By -
Credit Card / ACH processing integration example using PHP now available on my blog: http://ping.fm/8HLcT

Comments

Post a Comment

Popular posts from this blog

TRANSAX @ TRANSACT18

By -
Image
TRANSAX is proud to be an exhibitor at TRANSACT18 in Las Vegas April 17th through April 19th. Swing by BOOTH 225 and see what we have in store for 2018 and beyond. For individual meetings with TRANSAX leadership, please call 866-513-1547 to setup an appointment. See you there.
Read more

Merchant Account Cancellation Fees

By -
It is a standard practice in the industry to charge an early termination fee. This is understandable - considerable time and effort goes into underwriting and boarding a new account, time is spent on customer service, etc. An early termination fee is a way for a merchant account provider to make sure they will recoup their initial investment into a new merchant account. These fees are usually range from $200 - $500 depending on the provider. However, some entities enact extremely unethical early termination fees. For example, some merchant account providers will charge a mutliple on the earnings from the largest volume month over the past 12 months. Some providers will go so far as charge a multiple on their profit + interchange + dues and assessments! Two examples that I have encountered: 1) Big Bank - I had a merchant processing with this bank. They wanted to cancel, and were prepared to pay what they thought was a $295 early termination fee. They receive a communication from the ban...
Read more