Here is a list of questions we have learned to ask when shopping for credit card processing:
1. Who are the gateway and processing companies?
2. What are the setup fees?
3. What is the monthly fee?
4. What is the statement fee and does it increase with low volume?
5. What is the discount [...]
The Reseller
Resellers make their money from software you probably don’t need, monthly software “maintenance” fees, card processing supplies, card processing machines, and probably commissions from the gateway and processing companies they represent.
Most resellers charge a “setup” fee. I don’t know if this is a reseller charge, a gateway charge or a processor charge. [...]
In the world of wholesale and retail, there is an alternate universe. This is where credit card processing resides. Right alongside cell phone service. We just recently switched our processing services. It was ugly. I resolved to finally demystify credit card processing for ourselves, and vowed to share the information with everyone I could as [...]
