Reading into your statements

3 Tips to Reading Your Processing Statements

As a merchant, you likely know the importance of reading your credit card processing statements. However, taking the time to read your statements does not do you much good without the proper knowledge in how to approach it. When you read your credit card statements without effective practices in place, you run the risk of paying more than you should. If you understand how credit card statements work and you understand the different fees involved, you will better be able to maximize your budget and profit-making potential. With this in mind, here are 3 helpful tips to reading your processing statements. 1. Questions to Ask While Reading Your Credit Card Processing Statements The first thing you need to establish when it comes to reading your statements are the particular questions you need to be asking. These questions will help you read your statements purposefully and ultimately ensure that you are…

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How to calculate your credit card processing savings

How Can I Save the Most on Credit Card Processing?

Having costs associated with running a business is impossible to avoid and there is no exception to that when it comes to the costs associated with credit card processing. As such, you will want to save on expenses where you can. With the rising popularity of using credit cards as a primary means of payment, it is a good idea for companies to do what they can to reduce the costs of credit card processing as much as possible. With that in mind, here are some helpful tips to help you save the most when it comes to credit card processing. Choose the Right Credit Card Processing Company It is a good idea to shop around a little before settling on a particular company. Take the time to check out what different companies are charging so that you can know you are going with the best possible option. Make sure…

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Primary Credit Card Processing Players

There is a general misconception among consumers who hold credit cards that credit cards are like bank checks. When you write a check, it goes to the bank of the recipient, passes through that bank and a clearinghouse, and then through your bank to get paid. With modern technology, the check can clear both banks and the clearinghouse within minutes, hours or just one day, given the electronic devices that send signals through the banks and the clearinghouse to get the check through. With credit card processing, the process is much more complicated and takes a much longer time to clear the charges for a purchase. Only when the credit limit is maxed out on a card does the card bearer receive the immediate notification that the purchase cannot be processed. So, how many credit card processing players are there otherwise? The answer may surprise you. Almost a Full Baseball…

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Credit Card Processing FAQs

Credit Card FAQ’s

What kind of technology do I need in order to accept credit cards? The type of technology needed depends on what kind of method you need to use for your transactions. For a business that does transactions at a physical location, but wants to be able to connect different locations or registers to each other, a point-of-sale (POS) system would be best. A POS system contains the entire checkout terminal, which can include a cash register, card reader, scanner, etc. Mobile credit card processors are available for businesses that do transactions in many various locations and simply include either a dongle or an app to enable you to accept credit cards from devices such as tablets or phones. Another technology possibility is the credit card terminal, which is best for businesses that only need to accept payments and nothing else. Lastly, for online businesses, there are e-commerce solutions that allow…

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Understanding Credit Card Statement Fees

Merchant 101: Understanding Credit Card Statement Fees

If you’re like many merchants, your credit card statement can feel like it’s written in a foreign language. However, credit card processing is one of your largest business expenses, so it’s important to know what these fees mean, and that you’re being charged fairly. Tidal is committed to complete transparency, so we’ll explain the common fees here and tell you when to beware. We’ll also give you a free, no-obligation statement analysis so you can see how Tidal helps you save. Card Association Fees These are standard fees charged by each card association. They are “set in stone” and should be passed through to you with no additional markup. Remember, there is nothing a processor can do to save you money on these fees. If they’re charging you less, they’re making up the difference somewhere else. Since many of these fees are just a fraction of a penny, some processors…

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