Automotive industries (auto repair, dealerships, paint and body shops, tire stores, towing services, and aftermarket services) face a unique set of challenges when deciding to process payments. Compared to retail or restaurant, the average transaction is usually a lot higher with costs ranging from $50 to over $10,000 dollars. Auto insurers will often cover much…
1. Payment Gateways Are Not Merchant Accounts For simplicity gateways and merchant accounts are often bundled together and assumed by new businesses to be the same service. Merchant accounts actually allow you to accept credit cards and provide an account where funds can be deposited and fees charged. The merchant account and its acquiring bank…
The other day I spoke with a new small restaurant owner who had just started his business a few months ago. After talking a bit about the credit card processing industry he opened up to me about the struggles he was having and things he wished he had known before they became issues. The owner…