided that I needed to switch credit card processors. There was so much that I didn’t know! I was getting the same high rates that Phillip says most people get, so I followed all of his instructions for picking a provider and negotiating rates. Even though it cost me a $150 cancellation fee, I switched providers because I was able to get the type of rate Phillip’s guide told me I could. After one month I can already see that I’m going to save over $700 a year. Where I’m from $700 goes a long way. This is a must read and well worth its price! Thank you so much!
Deb Johnson
September 30, 2010 at 5:13 pm (UTC -7)
I was clueless when it came to credit card merchants. After doing research on the subject for my employer, I was lost. Luckily, I stumbled upon this page and purchased “Fee Sweep”. It was so easy to follow (unlike most other websites and manuals) and extremely helpful. He took a complicated and confusing subject and made it entertaining, easy to understand and extremely informative. I saved my boss tons of money and was able to explain it with ease. I recommend this to anyone new to merchant services that doesn’t want to get screwed.
steve
November 7, 2011 at 8:49 pm (UTC -7)
Hi Deb. I work in merchant processing and it is nice to hear about educating yourself in this subject. I know all too well about merchants being screwed over. There are more talking points being used by sales reps in this industry that its sickening. This isnt a sales pitch, but more of a congrats. Im a salaried rep not a commissioned rep. Good for you by helping the company.