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The Price to Pay for Credit Card Processing: What is Best for Your Startup?

by / ⠀Startup Advice / August 8, 2010

Credit card processing is unnecessarily complicated, evident by most business owners’ frustration with processors and dealing with them.  Luckily, a basic understanding of the different price structures processors use can help your business get the best deal and keep more of your hard earned money: There are three (basic) types of pricing structures: Tiered Pricing-Transactions are delegated into tiers such as “qualified” or “mid-qualified” tiers depending on what…

How to Reduce the Risk of Chargebacks at Your Startup

by / ⠀Startup Advice / July 23, 2010

Many startups have nightmares about chargebacks: when a customer disputes a charge on their credit card, usually due to fraud concerns. The good news is that although chargebacks can be annoying, they are usually a very small percentage total transaction volume—0.015%-0.025% of total credit and debit transaction volume is charged back. Here are some useful tips for dealing with chargebacks: Be Transparent Since chargebacks occur due to customers’…

Accepting Credit Cards as a Small Business

by / ⠀Startup Advice / April 13, 2010

Entrepreneurs need to cover all of their bases, and one often overlooked base is payment processing. If your business plans to accept credit cards as payment at some point, you will need to choose a merchant account provider to process credit cards. Unfortunately,  choosing a credit card processor tends to be a long, frustrating, and inefficient process…and many businesses get ripped off along the way. Here are some…

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