Comments on: 10 Things Your Credit Card Processor Doesn’t Want You To Know

By: Martin Lindeskog

Martin Lindeskog — Sun, 06 Apr 2008 21:01:48 +0000

Chris,

Thanks for your comment. I agree with your assessment. As a general rule, it is better to own the equipment, but sometimes it could be practical to pay over longer time, with service included. Some kind of equipment gets out dated quicker than other things and then it could be safer to rent it and upgrade to a newer model later on.

By: EJMalyn

EJMalyn — Wed, 26 Mar 2008 01:20:28 +0000

Working with a large restaurant chain, I can certainly vertify what Kevin has shared, but must admit that alot shared I was not aware of. The chain I work for gives no options of credit or debit—just credit. My question to Kevin is why no options are given as far as credit or debit? The majority of restaurant chains tend to go just credit. Thanks for the share Kevin.

By: Chris

Chris — Thu, 20 Mar 2008 18:36:37 +0000

This was a very “user friendly” explanatory interview. I truly appreciated that. And the discussion was a very frank one, and I also appreciate that kinda straight talk.

Martin, after listening to the information contained within this interview, I’d have to say that purchasing the equipment is clearly wiser than leasing it and paying loads more than it’s value over the length of time. So keep that in mind when the time comes for you and your business to consider this.

And it doesn’t really surprise me to hear of the deception by omission that takes place either. You really do have to rely upon yourself these days, to educate yourself and to make yourself aware, before getting involved in anything nowadays. Sad but true.

By: Amanda

Amanda — Thu, 20 Mar 2008 15:07:01 +0000

Lots of good information about rates and contracts. This interview gives a lot to think about when considering accepting credit cards. There is a lot of benefits to accepting credit cards but it can be frustrating to deal with processors. Thank you Kevin for the great advice.

By: Martin Lindeskog

Martin Lindeskog — Thu, 20 Mar 2008 12:16:02 +0000

When do you think micro payments will be implemented in greater scale? We don’t have a credit card option at our place yet. It cost a bit to buy / rent the credit card gadget (“swiping” the cards) and then it is a percentage or fee on every transaction depending on if it is a debit or credit card.

SMS payments by mobile phones are pretty popular here in Sweden. For example, you want to read an article in a tech magazine and you send a SMS to a number and your mobile account get charged.