The Importance of the Rate Lock

IMPORTANCE OF THE RATE LOCK SHAMEFUL CREDIT CARD PROCESSOR TACTICS YOU SHOULD KNOW Credit card processors create a brand name, and when the complaints pile up, they change their name and proceed to do business again with a clean slate. BRAND NEW BRAND COMPLAINTS Find the newly named company on BBB.org or RipOffReport.com to see if their address matches their past company's headquarters. Check and Research the verify their physical address on websites. company's LinkedIn page to find their current employees. Another tactic is to call themselves "Merchant Services" which is a generic name, so you never know who you're dealitng with. YOUR RATES MAY BE INCREASING Credit card The only requirement is processors can raise your rate at any time, even if you're in a 241 notification, which many discretely do via your monthly statement. contract. As long as you are notified, credit card processors can change any rate, fee or even add new costs to your account. In spring of 2015, the rates of various credit card processors will rise due to increases from the card associations. IPAYMENTS new interchange updates for April 2015. EXAMPLE April 2015 iPayments implemented a 1bp increase to merchants priced at 0.10% or lower on bump over interchange and a 0.20% increased transaction fee to merchants Credit card processors such as Cayan, North American Bancard, Sage Payment Solutions, iPayment, and Total will raise their customers' rates. priced at 0.10% or higher. iPayments transactions fees will increase by $0.02. SAGE new interchange updates for April 2015. Sage will add a $0.035 address verification fee to all AVS transactions. Merchant on Cost Plus BET will be updated and will see increases on variable transactions. Even with a contract your processor can increase your rates at ANY time. THE LEAP PAYMENTS RATE LOCK How is Leap Payments different from competitors? Leap Payments offers all business clients a guaranteed lifetime rate lock. What is a rate lock and why is it important to businesses? A rate lock is a rate that stays the same and will never change. You'll never see surprise increases so you'll be confident that you chose the right credit card processor. LEAP PAYMENTS RATES WILL NEVER GO UP "Rate creeps," or slow Credit card processors know that most buinesses don't understand their monthly statement so they can change whatever they like. increases on your rates, are a common industry tactic. WHO ELSE OFFERS A RATE LOCK? NO ONE, ONLY LEAP PAYMENTS LEAP PAYMENTS Souces: http://www.leappayments.com/ http://www.leappayments.com/rate-lock/ http://www.leappayments.com/steady-rates-with-lifetime-rate-lock/