MERCHANT ACCOUNT NIGHTMARES: THE SHADY WORLD OF CREDIT CARD PROCESSING FEES
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Course Details

Overview of Topics

  • Our Background2 mins
  • Top acquirers processing bank10 mins
  • An alternative format of reporting24 mins
  • Why do companies change processors?30 mins
  • What your staff need to be adapt at?40 mins
  • Grading your account47 mins

Course Description

Merchant services, like payment processing, are vital for businesses today. Whether you’re a brick and mortar business or you conduct most of your business on the world wide web, the ability to accept multiple forms of payment enables you to remain competitive in today’s global economy, as well as locally in your community. In-spite of being so vital, every merchant is probably a little unhappy about the fact that they have to go through the hassle and expense of setting up a merchant account just so their customers can use credit cards. Having to pay the credit card processing charges every time a customer uses a card makes it even worse.

Deceptive statements, hidden fees, and broken promises are all too common in the world of credit card processing. The industry is notorious for taking advantage of merchants. If your business processes credit card payments from customers and clients on a regular basis, this webinar will help you to: 

  • Identify how much you are being overcharged on your processing fees.
  • Identify whether you're being gouged or, more rarely, getting a square deal.
  • Identify the hidden fees in credit card processing services. 
  • Various ways of saving dollars your credit card processing free

Webinar Qualifies for

  • 1 CPE credit of Business Management & Organization for all CPAs
  • 1 CPE credit of Canadian CPAs
  • 1 General Educational credit for Tax Professionals/Bookkeepers/Accountants

Learning objectives

  • To examine several common merchant account statements and show you where the excess fees are hiding
  • To discuss the risks and pitfalls of going out to bid for your credit card processing business
  • To highlight the proper approach to managing an efficient merchant account

About Presenter

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.

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.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:45
  1. Credit card industry is totaling nearly _________ per year.
  2. Every credit card processor uses:
  3. Which one of the following is the second largest credit card processor?
  1. Credit card transactions are more and more _______ transactions.
  2. Who is the biggest credit card processor?
  3. Which one of the following is the problem with credit card processor statements:
  4. Improving the Effective Rate requires deep understanding of:
  5. Verisave report card identifies:

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.5
(244)
62%
30%
7%
1%
0%
  • TM
    Tina McCollam
    Oct 19th 2020
    Very enlightening.
PZ
Patricia Zafian , CPA
I was one of the people who answered N/A to everything, as I am an employee, and do not have business credit cards myself. But I have seen statements that clients have provided, and this helped to interpret those....to the extent that they are interpretable without a microscope! I'd have a better way to answer client's questions, and provide suggestions if they balk at their statements. I will point the seminar out to the owners of my firm. This was useful.
JT
Joseph Tomczyk , CFP, EA, EA, CFP
LOVE IT!
CB
Constance Byers , CPA
Good overview of the complexity of cc processing fees
DM
Diane Mahoney , EA
Very informative.
TL
Tony Leung , CPA
Very informative webcast!

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.

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  • Cost FREE
  • CPE Credits 1
  • Subject Area Business Management and Organization
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date September 16 ,2020
  • Published Date September 16 ,2020
  • Who should attend? Finance Pros Bookkeeper Accountant CFO/Controller CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm Accounting Firm CPA (Industry) Tax Firm Young CPA Entrepreneurial CPA Tax Accountant (Industry) Senior Accountant VP Accounts Cloud Firms Accounting Managers Staff of Accounting Firm
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

GENERALLY ACCEPTED GOVERNMENT AUDITING STANDARDS: THE NEW YELLOW BOOK (LATEST FOR NON-PROFIT)
Thursday, October 15, 2020 View Details/Register
CUTTING THE GORDIAN KNOT: ECHECK FRAUD, MOBILE BANKING FRAUD, CHECK 21 & HOLDER IN DUE COURSE
Tuesday, October 13, 2020 View Details/Register
CYBERSECURITY BASICS FOR ACCOUNTING & TAX COMMUNITY
Monday, October 12, 2020 View Details/Register
Ethics for Wyoming CPAs
Friday, October 09, 2020 View Details/Register
CYBERSECURITY ESSENTIALS FOR TAX PREPARER
Friday, October 09, 2020 View Details/Register
FORENSIC ACCOUNTING : VALUE ADDED SKILL FOR EVERY ACCOUNTANT
Thursday, October 08, 2020 View Details/Register
TAX FIRM MARKETING: 5 ESSENTIAL DIGITAL STRATEGIES FOR UNCERTAIN TIMES
Thursday, October 08, 2020 View Details/Register
COMPREHENSIVE GUIDE TO IDENTITY THEFT WITH CASE STUDIES
Thursday, October 08, 2020 View Details/Register
UNDERSTANDING FRAUD, THE BASICS
Wednesday, October 07, 2020 View Details/Register
NEW CYBER FRAUDS & CYBERSECURITY INTERNAL CONTROLS (POST PANDEMIC)
Wednesday, October 07, 2020 View Details/Register
Accounting Changes and Error Corrections (2 CPE)
Thursday, August 27, 2020 View Details/Register
Corporate External Financial Reporting Decisions
Tuesday, September 29, 2020 View Details/Register
Internal and System Controls
Tuesday, September 29, 2020 View Details/Register
Common Issues with Financial Ratio Analysis
Tuesday, September 29, 2020 View Details/Register
PRACTICAL QB TRAINING - YEAR END CLOSING, ANALYSIS, BEING TAX/AUDIT READY
Friday, September 25, 2020 View Details/Register