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Film crew behind the scenes. Kenya. Villager

Credit card processing

Authorize Credit Card Processing.

Authorize Credit Card Processing. A match not made in heaven. As a small (okay microscopic) business, working with Authorize was never a match made in heaven. But as often the case in relationships, I stayed with Authorize way past it’s sell by date. Perhaps  I stayed a client because  I remember how hard it was to get set up and accepted. (okay 15 years + ago in the days of terminals and carbon paper I grant you); and since Authorize credit card processing used to be pretty much on par with all the other big processors, the idea of hoop jumping simply to end up equally mystified was not at all appealing. But new credit card processing options have appeared  like Stripe and Square up, and I use them. In fact I use them most of the time. I can see what I am paying in credit card processing fees, it’s a simple fee structure and easy to use. Somehow  though, I could not quite  get around to jumping ship from Authorize altogether. That day has arrived. I am sick of monthly statements that are completely mysterious. Even my above average math abilities can work out a discount rate. But it’s all the ‘other’ charges that spin a small business owners’ head. I received my monthly statement yesterday which may as well have been explained in interpretive dance. It did not help that I had just spent forty minutes of my time on the phone with the dreaded PCI compliance people trying to jump through their opaque set of requirements. But that’s a story for a different day.  So, over and above the discount fees here’s what you can expect to see on your monthly statement in addition to any actual discount fees. Regulatory Product fee Monthly service charge MC Acquirer License Fee APR Visa Fixed Acquirer Network Fee APR VI CR network Acquirer Processing fee Mastercard digital enablement fee Authorization  Attempt fee Batch settlement MC Sales network access/usage fee Mastercard mid qual Mastercard non qual vi DC Network Acquirer Processing fee visa mid qual   It’s time to say goodbye to Authorize, but even that’s not very simple since forms must be sent and signatures etc.. Stripe, Square up and the new breed of credit card processing companies may have their issues, but at least I can see what I’m paying. It’s quick, flexible and mobile friendly.