August '19

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16 THE SHOP AUGUST 2019 qualify your transactions at the lowest possible rate. Even greater savings can be achieved with Level III interchange. This is unique to business and purchasing cards. Lowering the rate to this level requires a substantial amount of data to be submitted, usually from a specialized gateway. 3 Settlement Times Setting your terminal up for auto-settlement is a quick update to any piece of equipment and can help improve your situation immediately. Many merchants have not been taught that leaving transactions unsettled in a terminal for more than 24 hours actually makes those transactions cost more. Except for in very unusual circumstances, your processor should set your equipment to auto-settle at the same time every day. 4 Right Tool for the Job While the credit card terminal is still the standard means to accept a card payment, there are numerous other solu- tions, frequently unique to an industry. There are systems designed to accept credit cards specifically for e-commerce businesses, and systems that are designed just for restaurants. Other systems are designed to operate in a business- to-business environment, or for companies whose primary sales are recurring monthly payments. Just because the terminal you've been using for the last five years technically works, that doesn't mean it's the best fit for you right now. We recommend continually working with your credit card processor to learn what options are available to you, and to ensure that you're using the solution that can offer you the lowest rate qualifications and other helpful functionalities. STAY ENGAGED While these are some general ways you can lower your rate and control your costs, the most important thing is to stay engaged. Just because you've always paid certain fees, doesn't mean those are fees you should still be paying. SHANNON WALCOTT is a Senior Sales Executive for BASYS Processing, which offers a free savings analysis to businesses regarding lowering credit card rates. Email, call (800) 386-0711 and ask for Shannon Walcott, check LinkedIn or Twitter, or visit www. for more information. Best practices can help you reduce credit card processing costs and improve your bottom line. Part# X402BT Lid Seal Part# X1663BT Fender Flare Trim HEADQUARTERS 6855 HERMOSA CIRCLE BUENA PARK, CALIFORNIA 90260 MIDWEST MANUFACTURING 1642 GATEWAY COURT ELKHART, INDIANA 46514 WWW.TRIMLOK.COM INFO@TRIMLOK.COM 800-543-8706 CALL US TODAY! Same Day Shipping on Thousands of Parts No Drilling! No Bolts! EASY INSTALLATION Experts in Plastic and Rubber Profile Extrusions TRIMS AND SEALS PEEL & STICK PEEL & STICK NEW! ® C M Y CM MY CY CMY K 2019 TL The Shop ad one 5-20.pdf 1 5/20/19 8:49 AM

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