I've been working with restaurants to provide payment services since 1989 (back then, if you can remember, most restaurants were making manual imprints of credit cards and depositing sales draft slips with a teller).
A lot has changed and while the technology has made things more efficient at the point of sale, it has also created new challenges (think data security compromises and different Interchange rates for every card type).
With little barrier to entry, just about everyone can represent that they provide merchant services (oh, and can lower your rate). Unfortunately for us all, most don't have much experience or training. The complexity of the payments industry is packaged in the simple form of a "rate as low as".
If you've been caught up in chasing the elusive better deal, I've posted an article on Work.com titled a "Guide to Merchant Rates, Shopping Merchant Account Rate Quotes" that may be of interest to you.
I also operate various web properties for my company, Vantage Card Services. VantageCard.com provides educational resources and information on the credit and debit card processing industry as well as payment technology, gift card and payroll card services for restaurants. MerchantRates.com is calculator application that delivers an instant proposal and Interchange rate quote for MasterCard, Visa and Discover. myRealRate.com is a rich internet application that can help you calculate what you are really paying for merchant services and then benchmarks your cost against other restaurants of similar size.
I look forward to contributing, attempting to add value and making myself available as a resource to the FohBoh community.
(800) 397-2380 x14
(404) 784-5095 Mobile
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