A Deep Look at Contractor Merchant Services from a Market Leader in the Business Jaron Rice
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A Deep Look at Contractor Merchant Services from a Market Leader in the Business Jaron Rice
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In this episode, Gary talks with Jaron Rice, founder and CEO of Magothy Payments.
Jaron talks about how he got into the payments industry specifically focusing on home improvement and home services contractors. He then gets into “effective rates” and how to properly calculate them. Jaron discusses funding delays and the ways to avoid them.
The conversation then moves to chargebacks, how long a contractor is liable, some things contractors can do to prevent a chargeback from happening in the first place, and what a contractor merchant can do to increase their likelihood of winning if they do happen.
Finally, Jaron talks about the workarounds when a contractor merchant’s CRM has their own processing or an exclusive partnership with a merchant services provider. This is a great episode for all contractors who accept credit cards.