Checks, Charges, and Changes

We always like it, here at the AVPS blog, when pieces of “separate” financial news combine to make a single, bigger story, or to provide a trendline.

That’s happened again this summer, when a story about checks — and then another — caught our eye. The first was an article written in anticipation of an upcoming report from the Federal Reserve, which charts consumer payment habits.

A Guide to the Strawhecker Group’s Swipe Fee Graphic

The Strawhecker Group is an advisory/consulting group for us in the Payments Industry. And they’ve recently come up with a compelling infographic explaining swipe fees — what they are, and where they go.

How Will Credit Card Fee Changes Affect Consumer Credit Card Use?

Or  will they? As a follow-up to last week’s post about the late-in-the-year settlement on card fees, and how those might affect both merchants and consumers, comes this additional item in the Washington Post. 

Tips for Choosing the Best Payment Merchant Service Providers

To maximize their selling power, many businesses contract with a merchant service. But how much a business benefits from a merchant service involves more than payment options. It also involves how merchant services operate: with professionalism and foresight, or with ineptness. An inept service can jeopardize its clients’ revenue in several ways; particularly concerning charge back fees and customer defection. Below are six tips for avoiding these types of providers.

Finding the Best Payment Merchant Service Providers

When choosing between payment merchant service providers, make the decision on more than just the quoted price. Obtaining a competitive rate is important to your business profitability but should not be the only decision factor. Selecting a merchant service on cost alone can lead to unbearable future expenses. It can be difficult to gain a complete understanding of this detailed process. This in turn reduces the chances of striking a good deal with providers.