4 Serious Mistakes Business Owners Make With Their Credit Card Processor

4 Serious Mistakes Business Owners Make With Their Credit Card Processor
When ecommerce was first introduced as a new concept there was a common belief that it was expensive and difficult to implement.  In truth, when ecommerce first came into existence it was often expensive and complicated to setup.  This was true from both the Visa / MasterCard card acceptance perspective, and also from the technology / shopping cart perspective.

If we fast forward to today ecommerce is common place.  Technologies like Shopify exist to make ecommerce affordable and accessible to even the smallest of new and startup businesses.  Similarly, most banks and credit card processors no longer see ecommerce as high risk.  It is much easier to get a merchant account for credit card acceptance today than it was at the advent of ecommerce. 

Unfortunately, (and perhaps as a side effect of making ecommerce so accessible) some business owners tend to enter into a merchant processing agreement without understanding what they are getting into.  This is a significant mistake.  A business owner must research and do proper due diligence before selecting their processor. 

Your credit card processor will provide you with a merchant account.  This merchant account will be used to capture funds collected from credit card sales.  You will pay fees to your credit card processor for this service, and you need to make sure you will get what you expected.  This article will help you to avoid some of the most common and damaging mistakes that business owners make when choosing their credit card processor.

Before You Read Further

In this article I will shed light upon some of the deceptive practices employed by a small number of processors in the payments business.

I want to strongly point out that this is in no way reflective of the industry as a whole.  There are a great number of honest and hard working professionals in the merchant services industry.  Most established processors have achieved their success by being able to go the extra mile and support their clients.  In short, there are many good options to choose from.

The purpose of this article is to arm you with knowledge so you can proceed with confidence when choosing your processor.  In fact, much of what is discussed is as much common sense as it is inside information.  Regardless, it’s advice that every business owner should keep in mind.

On that note I will ask the single most important question…

Did You Actually Read the T&C of the Merchant Agreement?

While researching to find your credit card processor you will speak to many different sales people and receive numerous quotes.  However, you can’t simply make your decision and start processing immediately.  In order to get a merchant account you must apply and be approved to use the service. 

Part of the application paperwork will include the terms and conditions of the merchant agreement.  The T&C will govern the usage of the service and the relationship between your business and the processor.  It is a very important document. 

It should be obvious that you should read the T&C of the merchant agreement before signing the contract and submitting your application.  Why would anyone sign a contract without reading it?  The reason is actually quite simple, and anyone who has seen a merchant agreement will know the answer:  they are long legal documents filled with complicated legalese and confusing language. 

Upon glancing at the paperwork, many people don’t bother reading.  We’ve all been on websites or installed software that included long terms of usage that must be agreed to before proceeding.  Few people (if any) actually read these documents.  Your merchant account agreement should not fall under this category.  It will have a major impact on your business and requires proper attention.  Despite the fact that it may not be a thrilling read, as a business owner you must take the time to at the very least do a solid skim through the contract.  The purpose of this is not to examine the language or try to review it like a lawyer would.  What you are looking for is red flags.  If anything comes up that causes questions or concerns you must raise them with your potential processor before proceeding.  If you don’t do this you could be setting yourself up for frustration down the road. 

The most common cause of that frustration has to do with fluctuating pricing that some processors do not properly explain during the sales process…

Watch Out For Interchange Downgrades and Rate Fluctuations (AKA Hidden Fees)

Most merchants are understandably very concerned when it comes to establishing pricing for their payment processing.  Cost is always one of the main decision making factors when it comes to choosing a processor. 

The single most common frustration that merchants experience after signing the merchant agreement is that they do not end up receiving the pricing that they were promised by the sales person.  This happens for two reasons:

  1. The merchant does not have an adequate understanding of merchant industry pricing.
  2. More importantly, the sales person may have been deceptive.  The business owner accepted a verbal or email based quotation but did not read the contract to make sure they would receive what was promised.

The merchant industry is rife with confusing terms.  In fact, merchant industry pricing is a topic worthy of an entire article on it’s own but here we will discuss it only enough to understand the basics of the issue.  The most important thing to understand is that the rate that you pay fluctuates depending on the type of card used.  This is because the “interchange” cost (the cost from Visa or MasterCard) varies depending on the type of card used.  Cards that carry a benefit to the cardholder (like an airmiles card) and corporate cards are slightly more expensive to process.  Some processors may offer flat pricing where the type of card does not influence the rate being charged, but in 2011 this is very uncommon.  Fluctuating pricing is far more common because Visa and MasterCard have built interchange to vary depending on the type of card used.

With the understanding that the cost to the processor fluctuates depending on the card type, we can now understand why the cost to the merchant often fluctuates.  Armed with this knowledge we can now discuss the worst pricing trick in the industry.  The worst trick occurs when a sales person quotes an extremely low rate (often below interchange cost to the processor), but does not explain to the merchant that the pricing can fluctuate. 

I will give an example.  A shady salesperson quotes a discount rate of 1.49% (which for the record is far below cost on an ecommerce transaction).  However, they don’t point out that this rate is only applied to swiped credit card transactions.  How often do you swipe a credit card in an ecommerce transaction?  Never.  You will never pay the quoted rate. 

How can you avoid this problem?  With a bit of common sense and a basic understanding of the interchange table.  This is a classic case where if you receive a pricing quote that sounds too good to be true then follow your common sense.  (Consider it a huge warning bell if the rate sounds low and the sales person hasn’t at all discussed premium, corporate and foreign issued cards) 

It is worth noting that when the interchange rate fluctuates the processor should pass that cost increase onto the merchant.  Visa and MasterCard have modeled the pricing this way, and there is nothing wrong it – so long as it’s always clearly explained by the salesperson.  Unfortunately, that is not always the case. 

We now understand how misleading pricing tactics can be employed, but not the extent of the damage that it can cause.  The damage happens when a processor adds an unexpected surcharge on top of the cost increase from Visa or MasterCard when a premium or corporate card is used.  (When this is done it is most often referred to as a “non-qualified” transaction).  If a Visa infinite card is used the cost to the processor increases by 0.2% in Canada.  However, what if the processor added an additional surcharge of 1% whenever a Visa infinite card is used?  For the sake of mentioning it, there is nothing wrong with a processor adding a surcharge for different card types.  The processor has to generate some income for the service they are providing.  The practice of surcharging for premium cards is fine - so long as it was explained to the merchant upfront.  Unfortunately, some of the less scrupulous processors don’t do this, and this is why many business owners end up with pricing that is far higher than they had expected.

We can now create a simple example.  A merchant receives a quote a rate of 1.5%.  (Side note – this is a typical “too good to be true” rate, and is well below interchange cost for ecommerce transactions).  The processor has a 2% surcharge buried in the pricing table of the merchant agreement to be applied whenever premium cards are used.  Merchant processes a premium card and their 1.5% turns into 3.5% (or more). 

If the merchant had taken the time to read through the agreement and had carefully examined the pricing table they would have seen some language related to downgrades and premium cards.  They would have known to ask the sales person about it and could have avoided the problem. 

As far as recommended best practices go, if discussing pricing and the sales person hasn’t mentioned premium cards or interchange it is a major warning sign.  However, even if you ask about rates for different card types it isn’t good enough.  This is because there two types of processors in the industry.  Some processors operate a consultancy model with highly trained staff.  These staff work on a managed account basis with a smaller number of merchants managed per consultant.  This processor will (generally speaking) always be able to properly explain a quote that they are providing.

The other model is for a processor to run a volume driven business that utilizes call center staff to cold call thousands of businesses in an attempt to generate leads and interest.  Call center staff work from a script and cannot deviate far from it.  They are instructed with a clear goal of getting a merchant to submit an application.  These staff are poorly trained and most often don’t even understand what interchange is.  This type of sales person is not capable of properly educating the business owner on the pricing (even if asked about it) and is why you should always get to the bottom line by reading the merchant agreement.  As a side note, processors that operate a call center model are always easy to spot by Googling for complaints. 

If you want to put it to the test, your salesperson should be knowledgeable and transparent with all of the details of the quotation.  They should be able to tell you how much margin is built into your processing rate.  They should understand interchange.  If you understand interchange better than the person trying to sell the account to you it should be a major warning sign!

Read the agreement and focus on clauses that deal with rates, assessments and downgrades from the card associations (Visa and MasterCard).  Look for anything that might be a surcharge and make sure you understand the pricing before you sign the contract. 

Be Aware of the Contact Term and Early Cancellation Penalties

Many business owners don’t seem to realize that the processing agreement forms a contract between a merchant and their processor.  This contract has a duration called the contract term.  Every major processor in Canada and the US has a contract term.  (Paypal is the exception because they don’t actually supply a merchant account, but instead aggregate transactions through their own merchant account.)

There are many reasons why a contract must exist between the processor and the merchant.  Without going beyond the intended scope of this article, one of those reasons is cost. 

Opening a merchant account for a business involves a significant amount of work and expense to the processor.  To oversimplify a somewhat complex process, the processor must complete a KYC check (know your customer) and other due diligence to make certain that the business does not have a history of fraud and will operate a stable and honest business.  This involves costs at several points throughout the process including credit reporting, technology costs, and fees owed to the card associations and upstream providers involved in the transaction flow.  The end result is there is significant cost and effort to the processor, but with today’s competitive environment many processors will operate at a loss when boarding the merchant even if a nominal setup fee is being charged.  The merchant will have to stick around and process for a while before the processor generate positive revenue from the account.  This is one of the reasons why merchant agreements have a set contract term.  The term with almost every major processor in Canada is almost always the same: 3 years.  In the USA it’s often 3 years or 5 years.  In Europe it seems to commonly be set to 1 year.

With the understanding that every processing agreement has a contract term, there is almost always an early cancellation penalty.  Most processors have an early cancellation fee based upon the monthly fee.  For example, if you are on a standard 3 year (36 month) contract and cancel after the first year it means you have 24 months remaining on your agreement.  If your monthly fee was $50 you would multiply the monthly fee by the number of unfulfilled months remaining on the contract term.  ($50 x 24 months) = $1,200.  Keep in mind that this is just an example.

The early cancellation fee should be of particular importance to a startup business.  Despite a business owners best efforts and intentions, not every startup business becomes a runaway success.  In some cases a business owner may have to shutter the doors if the business isn’t working out.  There are few times when a person is as financially vulnerable as when an entrepreneur must shutter a business.  That is why cancellation fees should be addressed before entering the agreement.  Some processors are very good at working with startups and can be flexible with merchants who are in this situation.  If operating a startup and considering a particular processor, you should ask them about the cancellation penalty.  A good processor will understand your concerns and work with you to address them.  Different processors will provide different remedies to this situation.  It’s about finding the most workable solution to the problem.  If you operate a startup and this problem isn’t adequately addressed move on to the next processor who will better understand and listen to your concerns.

Are You Making Volume Commitments?

Some processing agreements have volume commitments that a merchant must satisfy.  In other words, a merchant must process X amount of dollars per month.  If the merchant doesn’t satisfy this volume commitment then the discount rate can be increased or other financial penalties can be applied.  This practice is almost non-existent in Canada and Europe.  It’s far more prevalent with US based credit card processors.  A clause like this is unfair for most small and mid-sized businesses, and is absolutely outrageous for a startup.  Be aware and make sure that there are no volume commitments in your processing agreement. 

As a side note to the volume commitments discussion, in some cases it is a fair fee.  For example, an established business that processes 10 million dollars in sales per month would be able to negotiate a very low rate.  The processor may roll out the red carpet and give them a fantastic deal.  But if the merchant doesn’t end up driving that high transaction volume the processor could end up taking a loss (or at least make no revenue) in which case there was no sense in boarding the account.  Again, this is something that doesn’t apply to small and mid-sized businesses.  The reason I’m mentioning it is because many of the “pricing tricks” that exist in the industry originated for very meaningful reasons.  It’s when and how a rule is applied that matters.  What you don’t want to happen is to find yourself in a situation where you signed into a merchant agreement with some type of clause that you weren’t aware of that will have an adverse impact on your business. 

Also note that the volume commitments discussed in this section are not to be confused with a monthly minimum fee, which is a standard fee to help a processor cover costs on dormant or inactive accounts.  A monthly minimum is standard and fair, so long as it’s reasonable and clearly disclosed.

Use the Competition to your Advantage

If you are shopping to negotiate an account and have an offer that sounds too good to be true you may be able to discuss what is being offered with your second-in-line choice provider.  It has often been the case that clients have come to me with quotes that were below interchange.  They had thought that it appeared to be too good to be true, and in some cases it was.  With expertise in the industry it’s far easier to spot shady pricing techniques than it is for someone without an understanding of interchange.  I have to be careful of my advice in this regard because some processors consider their application documents sensitive and you don’t want to be sharing them with other folks.  However, nothing would stop you from discussing a rate you may have been quoted verbally.  Try to leverage the expertise around you to get to the bottom line and walk away with the best arrangement and value possible.


This article is by no means meant to paint any particular processor in a negative light.  As I’ve mentioned above, most processors are hard working and honest.  The good guys by far and away outnumber the bad guys.  So do not be scared or intimidated when choosing your processor. 

Remember that your credit card processor will make a little bit of money every time you process a sale.  They should want you to succeed and do everything possible to support you.  Good processors do this very well.   If you follow the advice in the article it will help you to setup your account with a good and honest processor.  Watch out for the major red flags. 

If you have questions or concerns about anything related to your agreement you must discuss them.  The merchant payment business is a business in which where there are no silly questions.  Every time you raise a concern you should receive a direct and knowledgeable response.  Above all, trust your internal radar.  If you have an offer, and warning bells are going off in your mind then trust your intuition and move on until you find the solution that is right for you. 

If you are educated and informed, if you read your agreement, and if you discuss the issues herein with your chosen provider you will end up with a stable solution that can help you to build your business online for years to come. 

This article was written by David Goodale Conclusion who is the CEO at MerchantAccounts.ca. David has over 10 years of industry expertise in the international and multi-currency ecommerce payments sector.

Merchant Accounts.ca is a leader in credit card payment processing and specializes in multi-currency transaction processing and is able to help businesses implement credit card processing solutions that can transact in many different currencies such as CAD, USD, GBP, EUR, AUD and JPY.  With a client focused business model, every merchant works one on one with the same account manager for the lifetime of their account.  This managed consultancy model makes implementing ecommerce transaction processing easier to achieve for small online businesses that are new to ecommerce.  More information can be found on the Merchant Accounts.ca website.  


  • dervalp
    October 26 2011, 09:05AM

    Great article!

  • khedaywi
    October 26 2011, 11:11AM

    Great read! Very informative for newcomers.

  • Sherry Bennet
    Sherry Bennet
    October 26 2011, 11:14AM

    This is an unbelievable article. Very in depth. Thank you so much for sharing. I think everyone should read this.

  • Rob
    October 26 2011, 11:39AM

    Can you give us some examples of who the good guys are?

  • David Goodale
    David Goodale
    October 26 2011, 06:14PM

    Hello Rob,

    As author of the article and CEO at Merchant Accounts.ca do (www.merchant-accounts.ca) I have any credibility if I tell you that we are one of the good guys? =)

    Seriously, the folks with the less desirable business practices are usually pretty easy to spot with a bit of Googling for complaints. Plus if you watch out for the red flags I discussed it makes it easy to spot suspect rate proposals.

    More than anything, trust your gut feeling. If you feel like you are getting too many quick or vague answers, or if you get the feel they are working from a script then just keep shopping. You’ll end up with something good!

  • David
    October 26 2011, 06:24PM

    just use stripe.com

  • Anthony Bjornson
    Anthony Bjornson
    December 05 2011, 07:07PM

    Payfirma is proud to introduce the Interchange Plus billing model. This is the exact model recommended by the Canadian Code of Conduct. Much like a bank’s interest rate model, Prime Plus, Interchange Plus is the payment industry’s cost-plus model offered only by Payfirma!

    Interchange Plus is far more cost effective and eliminates non-qualifying surcharges, assessment fee mark ups, card brand fee inflations and the host of other unnecessary fees standard to the processing industry.

    Us & Canada Only.
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    No surprises with us.

    Shoot me an email or give me a call for all your eCommerce Payment Gateway needs.

    Phone:800.747.6883 Ext. 828
    Email: Anthony.Bjornson@Payfirma.com

  • Jun
    March 02 2013, 12:20AM

    Really helpful artile! just what I was looking for.
    But I see you only serice in E commerce? Im looking for a service where I can use physically. any good company you can recomand?

  • waymon
    April 18 2013, 11:12PM

    I am looking for a merchant account for my small online business that is not credit driven.Thanks

  • Scott E. Stratton
    Scott E. Stratton
    May 31 2013, 05:33PM


    I just wanted to drop you a note (in this case, I suppose, it’s a comment :-)) to thank you for the excellent article on shopping for a Merchant Account. As useful as the Internet can be, I find it is usually best at helping orient me to a new topic I am unfamiliar with, and pointing me in the direction of better, more in-depth resources offline (or at least, not traditional Internet fare)

    Nothing wrong with that, but it’s still a wonderful and and welcome surprise to stumble on an article like yours that is in-depth and well-written. The latter of those two things is particularly welcome as well as particularly unusual. I know it’s nice to hear complimentary things about one’s work, but it’s not particularly useful without some specifics; I feel like I’ve spent half my career trying to help people communicate better in writing, and so have learned over time to appreciate some of the details involved. So, though this is already too long for a comment, I beg your (and your reader’s) indulgence for a bit more :-).

    - First off, the voice. You write professionally and accurately, but while still using 1st and 2nd person liberally. For far too long students and newcomers to business and professional writing have been lectured on using the 3rd person. In the hands of anyone but a truly gifted writer (and how many of those are out there? I’m certainly not one), the result is typically a passive-voice nightmare with convoluted sentences and no engagement with the reader. Many writers trying to avoid that mistake instead make the mistake of equating personable, direct, and friendly writing with casual, sloppy, Internet-chatting styles of writing. Kudos to you for finding that happy medium!

    -Scope & Depth. We live in a complicated world. Most things worth writing about are complicated. Our natural human desire for simplicity, which probably kept us one step ahead of saber-toothed tigers and the tribe across the river eons ago is a significant hinderance in the modern world. I am often dismayed at the (seemingly) inordinate length of any non-fiction I write. But though I am genuinely guilty of being a bit too wordy, it’s usually because the subject demands it. We are all pressured to be briefer on the Internet. As a consumer I want shorter rather than longer; but that’s usually a bad desire. You established a clear scope for your article (which you articulated well) and then thoroughly explored it. You didn’t go outside your chosen boundaries (unlike this comment, lol) but within those boundaries gave a thorough treatment. THAT is admirable in my opinion, and from the other comments it is great to see others that agree. It’s only sad to also confirm how rare it is.

    Bias/Objectivity: we want to learn from experts, but we also (as consumers of information) often demand a level of pure objectivity that is unattainable. Who do we think are the experts? It’s usually the people that have thrown themselves into an industry or subject and LIVED it. As you have. But that means you probably have some vested interested in part of all of the subject you are writing about. Clearly you have an interest in steering potential customers to YOUR merchant account business. It would be easy to simply label whatever you write as necessarily biased and unfortunately many people do just that sort of thing. It’s not fair however; it’s all in the execution. You provide real advice, and excellent advice, and advice germaine to the entire industry. Unless I missed something, you said nothing under the guise of “advice” that would lead someone to your company and/or away from another. I think you handled the conflict adroitly, and that includes your response to the commenter. It would be difficult for you to recommend for or against anyone in particular without being partisan. Many are okay with that, of course, but it’s safer to just avoid giving that sort of recommendation. Anyway, this particular issue can be a minefield and have lots learn about it, but it seems to me you provided objective advice. Simply providing this article is a service that will recommend your company to readers – and that is a perfectly legitimate return on the investment of your time and expertise. For example, I had NO idea where to begin my search for an merchant account for my first foray into eCommerce. Based on your article alone, I’m going to research PayPal first and your company second. Assuming the positive qualities you’ve demonstrated automatically apply to your business isn’t necessarily true, but I’m willing to give it a shot :). Odds are good, actually – business cultures typically reflect their leaders personality and ethics.

    Well, that’s more than enough – just figured probably got lots of “Good job!” and “Crappy article.” without any detail, so I thought you might appreciate some. Hopefully you appreciate waaay more than some, LOL.

    Scott E. Stratton

  • Bernie
    June 19 2013, 05:08PM

    I ditto the long comment made by Scott Stratton, on all his points. Excellent work. Thank you.

  • Ginger
    July 12 2013, 02:01PM

    Great article with good advice. I am currently trying to negotiate the early termination fees with a merchant that I cancelled with. The merchant was mediocre at best. I went with a local merchant and was shocked at the cancellation fees. Nowhere was it noted on the documents I was faxed and signed originally. The part I apparently “missed” was “….you agree to all terms and conditions noted online…”. Wow. That is where they listed all the real stuff! I feel duped.

  • Tzaddy
    July 15 2013, 06:41PM

    Great article and excellent read on how Business Owners should think and consider first before choosing the best credit card processor that best fit their needs.

    With this, learn about us for the latest industry news and useful information about payment processing, merchant accounts, merchant services, regulations, mobile payments and credit cards.

    Halo Merchant Services provides you with all the latest information, products and services to ensure the success of your business.

    Visit us at www.halopays.com. Really simple and easy to understand credit card processing, with no added hassles and all at the best price!

  • Lareina
    October 11 2013, 04:46PM

    Don’t deal with these big companies, they take hidden fees in different ways. I run a gallery, have switched my processor three times, and now I’m finally happy to see the statement with no overcharge fees. I use Reliance Star buy the way.

  • Nancy Veldman
    Nancy Veldman
    December 28 2013, 11:59AM

    I was unaware of the cancellation fees… and the automatic renewal of the 3 year contract…. I don’t even remember signing an agreement. because i was dealing with a friend who worked for the, but who has since quit his job there. but now that I have cancelled one month into the new 3 year cycle…. they want a fee of 4,000.00. they will not work with me at all…even though I am just one month into the new cycle. I have already signed up with another company and they will not let me out either. So I am stuck. Is there any legal thing I can do if they won’t negotiate?

  • Kellie McNeil
    Kellie McNeil
    February 02 2014, 10:12PM

    Wonderful content and also fantastic keep reading the simplest way Enterprise Proprietors needs to imagine and also contemplate 1st prior to picking the best store card processor in which ideal fit in its needs.

    Using this type of, understand us all with respect to the most up-to-date trade announcement and also handy information regarding repayment handling, business balances, business products, codes, cellular funds and also consumer credit cards.

  • Bradley Lewis
    Bradley Lewis
    February 17 2014, 02:12AM

    To create a merchant account with best payment processing service is very important for every kind of business. This article is full of great information which is essential to know about a beneficial merchant account. I have also a merchant account on www.payscout.com and I’m really impressed by their services.

  • business paypal account
    business paypal account
    May 29 2014, 05:02PM

    Which credit card processor has the best customer service?

  • Swift Pay Systems
    Swift Pay Systems
    June 01 2014, 05:24AM

    Swift Pay Systems
    we’re a credit card processing company that also does loans.
    Headquartered in Chicago, Illinois, Swift Pay Systems opened its doors in 2008 with ideas and procedures that would later revolutionize the payment industry.
    Get More info about us: http://swiftpaysystems.com/

  • David
    June 18 2014, 05:11PM

    I would like offer anybody and everybody, whole sales rates not retail rates. We can guarantee to beat your rates by 20% or we will pay you $1,000.00. We have no contracts and no termination fees. I’ve been in the industry for 10 years, and have saved thousands of merchants thousands of dollars. References are available. I’m nationwide on customer service. We work within the United Stated as well as Canada. We also will provide your equipment at no additional charge. www.woodlandmerchant.com or call 1-855-339-6099.

  • David
    June 18 2014, 05:11PM

    I would like offer anybody and everybody, whole sales rates not retail rates. We can guarantee to beat your rates by 20% or we will pay you $1,000.00. We have no contracts and no termination fees. I’ve been in the industry for 10 years, and have saved thousands of merchants thousands of dollars. References are available. I’m nationwide on customer service. We work within the United Stated as well as Canada. We also will provide your equipment at no additional charge. www.woodlandmerchant.com or call 1-855-339-6099.

  • Rami L
    Rami L
    August 01 2014, 06:04PM

    I actually wrote an article of how to choose a merchant services provider. See here:

  • Trevor Marchand
    Trevor Marchand
    August 10 2014, 04:18PM

    I am setting up a ecommerce site it Mexico, do you know of anyone that can help me with a ecommerce site based out of mexico? Thanks

  • Trevor Marchand
    Trevor Marchand
    August 10 2014, 04:18PM

    I am setting up a ecommerce site it Mexico, do you know of anyone that can help me with a ecommerce site based out of mexico? Thanks

  • dhaya
    August 24 2014, 02:55AM

    hi friends. i am from India. i plane to start a website for online advance cash payment through net banking for the credit card in the purchase limit or cash limit . with full secure registration. users with the commission of some percentage with the payment gateway service provider. but is this legal or illegal i don’t know.

  • Credit Machine
    Credit Machine
    August 25 2014, 03:30AM

    Great information shared here. PBH Canada provides merchant services like credit and debit card processing, merchant account, virtual terminal with real-time reporting feature in Canada. Thanks for sharing. For more details visit: https://pbhcanada.ca

  • Jig
    September 05 2014, 02:09PM

    PAYMENT SYSTEM and leasing finance group They are worst People in world they cheat people do not trust them.

  • Lorie
    October 05 2014, 09:13PM

    Wish I had read this article before I switched to one of “those beat your current rate” companies. I did however do a search for top 10 merchant services and this company was on the list. Before I signed the part about obtaining the terms, the sales person said she’d sent it over. Being a trusting sort I sent the paperwork in before I actually received the form. Tough lesson learned. I am going to reread it thanks to Nancy to make sure my contract is not renewed. Great article. Thanks!

  • Andy Mullins
    Andy Mullins
    October 15 2014, 11:09AM

    Heartland Payments Systems is the most transparent company I have worked with. They created http://merchantbillofrights.org, offer cost plus pricing and next day funding.

    I created a video for them a couple years ago explaining similar items found in this post. Credit Card 101 http://youtu.be/vgb5OBy7OvY

  • Mary Parker
    Mary Parker
    October 16 2014, 01:54AM

    PBH Canada, Merchant Services the Honest Way!
    No hidden fees, everything is black and white. We are as transparent as it gets. Nobody else in the merchant services industry does that.
    No cancellation fees for rented POS terminals.
    No contract for rented debit and credit machines.
    24/7 customer support. Call 1-800-725-1243 if you want to test it out. You can also email customer support for your convenience

  • zain
    September 21 2015, 09:24PM


  • Anita Clancy
    Anita Clancy
    October 04 2015, 06:49PM

    We are a new company starting from scratch. We provide web designs. hosting and domains. Our technicians have to go through 3 interviews ad the we chose the best. We are trying to get a merchant account and am very discouraged. Most want a history profile but we can’t supply that information because we can’t get started without a merchant account. It is like a person applying for his very first job and during the interview they ask the name of his former employer!! Isn’ there a way that some merchant would give us say a 3 or 6 month trial??

  • Brock Langford
    Brock Langford
    November 20 2015, 06:13PM

    I would also submit that you consider Zeno Payments too. They are a highly reputable high risk credit card processing company out of Seattle. They also offer merchant account approval too. www.zenopayments.com

  • ben
    November 28 2015, 06:09AM

    Great read..

  • Ashim nandi
    Ashim nandi
    March 16 2016, 09:25AM

    This article is something a startup like me will always lookout for, I thank you so much for this one, I am looking for a Marchent account for my online pharmacy startup, I am from India and I don’t have any prior credit processing history, so I am finding it difficult to get one processor but this article will certainly be a great help

  • kiyel williams
    kiyel williams
    April 05 2016, 12:57PM

    I would never have thought that an excellent price might be the work of shady tactics. It’s always good to get second or third offers and that can tell you if a good price is suspiciously way below average. I will have to remember that when looking for a processor. Thank you for the information!

  • FICO
    May 13 2016, 01:55AM

    Nice post. Very useful for user.. Please visit this website:

  • Calum Thonas
    Calum Thonas
    May 31 2016, 09:36PM


  • toni
    August 10 2016, 01:58AM

    Are you looking for Finance? Are you looking for a Loan to enlarge your business? I think you have come to the right place. We offer Loans at low interest rate of 2%. Interested people should please contact us on For immediate response to your application, Kindly reply to this emails fastreliablefirm@gmail.com for more Info

  • Curtis Hodge
    Curtis Hodge
    August 11 2016, 10:41AM

    Nice article! I found a lot to myself! Can I use this payment system to my store?

  • guan yongbo
    guan yongbo
    August 15 2016, 02:52PM


    I am a mandate to a Finance and Investment Company who is a premier provider of trade finance and project finance instruments as well as discountable bank instruments. We offer Genuine Bank Guarantees, Standby Letter of Credit, Pre Advice / RWA Messages, Documentary Letters of Credit, Bank Draft, Proof of Funds, Performance Bond, Medium Term Notes, and various SWIFT messaging services on lease and sale. We issue these instruments from prime banks, secondary banks, and financial institutions; and transmit SWIFT MT 760, MT 799, MT199, MT999 and other messages on behalf of our clients.

    We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions. Kindly contact for genuine inquiries and I can provide you with the needed information.

    Email: bankinstrument.guan@gmail.com
    Skype ID: guan.yongbo70



  • guan yongbo
    guan yongbo
    August 15 2016, 02:53PM


    I am a mandate to a Finance and Investment Company who is a premier provider of trade finance and project finance instruments as well as discountable bank instruments. We offer Genuine Bank Guarantees, Standby Letter of Credit, Pre Advice / RWA Messages, Documentary Letters of Credit, Bank Draft, Proof of Funds, Performance Bond, Medium Term Notes, and various SWIFT messaging services on lease and sale. We issue these instruments from prime banks, secondary banks, and financial institutions; and transmit SWIFT MT 760, MT 799, MT199, MT999 and other messages on behalf of our clients.

    We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions. Kindly contact for genuine inquiries and I can provide you with the needed information.

    Email: bankinstrument.guan@gmail.com
    Skype ID: guan.yongbo70



  • eBanking Services Vendors
    eBanking Services Vendors
    August 28 2016, 11:50PM

    We sell physical loaded ATM cards . It is a croned card that can be used to withdraw Cash at any ATM Machine. This Cards comes in Visa/MasterCard. Therefore it works at any ATM Machine that accept Visa/MasterCard
    Worldwide. CAN I USE THIS READY MADE ATM CARD TO BUY STUFF IN STORES? OR ONLINE SHOPPING? PAY BILLS? Yes, with this physical ATM card, you can use it to pay stuff at stores through POS. With this ATM card information, you can use it online to pay bills or do online shopping. When you order for this card, Full information about the card will be given to you. We also reload your card when funds is exhausted.

    DO I NEED TO ORDER NEW CARD EVERY TIME WHEN THE FUNDS HAS FINISHED? No, if you have already ordered our card, there is no need to keep ordering new cards, Just contact us for a reload. We shall easily reload the ATM card already in your possession. contact us on}} ebankingservicespin@gmail.com

    it is 100% safe to use this cards , because it will be shipped to you as a gift card.

    If you are in the USA and CANADA you will receive your card in 48 HOURS with guaranteed SAFE Delivery . If you are outside the USA and CANADA Your card will arrive to you between 3 – 5 business days guaranteed.

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  • Patricia Anderson
    Patricia Anderson
    August 29 2016, 04:33PM

    This is great advice! Thank you for the great article. I often times forget to remember to be aware of the contact term and early cancellation penalties. Thank you for the awesome reminders!


  • Dahho
    August 30 2016, 06:04AM

    The article is really great, thanks! A lot of useful information, in fact, especially for small business owners like myself. I’ve started it not so long ago and would like to know which processors are reliable. I’ve come across this site recently: https://worldcore.eu/ . Can it be used as a credit card processor? Have anyone used it? It does look nice, but it seems like they’ve not been on the market for too long and I haven’t heard much about them.

  • Ihor Mochernyak
    Ihor Mochernyak
    September 23 2016, 11:28AM

    Sometimes, the vendor’s bank provides the instrumentation, permitting a dealing to travel straight to a company’s bank. Most of the time, though, a 3rd party are used for merchandiser process. These third parties take the mastercard data on the customer’s behalf through in an elaborate way secured strategies and pass it to the seller or the vendor’s bank. These firms ar intermediaries UN agency use technology to secure the information provided by the client. Some on-line services provide a vendor’s electronic computer a kind page within which the client would be needed to enter mastercard data. the cardboard process company would then act with the mastercard company with regard to the dealing. The payment would then be transferred to the vendor’s account on their behalf, once deducting some fee for rendering the services.

  • Ihor Mochernyak
    Ihor Mochernyak
    September 23 2016, 11:29AM


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