amspcs
576 posts since
Oct 18, 2007
2.
Re: Visa announces fee increases effective July 1 Jul 18, 2009 10:36 AM
in response to:
phanio
Thanks for the reoly, Phanio. Yes, changes are on the hoizon from Uncle Sam...stay tuned.
A couple of clarifications:
Merchants already have, always have had, the ability to shop around and negotiate processing fees.
The problem is: Merchants who don't know what they're doing and don't take the time to learn get
themselves in trouble by 'negotiating' themselves into lousy more expensive processing deals then they had before.
The solution is to learn and understand the concept of "interchange" as well as the other finer points of processing. How does interchange work? Net vs gross processing? Mid and non qual bumps. Daily vs monthly. That sort of thing.
In short, "lowest fees" and "lowest cost" are NOT the same thing. In fact, they are very different, often
exact opposite concepts.
Anyone who has questions on this subject is welcome to email me.
AMSPCS
amspcs@juno.com
