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

  • Accountant
  • CPA (CA)
  • CFP (US)
  • CMA
  • CPA (US)
  • CVA
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

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 company made 163 billion of these Incomes in 2016 from Businesses & Individuals. This money comes from the bank account of business who happens to be your client or whom you work for. In this live webinar, 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. 

This online CPE webinar covers following key topics:

  • History of Credit Card and credit card processing industry.
  • Credit card industry: Understanding the structure.
  • Understanding the fee structure and who benefits from these fees.
  • How to mitigate fees without changing the credit card processor.
  • What is surcharging? And is it legal? Benefits and Drawbacks of credit card surcharging.
  • How surcharging should be done? DIY or basic methods that can help you reduce your credit card fees.
  • Merchant account audits – the higher saving approach.
  • How Merchant account audit proves to be beneficial for different Industries?
  • Involvement of different entities in Merchant Account Audits.
  • Understanding of Ideal Audit Process.
  • The working process of Verisave to reduce credit card surcharges.


CFO, Staff Accountants, Director of Finance, Controller are always expected to improve bottom-line of your company, this CPE 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 the knowledge of the credit card processing industry
  • To identify various steps of reading your merchant statement
  • To identify where your surcharging fees is going
  • To identify various steps you can take to reduce your fees
  • To recognize how much you're being overcharged

Recommended For

  • 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.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeeper
  • Business Owner
  • Certified Financial Planner
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • Entrepreneurial Accountant
  • Finance Director
  • Outsourced CFO
  • Staff of Accounting Firm
  • Tax Professionals
  • VP Finance
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of General Financial Planning Principles for Certified Financial Planner (US) (Approval No. 273031)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 1 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • 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

Advisor, 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.
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  • 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.
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  • 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.
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Ratings and Review

4.4

3168 Ratings

Excellent

1714

Very Good

1091

Average

294

Poor

40

Terrible

29

BS

Bonnie Sauve, EA

Nov 23rd, 2020

I work for Intuit as a Tax Expert preparing returns for self-employed clients. They need to know about the fees that are added on in addition to the 3% fee for offering the VISA or MC to their clients. Someone who paints my house will allow me to charge the amount by tacking on an additional 3% to pay for their fee. They don't know about the processors fees.

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.

NB

Norman Benoit, EA

Feb 1st, 2021

I found this topic very interesting. I am going to approach 2 of my clients with the largest Credit Card usage to see if they would appreciate having an analysis performed on the their Merchant accounts. Novel approach to Merchant accountability.

KD

Kym Dinehart, CPA (US)

Jan 18th, 2021

Data presented was informational but presenter didn't go into details as to how companies can edit set up with interchange to impact reduce their interchange fees. Info was really high level.

BM

Brittany Montgomery, CPA (US)

Dec 21st, 2020

Great webinar, learned a lot. I don't directly deal with this side of AP/AR in my current role but still helpful to learn and applicable if I move into a role on that team in the future.

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

FREE

1 Credit

Subject Area

Finance

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