How to read a credit card processing statement Credit card processing statements can be confusing. For starters, there are no standards or guidelines that regulate them, so merchant statements can vary from one processor to the next. This lack of regulation enables processing companies to make your statement difficult to read on purpose to hide […]
5 Types of Retail Fraud and How to Prevent Them Retail fraud is on the rise. CNBC reported that last year the “level of fraud as a percentage of retailers’ revenues has climbed to 1.58 percent year to date from 1.47 percent,” compared to 2016. Not only that, but according to a 2018 survey by […]
5 Ways to Cut Costs by Banking Smarter All business owners could use more money, but how do we make the most of what we have? One way to save some cash is to rethink the way you use your bank. Banks are more than just storage units for your money, and whether it’s renegotiating […]
A Closer Look at the Shopping Preferences Some of Today’s Youngest Consumers [Gen Z] The influence and buying power’s today’s teens and young adults — aka Gen Z — are rapidly growing. Gen Z (born after the year 2000), is expected to become the biggest consumer generation by the year 2020 and members of this […]
Everything You Need to Know About Interchange-Plus Pricing If you’re shopping around for a credit card processor then you’ve likely come across interchange-plus pricing. This is a term that’s used to describe a pricing model in which the credit card processor breaks down the fees that go to the bank or credit card issuer and […]
Credit Card Machines 101: Understanding Payment Terminals (and How to Choose the Right One) Whether you’re a new entrepreneur looking to set up your payment equipment for the first time, or a seasoned business owner shopping around for a new solution, having the right credit machine is critical. Aside from actually enabling to accept credit […]
Tennessee Supports Transparency and so does Payment Depot Tennessee House Bill 547 requires credit card processors to include the aggregate fee percentage on monthly Statements. At Payment Depot, We love this idea! Our sales team always advises potential members to find their effective rate when shopping around. To calculate this rate, pull out your old […]
Is Square a Good Credit Card Processor for Every Business? Square reported earnings this week and one thing from the report really caught my eye. They reported that a higher percentage of revenue is coming from large merchants. Square offers a simple pricing structure of 2.75% per transaction (or 3.5% and $0.30 if Keyed In). […]
An Honest Look at What People are Saying About Payment Depot Why do Payment Depot’s reviews matter? Our members mean everything to us., so we love to read their reviews. Members are the lifeblood of our company, so good or bad, we want to hear what members’ are saying. Our goal is to provide the best […]
When we created Payment Depot one of our first decisions was to have no cancellation fees for our members. If someone is unhappy for any reason they should be able to cancel their account and find another merchant processor. That means that we have to be transparent with our pricing and always provide the best service in […]
Never Lease a Credit Card Terminal Would you pay $4800 for a $300 terminal? One merchant that we spoke to did exactly that. She had a $99/mo lease for 48 months on a terminal that could have been purchased for under $300. Terminal leases are great for processors and horrible for merchants. You can guarantee that […]
What is Level 2 Credit Card Processing? Since we pass through the direct rates from the card brands to our members, it is in our best interest and yours to get the lowest possible rates. If you are a B2B merchant or you accept a lot of corporate and purchasing cards you should be entering […]
How to Swipe Credit Cards Using the iPhone 7 Yesterday, Apple announced that the iPhone 7 no longer has the 3.5mm headphone jack, which has been the primary way to connect a mobile card reader to phones and tablets. We have been getting calls and emails from members asking how this will impact them so I wanted to […]
Don’t Settle For Cancellation Fees One of our first decisions when we started Payment Depot was to have no cancellation fee. We even took it a step further by offering a 90 day money back guarantee on your membership fee if you aren’t happy with us for any reason. In the credit card processing industry, […]
EMV Chargeback Relief Gives Merchants More Time To Upgrade We are quickly approaching the one year anniversary of the EMV liability shift. The transition to EMV has been rocky at best and quite a pain point for many merchants and processors. Slower checkout times, delays in certifications, and the lack of software updates have forced […]
Why We Don’t Use Outside Agents At Payment Depot we know that your time is valuable and you don’t want to be bothered during your operating hours by another salesman trying to pitch their products and pricing. So from day 1, we made the decision to avoid using door to door salesmen and cold calls. […]
Response to the Top 5 Most Common Merchant Account Complaints We love Merchant Maverick, a great website that helps small business owners learn about credit card processing and decide which merchant service company will be the best for them. In fact, many of our members tell us that they found Payment Depot by first reading […]
Payment Depot Review – Great Customer Service! One of the most common things business owners search for before they become one of our members is: “Payment Depot Reviews.” Well, here’s a great testimonial coming from one of our members, Chetek Cafe. We’re proud of the customer service provided by our team here, as we aim […]
We Love Hearing From Our Members! At Payment Depot, we love hearing from our members, and we’re proud of our staff that takes care of things behind the scenes. Here’s a great email from one of our members, a satisfied small business owner who was having some technical issues with her merchant account. From: Tricia […]
This Payment Depot Member’s Response Was Awesome! In the credit card processing industry, everyone promises to save you money, but very few companies take the time to really serve their customers. At Payment Depot, we already know that we have the lowest prices in the industry, but we are even more interested in providing the […]
