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We've Been Deceived: Credit Card Processing Fees Are Out Of Control

  • ACCT/BK
  • CPA (CA)
  • CFP (US)
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • ACCA
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • 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

  • Credit card history.
    6 mins
  • Semi-Annual Updates
    17 mins
  • How you get notified.
    20 mins
  • Acting with impunity.
    25 mins
  • When merchant accounts go wrong.
    46 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.

Twice a year, Visa, Mastercard (and sometimes American Express) change the rules about how credit card processing fees are calculated. Sometimes, those changes can make a big dent in your profitability, and the updates that took place in April of 2021 were both drastic and deceitful. 

In this CPE webinar, we will discuss some of the strange tactics the card brands use to increase your merchant account fees and how other parties involved tend to abuse these rule changes. For any business that accepts credit cards, these fees are constantly on the rise.  In many cases, those fees can be avoided or reduced with the proper expertise.

This online CPE webinar covers the following key topics:

  • 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.

Learning Objectives

  • To determine the nature of the credit card processing industry
  • To recognize the cycle of processing fee updates
  • To summarize the history of interchange and other fee increases 
  • To identify ways in which these fees can be avoided or reduced

Recommended For

This online CPE webinar is recommended for CPA, CMA, CVA, and all the finance professionals involved in managing the business finance.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Assistant Controllers
  • Business Owner
  • Certified Public Accountant (CPA)
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Director
  • Finance Pros
  • Finanical Analyst
  • Staff of Accounting Firm
  • Young CPA

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 CE Credit of General Principles of Financial Planning for Certified Financial Planner (US) (Approval No. 299100)
  • 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)
  • 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

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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.
  • 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

237 Ratings

Excellent

139

Very Good

82

Average

15

Poor

0

Terrible

1

JCJ

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

Apr 12th, 2022

0

ABO

Abosede Bose Odueke, CFP (US)

Apr 19th, 2022

Excellebt presentation. Learnt a lot.

TH

Thuong Hoang, CPA (US)

Feb 16th, 2022

good

SS

Susan Schreiner, EA, CFP (CA)

Feb 8th, 2022

Interesting subject. Would like to know the company size (amount of services paid by ccs each month) as I suspect I am way too small. But this will definitely help me keep an eye on fees and charges. Thanks!

MS

Matthew Sullivan, CFP (US)

Apr 20th, 2022

Getting to the test was not easy nor intuitive

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