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Credit card transactions are skyrocketing: Let's get smart about it

  • ACCT/BK
  • CPA (CA)
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • CBA/MCBA
  • CFIRS
  • CWS

Published: October, 2021

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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

  • The processing industry is in recovery mode.
    11 mins
  • A client in broadcast media industry.
    22 mins
  • Why aren't businesses addressing this?
    28 mins
  • Cost optimization done right.
    34 mins
  • Merchant account optimization is complicated.
    38 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.

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

While the current environment is no time to ignore cost-reduction projects, many businesses nonetheless will avoid or abandon these efforts in the coming year. Unfortunately, this neglect is especially true around credit card processing fees—even as transactions skyrocket following a year of decline. In this CPE webinar, Jeremy Layton will help us discover at current market conditions that have created a perfect storm of higher processing fees at a time when accounting teams don’t have time to manage them. As the economy ramps back up, cost reduction needs to be taken seriously. Join this webinar and learn how to effortlessly manage these projects.

Learning Objectives

  • To summarize current market conditions and their strain on accounting team bandwidth
  • To identify why many cost-reduction projects are abandoned
  • To determine the growing trend of credit card transactions post-pandemic
  • To list tips for effortless management of cost-reduction projects

Recommended For

  • This CPE course is recommended for CPAs, CVAs, CMAs, CFAs, and Other Finance Professionals as it will give them insights on advising the clients on how to significantly reduce the credit processing fees and will help them in being a valued advisor. 
  • This CPE webinar will be beneficial for CFO, Staff Accountants, Director of Finance, Controller as they are always expected to improve the bottom line of the company.

Who Should Attend?

  • Accountant
  • Accounting Managers
  • Assistant Controllers
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • CEO
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Finance Pros

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 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 (ACCT./BK)

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.
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  • 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

198 Ratings

Excellent

118

Very Good

64

Average

14

Poor

1

Terrible

1

JCJ

Jojo Chuk Joannak1128@gmail.com, CPA (US)

Apr 9th, 2022

0

JB

Joyce Bailey, CPA (US)

Mar 26th, 2022

Great job Jeremy! Your presentation was easy to follow, made great points, provided quality analysis of the overall impact in the economy. I commend you for your commitment to long-term. There is much pressure from banks to set up as many customers as possible on the "visa" payment program; why would anyone do that? I am a former employee of a cc processor and accuracy is not a core value.

JH

July Heng, CPA (US)

Mar 1st, 2022

Very informative on credit card fee update

TH

Thuong Hoang, CPA (US)

Feb 16th, 2022

good

MA

Megan Austin, CPA (US)

Apr 7th, 2022

n/a

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