Cost Reduction Methods for Merchants: 8 Ideas to Reduce Expenses in Your Business It’s a question that has plagued business owners since the beginning of time: How can you reduce your expenses and cut costs without sacrificing quality? With small businesses being constantly squeezed by increases in expenses, controlling costs is always an important issue. […]
8 Things Retailers Can Learn from Costco (and One Thing NOT to Follow) Image credit: Nicholas Eckhart on Flickr By Meaghan Brophy Costco has a pristine reputation. In addition to being the fourth largest retailer in the world, they regularly top employee and customer satisfaction charts. Much of Costco’s success can be attributed to their […]
How to Find a Credit Card Processor: A Quick-Start Guide to Choosing the Best Merchant Services By Francesca Nicasio No matter what type of business you’re running, we’re willing to bet that getting paid is a top priority. After all, the more funds you have in the bank, the more money you have to serve your […]
7 Marketing Lessons You Can Learn from Costco — and How You Can Use Them to Drive Loyalty and Sales By: Alexandra Sheehan It’s no surprise that Costco’s direct-to-consumer business model is successful. With its paid membership, the brand generates revenue BEFORE even generating a sale. But their success lies in more than just a healthy […]
Restaurant Credit Card Processing: What You Need to Know to Ensure Smooth Payments in Your Business Fact: People like to use their credit and debit cards when they eat out. Research shows that 75% of consumers use their debit or credit cards when dining it at a restaurant. Credit and debit cards are clearly an […]
Where Costco’s Membership Model Falls Short for Merchants By Jasmine Glasheen Costco has an impeccable reputation. The company’s image for great customer service at low prices is so good, in fact, that many business-owners are stoked to realize that Costco has a Merchant Services Program dedicated to credit card processing–– after all, who doesn’t want […]
How Credit Card Processing Works: The Key Entities Involved in Processing Payments for Businesses The act of swiping, inserting, or a tapping a credit card takes less than a minute, but there’s actually a lot going on behind the scenes whenever a business accepts a credit card as a form of payment. The fact is, […]
11 Habits for Running a More Successful Business in 2019 By Rich Kizer & Georganne Bender 10 seconds is all the time it takes for a customer to make a value judgment about your business; it takes just 5 seconds to make that same judgment about your people. In those seconds customers are unconsciously determining […]
What Are the Average Credit Card Processing Fees That Merchants Pay? It goes without saying that every modern company needs to accept credit card payments. As the Wall Street Journal recently pointed out, credit cards capture the majority share of consumer dollars. In 2017, card payments accounted for 62.3% of consumer payments by dollars spent, […]
How to Fight and Prevent Credit Card Chargebacks in Your Small Business by Alexandra Sheehan A credit card chargeback is when a merchant charges a credit card for a transaction, and the cardholder later disputes the charge. This might happen because the cardholder is truly a victim of fraud. In other cases, merchants are the ones […]
The Top 5 Payment Processing Trends Making Waves in 2019 Running a successful business requires succeeding at a number of important steps. For starters, you need to pick the right product or service to provide. You also need to have the right marketing and advertising strategies in place to get the word out about your […]
The 3 Essential Things You Need to Know When Processing Credit Cards By Nicole Leinbach Reyhle The customer path to purchase is more complicated than ever and likewise, the journey to accepting, processing and ultimately protecting credit card payments is not straight forward, either. There are many variables that impact credit card payments and more […]
Costco Credit Card Processing: Is it Really the Best Choice for Merchants? Here at Payment Depot, we have a lot of respect for Costco. We love the fact that it’s a membership-based business and the company lets shoppers buy merchandise at wholesale rates. As you may know, we use a similar business model for payment […]
Everything You Need to Know About B2B Credit Card Processing — and How to Lower Your Rates If you run a B2B company — that is, if you do business with other business, then it’s worth exploring the ins and outs of B2B credit card processing. While traditional transaction methods such as ACH and checks […]
4 Noteworthy Technologies Making Waves in the Retail Space By Melissa Gonzalez We are living in a unique time when we are witnessing technological advances are driving shopper expectations at record speeds. Consumers expect options and information at their fingertips; they expect personalized service, frictionless experiences and will reward brands and retailers that not only […]
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 […]
