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Provided by: Lorman Education Services Minimizing Credit Card Processing Fees |
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Training
Provided by Lorman Education Services
Minimizing Credit Card Processing Fees - For most retailers, payment processing costs represent more than 2 percent of sales. Effective management can reduce these costs by one third or more and the savings can be even more dramatic for retailers selling through direct marketing channels such as e-commerce, mail and telephone orders, and infomercials where processing costs can run 50 percent higher. But direct cost savings aren t the only thing to consider. Every payment processing decision impacts your customers shopping experience. Poor payment processing decisions can lead to hidden costs and lost revenue.
In this teleconference, we will review all aspects of the credit card processing cycle for Visa and MasterCard transactions. We will provide you with a core understanding of the processes involved as well as the best practices for reducing processing costs. We will also address the hidden costs of payment processing and how they can be avoided.
Related Awards, Degrees or Certifications: ,BOMI ,CPE ,IAPP (Pending) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further informat
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Minimizing Credit Card Processing Fees
I. Payment Processing 101 and Definitions
A. The Transaction Cycle
B. The Components of Credit Card Processing Costs
1. Interchange
2. Assessment
3. Processor Charges
II. Managing Processing Costs
A. Before You Start Processing
1. The Right Kind of Processor
2. The Right Payment Options
3. The Right Merchant Classification Code
4. The Right Kind of Proceeding Agreement
B. While You Are Processing
1. Understanding the Rate Structures
1. Visa
2. MasterCard
2. Understanding How Downgrades and Surcharges Increase Your Costs
III. How and Why Downgrades Occur
IV. Best Practices in Downgrade Avoidance
A. The Optimal Authorization Strategy
B. Fine Tune Your Offer
C. Arbitration
V. The Hidden Costs of Payment Processing
VI. Ongoing Education About Processing Costs
A. The Transaction Cycle
B. The Components of Credit Card Processing Costs
1. Interchange
2. Assessment
3. Processor Charges
II. Managing Processing Costs
A. Before You Start Processing
1. The Right Kind of Processor
2. The Right Payment Options
3. The Right Merchant Classification Code
4. The Right Kind of Proceeding Agreement
B. While You Are Processing
1. Understanding the Rate Structures
1. Visa
2. MasterCard
2. Understanding How Downgrades and Surcharges Increase Your Costs
III. How and Why Downgrades Occur
IV. Best Practices in Downgrade Avoidance
A. The Optimal Authorization Strategy
B. Fine Tune Your Offer
C. Arbitration
V. The Hidden Costs of Payment Processing
VI. Ongoing Education About Processing Costs
About The Training Provider: Lorman Education Services
Lorman Education Services - Lorman Education is dedicated to providing cost-effective training opportunities that meet the needs of our members and enhance their skills, knowledge, and competencies.
Please use Priority Code 16175 when registering.
Lorman Education Services began offering continuing education seminars in 1987.
Lorman Education is dedicated to providing cost-effective training opportunities that...
