Payment Processing 101 for Small Businesses

 

Think you know everything about payment processing? Want to learn how to save your business time and money with best practices and new solutions? Join NFIB Member Benefit provider, Solveras Payment Solutions, as they present the “Payment Processing 101 for Small Businesses” Webinar. It’s an interesting and informative Webinar that provides small business owners the tools they need to make educated decisions about payment processing. Learn about best practices, how processors determine credit card rates, and new payment options that can save your business time and money.

Watch the recording above to learn everything you need to know about payment processing for your small business.
Payment processing for small business - download the overview (PDF)

Watch and you will learn:

  • Overview of the Interchange pricing system
  • How to get the best rates for payment processing
  • New technologies and alternate payment options
        that save money
  • Top Ten Questions Any Merchant Should Ask
    (Handout available below)

 

 

Top 10 Questions Merchants Should Ask Their Payment Processors

1. Do you collect fees on a daily basis?

Avoid daily reconciliation that will cost you money. Solveras uses simplified, all-inclusive monthly billing. That means that throughout the month, the full amount of your credit card batches will be deposited to your local bank account.
 

Download this top ten list (PDF)2. Will I be charged a lower rate on CHECK CARD transactions?

Many processors charge the same rate for both check and credit cards – even though check cards carry a lower rate from Visa® and MasterCard®. Solveras is different. We typically have a lower rate on check card transactions for retail businesses, even without requiring a PIN.
 

3. Have I received all of your “terms and conditions?”

Watch out for hidden fees and termination clauses that could cost you money. Many processors do not disclose their “Terms and Conditions” until after you sign their agreement. Solveras believes in full disclosure and provides you all information up front so there are no surprises!
 

4. Why are you telling me that my equipment is obsolete?

Many processors will try and tell you that you must upgrade your equipment. This expense is not always necessary. Solveras will always work to make use of your current equipment.
 

5. Is there a term contract with an early termination fee?

Many processors will quote you a very low rate to attract your business. But their long-term contract and costly contract termination fees allow them to raise your rates and fees. Solveras never charges for a contract termination as long as the customer completes a quick customer service evaluation prior to leaving.
 

6. How do you price REWARD, KEY-ENTERED and CORPORATE cards?

Many processors move all of these types of transactions to a higher rate costing your business real money. Solveras is different. Learn how we price these transactions to save you money!
 

7. What will my statement look like?

Always request a sample statement from your representative. Always. Solveras provides real value to their customers with a monthly merchant statement that is simple and easy-to-read.
 

8. When will I be billed for downgraded transactions?

“Back-billed fees can be confusing making it difficult to understand what you are paying. Solveras bills all of your
transactional and monthly fees into a collective, lump sum settlement at the beginning of each month. Easy!
 

9. Will a PIN pad save me money?

Many processors want to convince you that PIN pad saves you money. Solveras wants you to know that a PIN pad isn’t always necessary if the average sale is less than $25 or if your employees consistently ask for the PIN.
 

10. Are the other services you’re offering exclusive? Or might they be available with my current provider?

Solveras offers a wide range of payment services, including check guarantee and conversion, gift and loyalty, internet processing and API interfaces, PIN-based debit capability, mobile/wireless solutions and check recovery.

Webinar Details

Ron DemmansRecorded Wed., Oct. 19
12 PM ET (9 AM PT)

Presenter:
Kathleen Ervin, Vice President of Marketing
Ron Demmans, Director of Sales Administration
Solveras Payment Solutions

Audience Level: All levels of independent business operation

Who Should Attend: Business owners, CFOs, HR managers, Accountants

Key Take-Aways:

About Solveras

Kathleen Ervin

Solveras Payment Solutions provides complete electronic payment services to over 15,000 small businesses, medical practices, wholesalers, distributors and software providers throughout the country. Products and services include software and processing support for MasterCard®, VISA®, American Express®, and Discover® credit card transactions, debit card processing, Internet-based virtual terminal systems, electronic check services and electronic gift and loyalty cards.

Find tips, videos, infographics and other tools to help your business.
Become a member. 

join nfiB NOW 

News

State Issues


Choose Your State

Foundations

YEF Foundation Research Center Legal Foundation

Member Benefits