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The remaining transaction fee that is not associated with profit goes to cover the networks built internally that connect with Visa/Mastercard.

I have had some conflicts about what I am about to do because I know it is not going to make me very popular with some of the other vendors on this forum, but I have decided to push forward because of some of the recent posts about credit card processing and the fee structure associated with...

It shouldn’t take any longer than 48 hours to get your deposits unless it is over the weekend. The way the process works is 24 hours to be verified and moved from the card holders account and 24 hours for your bank to verify and receive the transfer. Some processing companies are going to next...

How about, pay $10.00 for a gift card that has a value of $15.00 $15.00 = $20.00 $20.00 = $25.00 etc

Let me pose a question to you as a business owners. Do you require your employees to follow your rules? Of course you do, so that, hopefully you never get sued for someone being burned by an oven, a patron slipping on a wet floor. You all do that to CYA. Rules are in place to protect all...

Per the card associations rule you can’t assess a surcharge for a Visa/MC transaction even if it is a debit transaction. The first non-compliance notice is a call or visit from your representative. The second notification is by mail, and the third is a notification of the fine of up to $5000.00...

RobT, Absolutely, I believe the customer should be able to get their money back immediately, but like you, what I believe doesn’t matter much to anyone. The processors have started the “zero” pre auth, but the release of funds after the authorization/refund process still takes much longer than...

While this information may not help anyone, it is good information to know. The debit card issuers ( the bank that actually issued the card, sets the pre-auth limit to be added to the transaction. It has nothing to do with the merchant, unfortunately, the merchant takes the heat for the...

There are many other options for gift card processing, the real question is are you processing with a POS system? (if so it will be your most cost effective avenue) or are you processing with a stand alone credit card terminal, ( in this case you can process with any provider as long as you have...

Cost Plus is the only way to go for any food establishment. Contact me if you would like a quote for your business. 😃 Best of Luck

For those of you who would like to hear Kristi’s story, click on the link below, go to show highlights, then click on Kristi’s name. http://www.thedoctorstv.com/main/show_page/292

Just wanted to thank all of you who have emailed me about my daughter who needs a heart transplant! She is still waiting but is stable now. She currently has 2 external VAD (ventricular assist devices) that pump her blood. We are still hoping a heart will become available soon! Your thoughts...

Would be glad to help you get set up with interchange pass through plus. Thanks for the opportunity!

I need to apologize to everyone who has been waiting for the webinar on credit card rates. On June 5, my daughter Kristi was air lifted to the Mayo Hospital in Phoenix. She was diagnosed with Myocarditis, and now needs a heart transplant. I have been with her since that time. I have asked Carl...

I am putting together a webinar format for the end of the month. I will let you know how to dial in to attend the session. We like to limit attendance to 10-12, so everyone can ask questions. Once I have a firm date and time I will post it on the forum. Thanks for your interest.

I would never recommend using only an ATM at a food service business. The fees would drive business away, not bring it in. The argument for having an ATM is to create an additional revenue stream for the business. Bars, for instance, do well with ATM’s because of impulse cash transactions. This...

Independent ATM owners (those found in local businesses) usually have around $2000 in them. Bank ATM machines and those at large retailers (Walmart) have much more. The most important questions to answer when considering an ATM purchase is what will your ROI be. ATM’s have come down dramatically...

I was wondering if anyone would be interested in a webinar about interchange pass through? It might help you understand what your statements really mean.

paul7979: The .0925% and the 0.95% is the “dues and assessments” charged by Visa and MasterCard. When you have interchange pass through plus pricing, your statement will show all the different categories of card types your business takes and the interchange (percentage) Visa/MC charges for...

There is no reason any restaurant (pizza or otherwise) should be on a three or four tier pricing plan. Every restaurant should be on cost plus/interchange plus pricing. There are many companies that offer fair pricing and good service (including me) for restaurant owners.