The anomaly of hidden prices is always a point of discussion for any paid service that you take. When you are looking for a merchant service provider for your business then it is necessary that you are aware of allhidden prices associated with your agreement. Cost, as always. Is the primary deciding factor behind choosing a particular merchant service. We talked with some experts from TD merchant services to understand the problems related to prices when it comes to merchant service providers:

The most common frustration: Business owners are always frustrated about the fact that they are not receiving the amount they were supposed to receive from their sales while using a certain merchant service provider. This is the amount that might have been promised to them by the sales executive of the merchant service provider. The primary reasons for this frustration are the following:

Inadequate understanding of the services provided by the merchant service provider and the pricings associated with it.

The sales person may have been deceptive. This is likely to be true as sales persons are trained to be deceptive. Their main job is to take care of company profits which they achieve by selling the service to the business owner.

The Case of interchange Costs:
The entire merchant industry is rife with numerous terms that can be very confusing. The idea is to understand the fact that the rate you are paying will fluctuate with the type of card that you are using. This is because different cards will have different interchange costs. Again, depending on the company this may vary. Like VISA and MasterCard will always have different interchange rates.

The salesperson:
A deceptive sales person can spoil your understanding about the pricings. He may quote you a rate of around 1.15% per transaction high risk merchant account. But he will not mention the fact that this rate is applicable only when the card is swiped. E-commerce does not rely on swiping of cards.

Avoiding the Problem:
This problem can only be solved with a bit more patience and understanding of interchange rates. Referring to experts on this topic is always advisable. Whenever you hear a pricing that sounds too good to be true then follow your common-sense and do not use the services of such a company. Also, ensure that you read all the offer documents carefully before proceeding with the agreement.