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Individual CC Processing Agents

How Can You Provide Value with CC Processing? Rate Tracker is an awesome selling tool for CC processing reps just like you! Do you wish you could sell more merchant accounts on value instead of price? How about adding a new selling tool to your pitch? Introducing Rate Tracker, a free software tool for business owners. How Does Rate Tracker Work? Each month, merchants receive an email and text message with the following datapoints form the previous month… Credit Card Processing Fees Credit Card Sales Effective Rate Why Choose Rate Tracker? Merchants love having a watchdog over their merchant account and will share Rate Trackers with other merchants. Rate Tracker will help you… Build better rapport Improve ROI of prospecting efforts Get more qualified referrals Close deals faster and at a higher margin Retain clients longer Win back lost business Learn More About Rate Tracker If you are interested in providing more value to your clients, Rate Tracker is an awesome selling tool for CC processing reps just like you! Contact us today to learn more.

May 24, 2021 No Comments

Processing Solutions

How Rate Tracker Helps Business Owners

How Much Time Do You Spend Looking Over Your Credit Card Statements? As a small business owner, you are the backbone of our economy – but how much time do you spend reading over your credit card processing statements each month, only to find that you still have no idea where your money is going? Our guest is zero because you’re confused by it and you wear a lot of hats in your business. The Problem with the Processing Industry… The credit card processing industry is a mystery to most, allowing processors to take advantage of their customers. By sneaking in fees and rate increases, they use your business to line their pockets. Stop wasting time and start tracking your rates with Rate Tracker, a free and secure automated credit card processing fee tracking system that allows small business owners like you to take control of their costs. Monthly Rate Updates Each month, merchants receive an email and a text message with the following data points from the previous month. Credit card processing fees. Credit card sales. Your out-the-door rate. With easy access to this information, you’ll find out immediately when your rates go up instead of months or even years down the line, saving your business thousands of your hard-earned dollars. Learn More About Rate Tracker If you are interested in learning more about your credit card processing rate, contact us today!

May 24, 2021 No Comments

Credit Card Processors

How Did Rate Tracker Get Started?

Rate Tracker was created to start a movement in the payment industry. Small business owners are often taken advantage of by credit card processors because they know that those business owners rely on them to make money. Likewise, the processors also know that small business owners are far too busy to read over their statements every month. Even if they did have the time, most people can’t make heads or tails of what they are reading. This lack of clarity is allowing the payments industry to trample the small business owners in our country and slowly line their own pockets with your hard-earned money! The Movement There are two stories that come to mind when people ask us why we created Rate Tracker. Both involve merchants who were losing money due to unknown processing rate increases. The first story is about a merchant who we asked to test out our beta version of Rate Tracker. He was adamant about not switching processors because he believed he was getting great rates. After using Rate Tracker, he realized that he was actually paying way more than he thought and immediately switched payment processors. The next story is about another merchant who never looked at his statement from his processor. Two years went by without him ever knowing that they raised his rates. That mistake totaled at about $10,000 of additional fees that he was way paying due to not tracking his rates. Our Inspiration Our goal of creating Rate Tracker is to bring transparency into the payments industry so that small business owners can take control over their credit card processing rates. Learn More About Rate Tracker If you are interested in learning more about how Rate Tracker works or to get started, contact us today!

March 10, 2021 No Comments

Credit Card Processors

Why Become a Rate Tracker Referral Partner?

The credit card processing industry is a mystery to many small business owners. Because of this, processers take advantage of small businesses by increasing their rates just to benefit themselves. More often than not, this happens without the owner even noticing until months or years down the line. Rate Tracker is here to reform the payments industry by educating small business owners so that they can take control of their rates. By joining our movement, you can build better, stronger, and longer-lasting partnerships with your customers. As a referral partner, you’ll build trust, provide value, and make your customers raving fans all earning passive mailbox money. Join the movement today with Rate Tracker.

March 4, 2021 No Comments

Credit Card Processors

Are You with the Right Credit Card Processor?

Are You with the Right Credit Card Processor? As a small business owner, your money means a lot to you; so, saving where you can is essential. One area where you can potentially save a lot of money is with your credit card processor. How Do You Know if You are with the Right Processor? Rate Tracker is here to help you determine if you are working with the right people by asking yourself these simple questions. Do You have a Dedicated Representative? If you are working with a person from their team, is it always the same person? Is that person working with you to help you manage your account? Is Your Representative Paid Monthly? A big thing in the credit card processing industry is residual income. If somebody is making money every month from managing your merchant account, they’re going to be incentivized to make sure that you’re happy. Is the Solution You Have the Right Choice for Your Business? Every business has different needs, and most merchants don’t realize all of the different equipment options that are available that could be serving your business and customers better. Do You Ever Get Frustrated with Your System? If you find yourself getting frustrated with your credit card equipment or system, you don’t have to suffer through it. There is likely a solution that has been created to ease the stress for you and others in your industry. What is Your Rate? If your rate is higher than 3.5% or increasing each month, something isn’t right. We are here to help you figure out why that’s happening and how you can fix it. Learn More About Rate Tracker If you are interested in learning more about the credit card processing industry and which processing solution is right for you, contact us today!

February 24, 2021 No Comments

Processing Solutions

How to Store Customer’s Credit Cards

How to Store Customer’s Credit Cards Everyone wants to keep their data secure, no matter if you are a business or an individual, you do not want your information leaked into the wrong hands. So, storing your customer’s credit card information safely is essential, but how? Gateway Storing The way you store your information is going to be based on what type of business you are. If you have a website where you accept payments, we always recommend using a gateway. The gateway connects the merchant account securely to the website or the software or whatever that might be. Some of the most popular gateways are Authorize.Net and Network Merchants International (NMI.) These gateways allow you to securely store information. And so that sensitive data never actually hits your website. Credit Card Processors Can Store Your Data but Be Careful! Credit card processors can offer to store your customer’s information for your securely, but they can also use this as a way to “hold you hostage.” For example, we worked with a landscaping company that wanted to switch from their previous processor, but all of their customer’s CC info was stored with that processor. In order for that business owner to retrieve his customer’s info, he had to pay the processor $5 for each client’s credit card number. He ended up paying $3,000 just to get his customer’s info back from the processor! Long story short, we do not recommend having your processors store your customer’s information! Store them in a gateway that you own so that if you ever do decide to change processors, you can take your data with you. Learn More About Rate Tracker If you are interested in learning more about gateway storing, contact us today!

February 11, 2021 No Comments

Processing Solutions

What You Need to Know About Cash Discounts vs. Traditional Processing

What You Need to Know About Cash Discounts vs. Traditional Processing As a business owner, there are many ways that you can accept money from your customers. You could do cash only, you could do plastics only, you could do both. However, it is important to know which type of payment is best for your business and which type of payment is best for your customers. Traditional Processing Traditional processing is when the business owner assumes the credit card processing fees on each of their customers transactions. Cash Payment Discounts Though cash payment discounts have been around for quite some time, they have become exceedingly popular over the last year, mainly due to COVID. Instead of the merchant paying the credit card processing fee, they add an additional fee onto their customer’s total to cover the transaction charge. This incentivizes the customers to pay in cash to reduce their total. This is a completely legal and effective way to reduce your costs are a business owner, but there are certain things you have to do to stay compliant with this type of transaction. For example, you need to advertise on your storefront and at the register that you offer cash payment discounts. Know Your Industry and Know Your Customers There are certain industries where charging your customers a transaction fee is not the best idea. For instance, if you are a fine dining restaurant, your customers will find it odd if you charge them for the transaction fee. Whereas an automotive shop is a better industry to incentivize cash payments. It is all about knowing who your audience is! Learn More About Credit Card Processing If you are interested in learning more about the payment processing industry, contact us today!

February 3, 2021 No Comments

Processing Solutions

Credit Card Processing Equipment Solutions

Credit Card Processing Equipment Solutions There are many different methods to accepting credit card payments, and each business has its own individual needs. In today’s education blog, we are going to briefly cover some of the most popular credit card processing equipment solutions! Countertop Solution The countertop equipment is probably one of the most common ways to accept credit cards, especially in retail. This method is familiar, easy to use, and hooks up to your internet. Virtual Terminal Solution The virtual terminal allows you to take payments over the phone, which is perfect for B2B businesses or “card not present” environments. For this solution, it is extremely important to have a secure connection to protect your customers and yourself. Recurring Revenue With virtual terminals, you can also schedule recurring payments. Every credit card processor has this capability, and it is a great benefit to the business owner. It’s predictable revenue for your business so that your business is getting paid month after month. Mobile Solutions Mobile credit card processing solutions are great for the trades like HVAC, Roofers, and Plumbing. It’s great to be able to take a payment from your customer inside of their living room, which just makes the whole process convenient for both you and your customer. It’s also professional looking, and you’ll save money on the cost of each transaction because the card is inserted or swiped instead of keyed in manually. eCommerce Solution With so many people shopping online (especially now), eCommerce is a super easy way to grow your business. There’s a lot of different gateways out there that will allow you to securely connect your online shopping center or your eCommerce business with a merchant account so that everything can happen seamlessly. Invoicing and Billing Solution You can send somebody an invoice, they click a button, they go to a payment screen, and they’re able to run a transaction right then and there. Then the money automatically flows to your bank account. Integrated Solutions If you use a POS (point of sale) system or a software system, pretty much every processor can connect to these systems. Having an integrated solution inside of your CRM, your practice management software, whatever it might be, eliminates headaches and makes things happen in one step. Learn More About Credit Card Processing Solutions If you are curious about exploring a new type of credit card processing solution or want to know which type is best for your business, contact us at Rate Tracker today! We are here to help businesses grow, starting with tracking their CC processing rates!

January 27, 2021 No Comments

Tips and Tricks

4 Tips to Help Grow Your Business

4 Tips to Help Grow Your Business Rate Tracker is helping bring transparency into the credit card processing industry to help small business owners like you! We love being able to help our clients grow! As we have worked with hundreds of different clients across many industries, we have identified the 4 most helpful tips that you can use to help grow your business! 1. Upselling Increase the average order size. Just like restaurants ask if you want to add a side, you can offer smaller, ancillary services or products to help boost your sales. This is especially helpful if you accept credit cards to help with those rates. 2. Increasing the Frequency of Customer Visits Finding new customers can be hard, but keeping current customers is essential! Loyalty programs are a great way to build trust with your customers and offer them something in return. 3. Increase Number of Clients This one is a no brainer, but as the previous tip states, finding new customers can be hard. Hire a marketing company that can help you extend your reach and generate leads. 4. Create a Contact List Having a list of customer’s emails and phone numbers can help you generate business with special offers, upcoming sales, and more. This tip is especially useful during the age of COVID; while everyone is staying home, you can still be top of mind! Learn More About Rate Tracker Our goal is to help empower small businesses so that they can take control of their credit card processing rates and grow their companies. Contact us today to learn more!

January 22, 2021 No Comments

Statements

Check Your Credit Card Statement for These 4 Terms

As a business owner, you are too busy to sit down and read through your credit card statements every month. When you signed on with your processor, they said you were getting a good deal, so why check-in? The credit card processing industry is notorious for slipping in extra fees, surcharges, and more to help line their pockets with your hard-earned money. Let’s stop that here and now with Rate Tracker! Below are a few keywords to show where and why you are getting hit with extra charges. 4 Charges to Look for on Your Statement EIRF Electronic Interchange Reimbursement Fee or EIRF is tied to your merchant account. When your account doesn’t batch on a timely basis, you are charged a fee by the issuing banks. Surcharge Surcharges are common in this industry. It is when the processor is either inflating your cost or padding the cost, which again lines their pockets and takes away from your money. PCI Non-Compliance PCI non-compliance is a charge you incur as a result of being marked as a liability in the eyes of the processor. PCI was created to mitigate the risk that is associated with paying with credit and debit cards. If your business is considered non-compliant, you’ll get charged a monthly fee by your processor for that anywhere from $10- $250 a month! If you are not compliant, you should seek to become compliant immediately so that you’re not at risk and also that you’re not paying additional fees. Rate/ Cost Increase A rate or cost increase is usually on the front page of the statement. However, the processors know that most merchants do not read their statements, so they often get away with it. Why Choose Rate Tracker? Rate Tracker 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. Our tool is free and easy to use! Learn More About Rate Tracker If you are interested in learning more about Rate Tracker, contact us today! You can also visit Certain Pay to talk to a specialist who can help you go over not only your statements but your entire solution!

January 11, 2021 No Comments

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Individual CC Processing Agents

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Why Become a Rate Tracker Referral Partner?

Are You with the Right Credit Card Processor?

How to Store Customer’s Credit Cards

What You Need to Know About Cash Discounts vs. Traditional Processing

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Check Your Credit Card Statement for These 4 Terms

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