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10 Secrets the Credit Card Processing Industry Doesn't Want You to Know

  • ACCT/BK
  • CPA (CA)
  • CFP (US)
  • CMA
  • CPA (US)
  • CA - ICAEW
  • ACCA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: December, 2019

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Case Study: How hidden fees increases
    10 mins
  • Credit Card Industry Stats
    16 mins
  • History of the credit card
    18 mins
  • Why negotiating better rates is a waste of time?
    30 mins
  • Credit Card Industry Structure
    48 mins

Course Description

Every year, businesses pay approximately $180 billion in credit card processing fees. These fees are convoluted, confusing, obscure, and often misleading. Credit card companies make money off cardholders in a wide range of ways and their income has been experiencing solid growth for years. They charge for

  • Interest Income 
  • Interchange Fees
  • Cash Advance Fees
  • Annual Fees
  • Penalty Fees
  • Enhancement Income

Credit card companies made 163 billion of these Incomes in 2016 from Businesses & Individuals. This money comes from the bank account of a business that happens to be your client or whom you work for. In this session, we will look behind the curtain of the credit card processing industry and show you how the card brands and banks operate, common red flags that could complicate your fee structure and ways that you can reduce or eliminate unfair or inflated processing fees within your merchant account.

RECOMMENDED FOR : 

CPA or Accountants or Tax Professionals: This webinar will give you insights on advising your clients on how to significantly reduce your credit processing fees and will help you in being a valued advisor. 

CFO, Staff Accountants, Director of Finance, Controller: you are always expected to improve the bottom line of your company, this webinar will help you in understanding step by step how you can really reduce your company’s credit processing fees up to 50% and that too without switch processor.

Learning Objectives

  • To attain knowledge of the credit card processing industry.
  • To identify various steps of reading your merchant statement.
  • To identify where your surcharging fees are going.
  • To identify various steps you can take to reduce your fees.
  • To recognize how much you're being overcharged.

Who Should Attend?

  • Accountant
  • Business Owner
  • Certified Financial Planner
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Finance Director
  • Outsourced CFO
  • VP Finance

Course Qualification

Webinar Qualifies For

  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 1 CE Credit of General Principles of Financial Planning for Certified Financial Planner (US) (Approval No. 298678)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 1 CPD Credit for Chartered Accountants - ICAEW
  • 1 CPD Credit for Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Jeremy Layton

Chief Executive Officer (CEO), Verisave

Jeremy Layton started Verisave back in 2001 with the service of identifying and collecting overpayments made by their customers to their suppliers. In 2010 Jeremy noticed that most of his customers were paying a lot of money to process credit card payments. After digging a little deeper, he found that most of his customers were actually paying much more than they needed to and Jeremy was determined to help them reduce these fees. Over the past 10 years Jeremy has become an expert in all things relating to the credit card processing industry. In fact, Verisave saved its customers over $30 million on credit card processing fees.

About Company

Verisave

www.verisave.com

Verisave is a seasoned auditing company that helps organizations identify and eliminate excess merchant processing fees. Since 2002, the Verisave team has served clients throughout the United States in a variety of industries by providing clarity and transparency in a complicated area of business. Our team of processing industry experts brings experience and knowledge to the table with one goal–to identify and implement measurable savings for your business.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.5

806 Ratings

Excellent

479

Very Good

255

Average

61

Poor

6

Terrible

5

PA

Pamellia Anthony

Sep 29th, 2020

I am an Enrolled Agent and was curious about this class. The information was easy to understand and if I was an accountant, I'd request that all my customers at some point consider having an Audit firm review their accounts if they accept credit cards.

BM

Brian Murphy, CPA (US)

Apr 8th, 2020

Very interesting information shared by Mr Jeremy Layton about the processing fees charged by the credit card industry in the businesses. It was very informative, and I will talk with my clients regarding this. Thank you, Mr. Layton!

CB

Chris Bell, CFP (US)

Mar 24th, 2022

kl

JH

July Heng, CPA (US)

Mar 2nd, 2022

Very informative

TH

Thuong Hoang, CPA (US)

Feb 25th, 2022

good

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