MERCHANT ACCOUNT ANALYSIS

Businesses often rely on a variety of vendors and suppliers to provide the materials and services needed to run their operations. However, it's important to keep track of these expenses and ensure that you are being charged correctly. One way to do this is through merchant statement analysis. Merchant statement analysis is the process of reviewing and analyzing the statements provided by your vendors and suppliers. This allows you to identify any errors or discrepancies in the charges, such as duplicate charges or incorrect pricing. By regularly having your statements reviewed, you can ensure that you are only being charged for the goods and services that you have actually received. The best help with merchant statement analysis is from us: Merchant Statement Analysis. Its our very name! This service  quickly and easily reviews and analyzes  merchant credit card statements. It can save time and reduce errors, leading to more accurate and reliable financial information. A...

Hey there! So, accepting credit cards is pretty much a necessity for any business these days, right? But, the cost of credit card processing can add up quickly. From merchant account fees to chargeback fees, it can be tough to keep track of what you're paying and why. In this article, we're going to break down the costs of credit card processing and give you some tips on how to avoid overpaying. First, there's merchant account fees. This is the fee you pay to the company that sets up your merchant account, which is the account you use to accept credit card payments. Merchant account fees can vary widely, and they can include monthly fees, annual fees, and application fees. It's important to shop around and compare merchant account fees from different providers to make sure you're not overpaying. Next, there's interchange fees. These are the fees that are charged by the credit card issuer, such as Visa or Mastercard, for each transaction. These fees are set by th...

Visa claims that many business owners will experience reduced interchange rates in April 2022. https://usa.visa.com/support/merchant/library/visa-merchant-business-news-digest.html The claim is that  more than 90% of American businesses interchange rates will be reduced by 10%. These changes will take effect April 2022.    We will soon find out how this is implemented.   Will other card associations follow suit?  It has been since before the pandemic that  MasterCard or Discover have done anything significant. As soon as we know you will know.  UPDATE May 16, 2022 Ok so the new rates are out!  Visa did indeed revise rates for merchants processing less than $250k per year on Visa card volume.  This reduced category is called Visa Small Merchant.  However, Visa did increase their Non Qualifying consumer and business cards.  Business owners will definitely want to process in a the right way to avoid getting hit with that charge on...

 Visa has announced they will implement previously postponed interchange rates in April 2021.  You can read the announcement here at: U.S. Credit Interchange Update REGIONS: US 12 November 2020 https://usa.visa.com/support/merchant/library/visa-merchant-business-news-digest.html

LATEST OFFICIAL INTERCHANGE RATES  Here is where you will find the latest interchange reimbursement rates that are available to the public.  Merchant Statement Analysis is here to help you with your statement quote needs.  Just click the Welcome MSA logo to the right of this page to visit our website and get more help.  VISA USA VISA EUROPE   MASTERCARD  MASTERCARD EUROPE WELLS FARGO PASS-THROUGH FEES  WELLS FARGO PAYMENT NETWORK QUALIFICATION MATRIX 

In the last few years, I have personally seen merchant accounts incur more and more monthly fees that have never existed before.  For example: MONTHLY ASSOCIATION FEES (RETAIL)  $0.83 NYCE  $0.75 PULSE  $1.00 STAR  $0.75 JEANIE  $0.67 ACCEL  $1.25  MC annual  $1.25 MC location  $2.00 Visa FANF  $8.50  TOTAL This is like an additional monthly statement fee.  The PIN Debit annual fees are broken out as monthly but represent a $55 annual fee.   Keep in mind this is in addition to other fees that are also going up constantly. Discount Fees Transaction Fees Interchange and Association Fees PCI Compliance PCI Non-Compliance Breach Protection Monthly Statement Online Reporting Therefore no one should be surprised that everyone is paying more than ever to accept plastic.  And dont be surprised that one rarely sees these fees listed in agreements.  Maybe its in the fine print 20 pages in. ...

It has been observed that in recent months some merchant service providers are adding additional charges to their hard costs and passing these onto the merchant.  This is known as "padding". This is why Merchant Statement Analysis is providing a key merchant rate analysis service which reveals these practices and helps businesses save money.

IF YOU ARE LOOKING FOR MERCHANT STATEMENT ANALYSIS FROM THIS QUOTED ARTICLE YOU HAVE FOUND US.   Visit  http://www.merchant-statement-analysis.com  for details. Article originally appeared in The Green Sheet Issue 130101 Merchant Statement Analysis - The Green Sheet :: Company Profile Better approach to statement analysis M any ISOs spend an inordinate amount of time performing merchant statement analyses on behalf of their merchant level salespeople (MLSs). After facing this challenge firsthand, ISO sales and recruiting veteran Chris DuPont decided to build a company that would allow ISOs to outsource this function. He founded Merchant Statement Analysis in 2009 to reduce this ongoing burden for midsize ISOs cost effectively, with accuracy and speed. "Some ISOs have programs in place," said DuPont, who now serves as a Merchant Account Analyst for MSA. "Their relationship managers or their recruiters will do these statement proposals for their agents, but it...

I just found this article that really shows the initial impact of  EMV implementation at retail stores. Business owners will be need help with how to read their merchant statement.  They will no doubt be looking over it closely in the coming months to understand how these changes will affect their rates and fees. This article also highlights that fact that ISOs and banks need to understand and explain interchange fees in a manner that the merchant can grasp as various fees are not simply matter of changing terminals or providing better card security. Read the article here: http://www.nytimes.com/2015/11/17/business/chip-credit-cards-give-retailers-another-grievance-against-banks.html?partner=msft_msn

“How do I know this is really what you’re going to charge me?” This common objection reveals an industry problem: the merchant doesn't fully trust the sales person. If questions persist, they may soon move on to another company, wooed by promises of better rates. Enter Merchant Statement Analysis’ newest service: Merchant Auditing! The concept is simple and effective. The merchant’s current rates and fees are compared with those promised on their original application. The merchant can then see that your company is providing the rates promised, is honest, and transparent. The benefits are well worth the low price point per merchant.   Merchant retention is probably the most immediate result, as happy merchants stay put. In addition, the Auditing service can be up-sold, equaling more revenue to ISOs. This powerful sales tool is exactly what you have been looking for. I f you are looking for the next best thing contact MSA.   www.merchant-statement-analysis.com ...

Would you like to know some of the leading merchant account fee and pricing secrets?  Then get your free copy today.  Visit Merchant Statement Analysis and simply use the contact form to get your copy.

As I am working through statements from day to day, I started to notice that some restaurant locations were paying very steep discount charges. What I discovered was those same businesses were also being assessed a high number of TIFs (Transaction Integrity Fees). Just what does this fee mean and how does can it impact your business? Starting in April 2012, Visa introduced this new $.10 for each debit card that does not qualify for the CPS (Custom Payment Service) interchange rate.  You might be wondering how a debit transaction does not qualify? After all, you are simply swiping the customers credit card, right? Well there are several possibilities.  Transactions are not settled (batched) within 2 days  AVS (Address Verification) is not requested for key-entered sales  Internet sales do not include order number of customer service number  Hotels are not providing all the requested data  Therefore, depending on your b...

As you know Merchant Statement Analysis is always eager to expand our merchant credit card processing statement services. We are excited to inform our readers that we were mentioned today in the publication entitled Payments Source. You can read all about it here: http://www.paymentssource.com/news/Merchants-Get-Help-Deciphering-Statements-3011908-1.html?CMP=OTC-RSS

It can be a daunting task to read and understand a merchant statement. Both Visa and MasterCard are coming out with some pretty significant changes this year – no doubt in response to the Durban Amendment’s impact on the industry. This will cause even more frustration on providing a merchant statement quote to your merchant customers. I like this quote from www.paymentssource.com , “ISOs also have to perform complex analysis and decide quickly whether to mark up the fee to cover the costs it will bring, teach employees the fine points of the new approach, and possibly hire additional help-desk workers to prepare for an expected avalanche of phone calls from merchants questioning or complaining about the fee, he contends.” Are you ready? First let’s talk about VISA’s changes: 1. The Network Acquirer Processing Fee (APF), although still $0.0195 per authorization on credit transactions, will be reduced to $0.0155 per authorization on VISA branded debit cards. 2. VISA deb...

How is your business doing?  That is a relevant question these days.  Many business owners are in a deep freeze when it comes to switching payment processors.  Business is just too uncertain and it seems better to stay put where it seems safe.  No doubt you wish you could find the ultimate merchant account provider, lower your rates and fees, and feel confident that you will be taken care of.  Everything would be just perfect.  The merchant statement would be clear and accurate, the customer service department helpful and friendly, and all questions and concerns would be answered promptly.  Many people have yet to see that. What can you do in the meantime?  Study up to make the best decision for the future. I now have an ebook that will take the edge off and help you to find what you are looking for. Simply visit the link and send us an email to get your free copy today.     GET EBOOK: Merchant Account Secrets Revealed

This question has puzzled many for a long time.  In view of the last few years and the struggling economy, I believe this question is more relevant than ever. This year has had record bank failures!  And this news is not good for our industry. There is increased pressure on merchant service organizations and their agents to perform well and take care of their merchant's like never before.  So when selecting a merchant account provider, what should you look for? You will likely agree that honesty and forthrightness is at the top.  Is the company you are considering willing to disclose all fees including PCI compliance fees, cancellation fees, downgrade fees, and the more recent NABU and APF fees and so forth?  Does the company you choose keep informed as well as keep merchants well informed of rate increases or entirely new fee structures?  This is important since most businesses owners only think of their discount rate.  With each passing year, I hav...

Amazing Upfront Bonuses! Awesome Residuals for Life! Free Leads! No doubt you have seen these ads all over! Just look at The Green Sheet forum and you will see these ads for sure. Yes we've heard it all before. So what is the best agent ISO program these days? Well as far as bonuses and residuals are concerned, it really is about the money. You don't want to work for free do you? And the feeling of making a sale and knowing you will get paid the next day, week, or two weeks makes you feel good. When your residuals climb higher and higher, you feel great! Now let me ask you this: "How do you feel when you talk to the ISO or processor you work with?' Do you feel that you are getting the support you need? Do you get help with pricing quotes, equipment, your merchant's risk issues, continued training. Does your merchant account provider honor the rates and service fees you write on the application; or do they eventually try to bleed your merchant little by li...

We all know it.  Competition is fierce!  Many business owners are likely tired of hearing that we have the lowest rates, or we can provide better support, or even a free terminal.  In fact, many are not bashful telling us the last time they spoke to someone about a merchant account.  So what can you do as a MLS or ISO to differentiate yourself from the rest? Before I answer that question, let's examine the merchant's viewpoint for a moment.  The merchant is either happy with the company they are  processing with or they are unhappy.  I don't think there is anyone who is on middle ground in this matter.   If they are a happy customer, you can talk to them all day long and they are not going to make a decision to switch.   But what about the others?  Why are merchants unhappy with their processing service?  Because someone over-promised and under-delivered.  Here is the key.  Do not tell the customer something ...

I was thinking about our industry and for some reason I always get that image in my head of an egg frying in a pan. Next,  I hear that  all too familiar slogan: "This is your brain on drugs...any questions"  If you work in agent or merchant support with an ISO, are a customer service representative, or even an MLS on the street, I think you will agree that our brains our sizzling just like that egg!  It can be difficult to keep our heads on straight with all daily issues we have to handle. Also consider all the reading we have to do.  We have to keep abreast with new technologies, fee structures and procedures. We are bombarded with phone calls, emails flooding in, and issue after issue.   This can literally cause confusion and fatigue and can be quite stressful to get all the work done on time.  Some have no doubt given up on getting it all done.  Believe me it shows.   For those of you, like myself, who aim to please,  keep...

First of all I want to say that this article is not for merchants but is for MLS and ISOs who understand what I am about to say:  Merchant processing statements are a pain! Now with that out of the way, let's talk about why that is. With credit card interchange rates constantly changing, many agents have difficulty reading and offering a merchant account quote .   How much time do you think you have spent staring at merchant statements while still not being able to offer them a competitive statement quote?  Is the merchant account priced as Standard tiered, Interchange-Plus, or the confusing  Enhanced-Recovery pricing?  How much time has been lost in the sales process during this important step! On the other hand, perhaps you currently work with a processor who  offers a free merchant statement analysis service.  They want to do it, but there are more pressing tasks that must be handled.  I know as I worked for a company for many years as ...