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Live Webinar

90-minute live streaming program
  • October 28
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Course

Minimizing Credit Card Processing Fees

October 28

Learn how to avoid hidden fees and control credit card processing costs.

Nearly every merchant today must accept credit cards to run a successful business. That said, few merchants, if any, have ever been trained; on how to open a merchant account. Since all merchant account agreements are a minimum of three years, making a mistake in this area of a merchant’s business will not only be costly, it will create unnecessary pain for the business owner. This topic will provide vital and enlightening information to help new merchants open a merchant account, and will help merchants who already have a merchant account and are thinking about switching suppliers, looking for ways to decrease costs and to protect themselves from credit card scams.

Learning Objectives

  • You will be able to identify what solutions/technology your business should consider to control processing cost.
  • You will be able to recognize how opening a merchant account will avoid hidden or costly fees.
  • You will be able to discuss how to reduce risk and fraud.
  • You will be able to explain pricing and how interchange works.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Payment Processing 101 and Definitions
The Transaction Cycle
Why Merchants Should Accept Credit Cards
Tips on Opening a Merchant Account to Avoid Hidden or Costly Fees
  • Hidden Costs of Payment Processing
  • What to Watch for in Your Merchant Account Agreement
  • Tech Support and Customer Service and Why They Are Important
What Solutions/Technology Should Your Business Consider to Control Processing Cost
  • Dual Mode Credit Card Terminals
    • EMV and Apple® Pay
  • POS Systems
  • Virtual Terminals; Wireless Terminals
  • Smart Phone Solutions
  • Lease vs. Purchase
Pricing and How Interchange Works
  • Who Makes Money on Your Merchant Account?
  • Factors That Drive Interchange Costs
  • Components of Credit Card Processing Fees
  • How to Determine Real Cost for Accepting Credit Cards
  • Managing Processing Costs
    • Interchange Plus vs. Tiered Pricing
    • How and Why Downgrades Occur
    • Best Practices in Downgrade Avoidance; Preventing Charge Backs
How to Reduce Risk and Fraud
  • Tips on Card Present Transactions
  • Tips on Card Not Present Transactions
  • Additional Items to Consider
Becoming PCI Compliant
  • What Is PCI; What's Required
  • Potential Fines; Real Case Study
Other Payment Solutions to Consider
  • Gift and Loyalty Cards
  • Check Programs
  • Electronic Secure Invoicing
  • Recur Pay; Advance Cash
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on August 14, 2012.

Call 1-866-352-9540 for further credit information.

No Credit Available

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, controllers, accountants, tax managers, accounting managers, CFOs, directors, operations managers, bookkeepers, lending professionals and consultants.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Niles D. Crum

Niles D. Crum

NDC Payment Solutions

  • President and owner of NDC Payment Solutions
  • Entered the payment industry in April 2007
  • Earned “Rookie of the Year” for PayPros, an industry leading company in payment processing
  • Known as an interchange expert in the payments industry
  • Has boarded over 700 merchants personally and mentors sales agents across the U.S.
  • Processor for IFDA (The International Foodservice Distributor Association); The Proponent Group, whose members include the who’s who in golf instruction (including Mike Bender PGA Teacher of the Year); several buying groups and merchants across the U.S.
  • Quoted several times in the Greensheet, the industry’s top trade publication
  • Can be contacted at 630-935-7416 or [email protected]
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407845
Published 2012, 2020
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