Come on USA! Even Canadian Foodservice Operators are getting sick and tired of all these crazy high credit card fees, especially those associated with "rewards" to the customer. When are we going to ban together and stop accepting having to pay these fees? So unfair to us, and hogwash to those who say we actually benefit from accepting plastic. It's the credit card companies who are benefiting from all the interest rates and late fees. Where is the legal backing from larger business organizations who are supposed to be watching out for us? How long will we just keep paying?

Accept it..it's not going away..but you can shop those rates a find ways to lower your exposure..

 

 

Quality is NOT expensive, it's PRICELESS

 Trust is good, Control is BETTER

 It has become painfully clear, that IQ's should be required
 prior to issuance of a voters registration card!!

 

 

you shouldnt be paying more than 3%.

I have always thought of not accepting credit cards for other reasons.

Whenever I swipe my card to buy something, I realize I just spent $$$, but then when the bill comes I have to pay it again!! It's as if i paid twice (in my head)

Rami

Look into a Costco membership and take advantage of what that clout can bring.  I have been in business for 13 years and have changed processing companies at least 3 times.  Each time I switch it's because of the ever increasing Interchange fees and hidden fees.  Ever since the last switch (4 years ago) to Elavon (formerly Nova Information Systems), I've found the fees to be stable from year to year and no hidden fees to worry about.

I am a sales manager for a national processing company and I understand your plight.  It is completely unfair that business owners have to pay extra so the cardholders can enjoy the extra perks rewards cards offer.  God forbid it comes out of Visa and MasterCard's extremely deep pockets.  Unfortunately, it is how V/MC has structured their rates nationwide.  One of the common misconceptions is that the majority of the fees you pay go to the processor you are currently using.  To be honest, my company makes about $25/mo for every $5,000 processed, with the rest of the fees going into V/MC aforementioned deep pockets.

I would welcome to do any type of rate review for any business owner on this forum.  Even though I am partial to the company I am employed with, I am available to offer free quotes and honest consulting on what questions to ask and what fees may be "hidden".  I have always prided myself on doing an honest sale and know what it takes to keep business owners happy (by not hiding fees and doing increases what seems like every other month). 

I can be contacted at 866-725-8500 option 5 or .

Best of luck to all!

Greg

www.processpremier.com

I am a soon to be owner again and I finally found a way to cut discount fees.  I don't get s commission, kick back or any other reward so this advice is without strings. Check out:

http://www.merchantprocessing101.com/

I'm looking forward to saving money when I open.

No restaurant, large, small or in between, should be on a three or four tier pricing plan.  Restaurant owners should only be on cost plus/interchange plus pricing.  This is the only way you will know that you are getting the very best pricing possible without any "phoney downgrades".   Feel free to contact me for any additional information on Cost plus pricing.

 

 

Diana Knight

Card Solutions Inc

www.cardsolutionsinc.net