Welcome to FeeSlicers University! Exposing the merchant services industry, one merchant at a time!
Take the time to learn about the merchant services industry and slice your processing fees forever!
Lesson One: The Processing Ecosystem
In this lesson we will follow a transaction from the credit card to your bank account. We will explain all of the steps in between. You will be surprised at just how complicated this process has become. Understanding this ecosystem is a very important first step in slicing your merchant processing fees for life!
Lesson Two: Interchange Makeup
In lesson one we learned that a huge chunk of the transaction fee is taken by the Big Card Brands (Visa, Mastercard, Discover, American Express) through an interesting system called Interchange. In this lesson you will learn all about Interchange and how things got to be this bad. With cards falling into hundreds of categories, we will guide you through the convoluted mess that is the backbone of the merchant processing industry.
Lesson Three: Pricing Methods
Now that you have a real good idea of what is involved in the transaction cycle, let's take a look at the pricing methods that are used to provide these services. In this lesson, you will learn all about the various pricing methods that are deployed in the industry. Some good and some are just plain deceptive!
Lesson Four: Processing Methods
Now that you have a handle on what makes up a transaction and all of the pieces in between, let’s take some time reviewing the various methods of accepting credit cards, from traditional credit card terminals to accepting payments on your mobile device.
Lesson Five: Aggregation
You've heard of PayPal, Google Checkout and Square but do you know what makes them different from a traditional account? In this lesson, you will learn about aggregation and why it may not be the best solution for your business.
Lesson Six: PCI Compliance
As the electronic payments industry continues to grow, the risk of security breaches increases. PCI Compliance is aimed at fighting the risk. In this lesson, you will learn all about compliance and what it means to your business. We will explain the various levels of compliance and provide some tips on what to look for and what to avoid when choosing a merchant account provider.
Lesson 7: Software Tactics
Buyer Beware! Choosing the best software solution for your business is crucial to your success and software companies know how important this decision is to you. In this lesson, you will learn about the sneaky games the software companies are playing to obtain your merchant account.