Accepting credit cards is critical to most businesses these days. I though that I would never see the day that fast food restaurants with their smaller average ticket size would accept credit cards. Now, it is a very common thing to see all kinds of retailers, flee market vendors and even dollar store offer debit and credit cards as a form of accepted payments.
However, merchants beware, you may be accepting credit cards thinking that you are being bill a low rate of but unbeknown to most is an additional charge. I am not talking about the 20 or 25 cent transaction fee but a charge that you are hit with if you do not batch out every day. In other words, if a merchant does not batch out daily before 12:00 am, the will be hit with an additional 2% or more per item in addition to the current rate. Most processors will not tell the merchant about the necessity of batching out daily because they make 30% of their profit from this additional charge. So, you will want to batch out daily in order to prevent taking that charge. Better yet, have your processor to program your terminal to batch out daily.
Daniel Harris, CCDA, CCNA, CCNP, CCVP, MCSE, MCDBA, Oracle Developer
Daniel.harris@HarbridgeTechnologies.com
www.HarbridgeTechnologies.com
Daniel Harris is the marketing director for the Harbridge Technologies Group, LLC. He has been an IT professional for over a decade and has vast experience in business consulting and systems integrations. Mr. Harris has over eleven industry certifications He is a graduate of the
