Ep 25 What are merchant services? Is my business overpaying in fees to process credit card payments?
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What are merchant services? Leslie Riggs works with a company called Propelr, who are the founders of card connect, and she is going to explain what business owners need to know about the technology they use every day to process credit card payments. In a nutshell merchant services looks at HOW a business accepts payments. In the old days you could use cash or sometimes a check, but today in the modern age we have a much larger selection to pay for things, the most common being debit and credit cards. We are even seeing more people paying for things with crypto so there's all these different options available to customers to complete their purchase. In order for the business to accept that payment they pay a fee to utilize the service to charge the card. The process can be complicated, expensive and inefficient so what Leslie Riggs does is talk to business owners about how they can keep the cost down, make the process as efficient as possible, optimize the technology, and reduce things like error and frustration. After meeting with clients, Leslie will offer a free review of their processes to see how and where they're accepting payments and identify hidden costs and fees that can be eliminated.
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