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Course Details

Minimizing Credit Card Processing Fees

Webinar: ID# 1020234
Recorded CD
Qty:
About This Course:
Nearly every merchant today must accept credit cards to run a successful business.

That said, few merchants, if any, have ever been "trained" on how to open a merchant account. Since all merchant account agreements are a minimum of three years, making a mistake in this area of a merchant's business will not only be costly, it will create unnecessary pain for the business owner.

This webinar provides vital and enlightening information to help new merchants open a merchant account, and will help merchants who already have a merchant account and are thinking about switching suppliers to look for ways to decrease costs and to protect themselves from credit card scams.

Agenda

Payment Processing 101 and Definitions
The Transaction Cycle
Why Merchants Should Accept Credit Cards
Tips on Opening a Merchant Account to Avoid Hidden or Costly Fees
  • Hidden Costs of Payment Processing
  • What to Watch for in Your Merchant Account Agreement
  • Tech Support and Customer Service and Why They Are Important
What Solutions/Technology Should Your Business Consider to Control Processing Cost
  • Dual Mode Credit Card Terminals
  • EMV and Apple Pay
  • POS Systems
  • Virtual Terminals; Wireless Terminals
  • Smart Phone Solutions
  • Lease vs. Purchase
Pricing and How Interchange Works
  • Who Makes Money on Your Merchant Account?
  • Factors That Drive Interchange Costs
  • Components of Credit Card Processing Fees
  • How to Determine Real Cost for Accepting Credit Cards
  • Managing Processing Costs
  • Interchange Plus vs. Tiered Pricing
  • How and Why Downgrades Occur
  • Best Practices in Downgrade Avoidance; Preventing Charge Backs
How to Reduce Risk and Fraud
  • Tips on "Card Present" Transactions
  • Tips on "Card Not Present" Transactions
  • Additional Items to Consider
Becoming PCI Compliant
  • What Is PCI; What's Required
  • Potential Fines; Real Case Study
Other Payment Solutions to Consider
  • Gift and Loyalty Cards
  • Check Programs
  • Electronic Secure Invoicing
  • Recur Pay; Advance Cash
About The Presenter

Niles D. Crum
  • President and owner of NDC Payment Solutions
  • Entered the payment industry in April 2007
  • Earned “Rookie of the Year” for PayPros, an industry leading company in Payment Processing
  • Known as an interchange expert in the payments industry
  • Has boarded over 400 merchants personally and mentors sales agents across the U.S.
  • Processor for IFDA (The International Foodservice Distributor Association); The Proponent Group, whose members include the who’s who in golf instruction including Mike Bender PGA Teacher of the Year); several buying groups and merchants across the U.S.
  • Quoted several times in the Greensheet, the industry’s top trade publication
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Minimizing Credit Card Processing Fees
Available on CD format
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Course Details
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