Category: CREDIT CARD PROCESSING
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How Long Stripe Can Hold Funds and How to Get Your Money Back
Stripe is notorious for holding merchant funds, freezing accounts, and even terminating accounts. That means no money in, no money out, and no customers. In some cases, Stripe holds funds up to 180 days with weekly emails coming in stating, “Stripe is holding your funds for 90 days.” But wait, didn’t we just say Stripe…
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Why Credit Card Processing Fees Are So High and How To Lower Them
CREDIT CARD PROCESSING, Credit Card Processing Fees, Credit Card Surcharges, Merchant Account Fees, MERCHANT PRICING, MERCHANT SERVICES, PAYMENT PROCESSING, PAYMENTSAre you shocked by how much your credit card processor charges each month? You’re not alone. Credit card processing fees have become a big business, with companies charging upwards of 3% of each transaction. While it may seem like you’re getting ripped off, there are ways to negotiate these fees and bring them down. In…
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What Is a Payment Ecosystem? Explained
Every merchant wants to know how to get paid properly, and yet this is one of the least understood areas of business. Payment processing is an ecosystem. This means there is a complex and intricate set of processes that need to work together in order for your customers to pay you. Whether you’re an individual…
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Credit Card Surcharges: Are They Legal?
Today’s credit card holders are treated like royalty. While some card issuers have their hands in the till by charging high interest rates, some merchants also take advantage of customers by adding exorbitant fees to their purchases. For example, retailers might charge a convenience fee or a premium pricing fee to cover the costs of…
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Find, Change, and Optimize Your Merchant Category Code
MCC codes (Merchant Category Codes) are assigned to every merchant upon the approval of their merchant account application. As important as these codes are, they aren’t always readily apparent, leaving merchants in the dark. Each MCC code comes with varying rates, fees, benefits, and drawbacks. It’s not always easy selecting the best MCC for your…
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