5 Reasons Why You Should Think About Switching Your Credit Card Payment Processor

 

5 Reasons Why You Should Think About Switching Your Credit Card Payment Processor

By: Passive Income Expert & Serial Entrepreneur W. K. Little 

So when is the right time to switch payment processors?

Is now the right time to switch payment processors?

Cash or credit? Statistically, most would say credit.

In fact, 80% of consumers prefer spending with a card over cash. Specifically, the breakdown is 54% who prefer spending with debit cards and 26% who prefer spending with credit cards. Point being, accepting card payments is a fundamental of business.

Accepting card payments is a necessity. Paying for credit card processing is a cost of doing business.

But what you're getting to find out is there's ways to TOTALLY ELIMINATE YOUR BUSINESSES CERDIT CARD PROCESSING FEES!

It’s easy to become frustrated with the fees of a merchant account. It’s just as easy to feel tied down to a provider.

RELATED: 6 Signs Your Business Needs To Switch Credit Card Processors IMMEDIATELY!

You want to walk away. But you can’t. You need to accept card payments. You don’t have the bandwidth to make a switch. Plus, you signed a lengthy contract that doesn’t expire for … a while.

NOTE: Wholesale Payments will help your Business to pay off your contract if you meet certain criteria

Can you keep a secret? Because we can’t

We’re not great at keeping secrets. So, here’s the truth: You have options.

As a Payment Processor Provider ourselves, we know the ins and outs of the industry. We not only know what the competition is doing. We also know that you deserve better.

Woah, slow down! Do the words payment processor have you heading for the hills?

Hang with us. We’re not like the others. We don’t try to be.

Hear it from me, as a Credit Card Processing Industry Expert with OVER 30 Years In the Business.

My goal was to partner  with the payment processor I wanted to work with. No lengthy contracts. No high rates.

No locked-in fee structures, a High Quality Industry Leading Company  like Wholesale Payments.

But, that’s just us. Many other providers take advantage of their merchants.

You deserve better. Here are five signs you should switch your payment processor.

1. Sky-high processing rates are stealing your profits

Processing rates always on the rise? Seeing a cost increase on a monthly account statement is the No. 1 reason merchants leave their current provider.

Providers are notorious for advertising low “introductory” rates and fees, then raising them after you’ve signed in to a term contract. You know this as the classic “bait-and-switch.” This practice makes it difficult, if not impossible, to close your account.

Interchange fees make up the most of the processing costs, and they’re not set in stone. Credit card companies set interchange fees, or “swipe fees,” and update them twice a year. Typically, these rates rise over time. But some providers will use this as an excuse to markup their fees as well.

RELATED: Are You With The Right Credit Card Processor? <===

Extra management and account fees could be burdening your business. Your business may have reached a threshold where it makes sense to consider a switch.

WholesalePayments can help with a price quote to help you determine if you’re ready for a switch. We’re so confident in ourselves that we’ll give you a $500 Visa gift card if we can’t beat your current rate.

2. Extra fees hiding around the corner

At first glance, the advertised rate looked pretty good. But then account statements start rolling in and you realize you’re being nickel and dimed with loads of fees.

Sadly, we see this with many providers. Interchange fees make up the majority of credit card processing costs. But your account statement includes a lot more than just interchange fees.

It’s as if they’re making up the charges as they go. Unpredictable statements are headache-inducing.

RELATED: The Top 7 Ways To Lower Your Credit Card Processing Fees

They’re no way to do business.

Wholesale Payments NEVER charges junk fee's like this with their Industry Leading Cash Discount Program!

Payment processors are notorious for tacking on fees for their services. Even worse, they don’t always disclose them in the sales process. Some fees are fair. Others are not as reasonable, and may not be tied to any service provided to your business. It’s important to note that no fees are truly “hidden.” Any potential fee charged is spelled out in the contract.

* Below are The Highlights of Wholesale Payments Cash Discount Program & The Benefits For Your Business...ANY/EVERY Business!!!
 
• 0% Credit Card Processing Cost
• $0 Transaction Fee
• Free State-of-the-Art Equipment
• No Hidden Fees
• $45 Flat Fee Per Month  

NOTE: See Video & Attachments Below

But it’s likely that these were hiding in a lengthy contract document that was too time-consuming to comb through.  Some fees you may have noticed but thought nothing of. But now, they’re a problem.

Tell me if any of these sound familiar.

• Set-up fee
• Cancellation fee
• Monthly minimum fee
• Monthly equipment fee

These fees may add up to hundreds or even thousands of dollars a year. You need a credit card terminal to process transactions, and they’re expensive. But if unnecessary fees are ballooning your account statement, it may be a sign you need to switch.

Wholesale Payments will put together a comprehensive statement to show you what you can expect.

We will review it with you line by line, so you know every dollar.

No surprises. That’s business the right way.

3. Compatibility issues slow you down

Incompatible equipment shouldn’t interrupt your bottom line.

Compatibility issues can prevent you from realizing your full potential.

In today’s climate, e-commerce and contactless payments are the new norm. You don’t want to have to turn down transactions because you can’t process them.

In most cases, providers identify and correct compatibility issues early. But there’s a chance your provider isn’t keeping up with the times. After all, it’s work to update equipment aptly.

In 2020, the pandemic shifted many purchasing preferences. It’s not just card payments that are the norm. Contactless payments have grown to mammoth popularity.

According to a January survey, 75% of Millennials said they preferred contactless payments. Another 70% of Gen Z shoppers said they liked it, as well. Some 65% Gen Z respondents even said contactless payments were a “must have” for merchants.

RELATED: What Is a Cash Discount Program and How It Can Help Your Business 

We’re not saying you need to spring into action based on every trend. But you deserve the option to.

Updates lagging? It may be a sign you’re due for a switch.

Wholesale Payments can help put the right credit card processing equipment in your hands. Plus, we stay up on the latest updates. We’re always up on industry trends. You never miss a beat.

4. Customer service always on hold

Few consider the importance of good customer service until they need to use it. Sadly, not all customer service is created equal. Some providers tend to focus more on acquiring new accounts than they do taking care of the ones they have.

Typical is to outsource customer service operations. Or worse, replace it with an automated answering machine. Neither is the most helpful.

There are tell-tale signs that a business has good customer service support.

RELATED: Your Business Doesn't Have to Pay Credit Card Fees Any More and Probably Shouldn't

Things to look for include an in-house support option with a designated point of contact for issues. Another is reputation. Businesses, like Wholesale Payments, use Trustpilot for customers to leave reviews. The Better Business Bureau is another worth checking out.

Point being, you deserve on-site support and a person who knows your business. Wholesale Payments has (human) support that can work with you to resolve any issues or questions.

Our support team is local, in SEVERAL Areas of The Unite Sates, and can provide comprehensive support.

5. Lengthy contracts have you locked in

Lengthy contract terms are extremely unpopular. To get a good introductory rate, that often means signing a two or three-year contract. You did, and now you feel stuck.

Just because you signed on the dotted line doesn’t mean you are out of options. It still may be time to think about switching providers. Closing your account is tricky, but it can be done. You may need to time it so your account closes before a renewal takes effect. But it’s possible, and it may be simpler than you think.

RELATED: $0 Credit Card Processing Fee's???- Check Your Statement For These 4 Terms

Penalties for canceling a contract are hefty. We’re talking thousands of dollars. Even worse, providers who tack on significant fees are often the ones that charge early termination fees. You may research a new provider who may be willing to cover some or all of your termination fees.

It’s important you get the help you need. Don’t feel stuck. Accept help.

Wholesale Payments will be transparent with you on your contract agreement. We won’t let you sign anything you don’t fully understand. Oh, and cancellation fees? Not our thing. We’re so confident you’ll enjoy working with us, we ditched cancellation fees.

We may be able to help you out of your current contract. Let us work with you.

Up your payment processor and your Jenga game

Listen, we get it.

It’s basic human nature to plan for the perfect moment. But there may never be a perfect moment to make the switch. Too many elements are at play. Switching might feel stressful, like pulling a Jenga block. One false move and the whole tower collapses all over the floor. In reality, it’s nothing like that.

Switching providers to A High Quality Provider like Wholesale Payments is a lot less of a change than you might think. It’s a quick and simple process. Plus, providers like Wholesale Payments do a majority of the work for you. Wipe the sweat from your brow and pull that Jenga block with confidence.

We know you might still be on the fence.

Sure, you have frustrations with your current payment processor. But it works. Plus, it’s synced up with your inventory system. Swapping providers would disrupt current flow of operations, wouldn’t it?

Not in the least bit.

Our swaps are seamless — unlike Indiana Jones’ idol swap in Raiders of the Lost Ark. You won’t be chased by a giant boulder.

Wholesale Payments integrates with most every inventory system. Our systems integrate with QuickBooks, Shopify, Woo Commerce, and Aloha, just to name a few. And, we do that work for you.

So, when is the right time to switch providers?

There’s no time like the present.

Let Wholesale Payments show you how.

Why Choose Wholesale Payments Cash Discount Program?

Wholesale Payments Cash Discount Program was created to help small business owners take control of their processing costs. 

We are working to build transparency in this industry by educating business owners. Their Cash Discount Program with it's Flat $45/mo Fee, AND NO HIDDEN FEES is easy to use!

Learn More About Wholesale Payments Cash Discount Program

If you are interested in learning more about  Wholesale Payments Cash Discount Program with it's Flat $45/mo Fee, and NO HIDDEN FEES  , contact them today!

You can also visit THIS LINK to talk to a Highly  Trained Specialist who can help you go over not only your statements but your entire solution!

If you are interested in learning more about the Credit Card Processing Industry and which processing solution is right for you AND Your Business, simply call 772-237-1017 (24 Hour Direct Line to Leave a Detailed Message) or by email by clicking HERE NOW!

PS - Have questions, Inbox me on Facebook

Connect with me on Facebook

Like My Fan Page on Facebook

Subscribe to my Youtube channel

Add me to your circle on Google+

And

Connect with me on LinkedIn

 

The Top 7 Ways To Lower Your Credit Card Processing Fees

The Top 7 Ways To Lower Your Credit Card Processing Fees

By: Passive Income Expert & Serial Entrepreneur W. K. Little 

If there is one thing that we learned from 2020, it's that life is filled with uncertainty. The global pandemic greatly impacted the economy and consumer behaviors, affecting businesses both large and small. Whether workspaces have been rearranged to ensure employee safety or websites completely revamped to scale for massive growth in e-commerce sales, most businesses coped with a constantly changing environment.

Consequently, many businesses were forced to quickly cut costs to offset lost revenues while also making significant investments to comply with local laws surrounding the pandemic.

With the start of the new year, now is the perfect time to find long-term solutions to lower costs for your business. A great place to start, without greatly sacrificing the customer experience, is by taking a look at your credit card processing solution and all the associated fees.

As a Leading Credit Card Processing Expert, here are my top action items designed to help your business save money when accepting credit card payments this year and beyond:

1. Institute A Proven Cash Discount Program

The easiest way to avoid paying credit card processing fees is by passing them on to your customer. There are several rules regarding surcharging that merchants must follow, so compliance is key. For example, merchants cannot surcharge a debit or prepaid card, which means your customer has the option to avoid the surcharge if they wish.

Furthermore, not all states allow surcharging, so due diligence – whether it's thorough research, implementing specialized software or something else – is needed to help you comply. As businesses try to cut down on costs and more states ease up on their surcharging laws, expect to see more merchants pass their processing fees on to consumers in the future. 

Related:  $0 Credit Card Fees! - Your Business Doesn't Have to Pay Credit Card Fees Any More and Probably Shouldn't

2. Capture More Customer Data

On e-commerce and phone-based transactions, capture the cardholder's full billing address to avoid more expensive interchange costs, which comprise a large part of your processing fees. 

Interchange fees are nonnegotiable fees paid to card-issuing banks for processing your customers' debit or credit cards.

Explaining the finer details of interchange is a full article unto itself. At a basic level, the biggest takeaway for merchants on interchange-plus or tiered pricing models is the more information obtained at checkout will minimize the interchange fee assessed.

If you sell to other businesses or the government, be sure to submit level two and level three data, such as the invoice number, your Tax ID, the item commodity code and all additional relevant information because this can reduce interchange costs by over 20%. In the case of one network, Visa, a transaction with only basic info provided – a nonqualified transaction – could have a fee as high as 2.95%, whereas providing level-two data could bring the fee down to 2.05%. Other networks may have variances in interchange costs.

And lets not forget that Surcharges ARE ILLEGAL. Whereas Cash Discount Programs, Done Correctly, ARE TOTALLY COMPLIANT!!!

Aside from processing this information manually, there are payment gateways that can automate these fields to help smooth out the process of qualifying at the lowest possible interchange rate on transactions.

3. Swipe Whenever Possible

Face-to-face transactions are less risky for merchants and card-issuing banks and therefore have lower interchange costs. Encouraging customers to pay in-person and physically swipe, or now dip, their card, versus online or over the phone, will allow you to cut down on costs. Swiped sales using EMV (chip) are also harder to dispute, so merchants have more protection against chargebacks. 

4. Offer ACH Payments

All merchants should consider offering ACH payments, or electronic bank-to-bank transfers, because they are faster and more reliable than physical checks.

Additionally, they do not have interchange fees like debit and credit cards, making them considerably less expensive for businesses to accept. 

5. Become PCI Compliant

Payment Card Industry (PCI) Data Security Standard is a set of rules designed to protect sensitive credit card data. Processors often give new merchants a set amount of time to become PCI compliant, generally between 60 and 90 days. After this time period, processors charge their merchants a monthly noncompliance fee.

Making sure that your business is PCI compliant ensures you avoid extra fees and reduces the risk of cyberthreats. As an added bonus, many PCI providers offer breach protection – sometimes as high as $100,000 – which acts as an insurance policy in the event your customer credit card data is compromised. 

NOTE:  ALL WHOLESALE PAYMENTS CLIENTS RECEIVE FREE PCI COMPLIANCE Done For You!!!

6. Check Your Statements

One of the simplest ways to reduce monthly fees is to routinely make time to review your statement. Unfortunately, many processors gradually increase their fees over time, especially at the end of the year. Pricing changes are always indicated on your statement yet are often overlooked by business owners.

RELATED: $0 Credit Card Processing Fee's???- Check Your Statement For These 4 Terms

Catching these changes gives you the opportunity to negotiate terms with your current processor or find another payment provider better suited for your unique business needs. 

7. Change Your Processor

It never hurts to ask! Your payment processor knows the nuanced details of your fee schedule. If you are looking to minimize costs and unsure where to begin, start by scheduling a 3rd Party Expert Review of Your Statement. They will be able to offer you the best advice specific to your business needs and the current state of your industry.

Whether it is a creative cost saver or a simple rate reduction , you have nothing to lose by making that friendly phone call.

For example, Cash Discounting DONE CORRECTLY can help struggling Business Owners KEEP a lot more of their hard earned profits!

Once businesses are set up to process payments, it is easy to put it on autopay like the internet bill and forget about it until there’s a problem. By taking a few moments to look at your processing fees, you’re on your way to valuable savings for your business. Like the promise of a new year, it's a positive step in the right direction for business growth.

As THE Industry Leader Wholesale Payments is here to help you determine if you are working with the right people by asking yourself these simple questions.

If you are interested in learning more about the Credit Card Processing Industry and which processing solution is right for you AND Your Business, simply call 772-237-1017 (24 Hour Direct Line to Leave a Detailed Message) or by email by clicking HERE NOW!

The Reason Some People Will NEVER Succeed (& Others ALWAYS Will)

 

By: Passive Income Expert & North America Launch Team Leader W.K.Little

So what's the number one reason that some people succeed and others don’t, in any economy and in any environment?

We are going to dig deep into this question. We all know many people who, in multiple different environments and different situations, always seem to find a way to come out on top and win. And yet we know other people who always seem to find a roadblock or a problem or an issue in everything that they do.


RELATED: The Proof That You Need Your Own Home Based Business in 2021 AND Beyond!

So, what causes this to happen? Why is it some people are ultra-successful and other people find nothing but fault and failure?

What Are You Focused On?

Remember that 70% of the things that go through our head are negative self-talk. When we watch the news, when we listen to other people, when we look at the economy, sometimes we can only find what’s wrong. We will find any reason why something won’t work and why something is going to fail.

RELATED: Who Stole the American Dream II: The Book Your Boss Still Doesn't Want You to Read!

But if you look at the people who succeed, they’re always searching for the solution. They’re not looking at the problem.

I always tell people that when you hit a problem, it’s like hitting a bump in the road when you’re driving your car. It is now behind you in the rearview mirror. If you try driving your car with your rearview mirror, you are going to crash, because you’re focused on the problem. The windshield in front of you is the solution. Start focusing on the solution and what you can do to fix the situation.

========

Additional Resources: 

=> The Top 10 Reasons Why You Must Work for Yourself 

=>The Top 5 Reasons Why Passive Income Is So Important

=> The Busy Person's Guide to Permanent Weight Loss

   =====================

The problem has already happened, and you cannot change what happened in the past. You can, however, change where you’re going in the future. That’s why the windshield is so big, and the rearview mirror is so small!

See the Possibilities

For example, when considering a deal, there are some people who will look at it and say, “Wow, I could make so much money. I see the potential. I see the possibilities. I see all the things that will make this deal a success.”

RELATED: The10 Reasons Why Passive Income Is So Important For You AND Your Family

Yet there are other people who will look at this same deal and they will tell you why you shouldn’t buy it, why the numbers don’t work, and what all the problems are going to be with it—basically talking themselves (and maybe you) out of buying the deal.

RELATED: Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the Life-Changing Science of Behavioral Economic

Both of you are right. It just depends on how you’re looking at it all, what your strategy is, and what you are going to make out of the situation.

Make sure that when you are making decisions, you’re making them based on facts and data—not emotions. And always be focused on the solution, not the problem.

The Bottom Line

It takes just as much energy, just as much thought, to think positively as it does negatively. But your brain will never identify a positive situation or solution if you’re always telling yourself what could go wrong. And if you think positively and you think toward solutions, you’ll start finding opportunities that you would never find before.

Now, don’t get me wrong, you do need to be realistic and you do need to make sure that you’re protecting yourself. However, don’t do this to the extent of always talking about the worst-case scenario and never looking at what the possible solutions are.

You’ve got to really think about how you can become better by opening up your mind and thinking of what could happen, possibly, rather than all the negative things that you think might potentially happen.

In other words . . ., creating Passive Income/Real Estate Investing using Business Models like this one => https://Bit.ly/BestBigMoneySideGig & this one=> https://Bit.ly/UseOurMoneyToBuyRealEstate are 2 of the best ways to improve your financial situation REALLY QUICKLY!!!

NOTE: Although educating yourself is beneficial, it’s also important to understand that to make the best real estate investment decisions or building Passive Income Streams you likely will need an Advisor or Successful Mentor who can add value with their niche expertise and vast array of resources.

So by now you're probably ready to get a clearer picture of how to build wealth quickly , easily and without wasting time, effort, energy or money? 

If that's you, we've got you covered...

If you want us to help you set yourself up for the greatest chance of creating massive Passive Income Success QUICKLY, then simply  become a Partner with us in The Best Big Money Side Gig to Hit North America in 20Years by clicking HERE NOW!

PS - Have questions, Inbox me on Facebook

Connect with me on Facebook

Like My Fan Page on Facebook

Subscribe to my Youtube channel

Add me to your circle on Google+

And

Connect with me on LinkedIn