Today, I officially terminate my credit card merchant services. As much as it pained me to cancel this service, it is a necessary step.
I know that everyone loves to wave that plastic out. I know I do.
"Do you accept credit cards?"
I regret to say, "Not anymore."
But the reality is that the fees the companies charge retailers are high. We won't go into percentages but when I look at all the fees and poorly named "discount rate" that are charged, I cringe every month. It's the cost of doing business that I can no longer justify.
On a positive note, this reduced overhead–among many efforts I have implemented in the course of the last 8 months–are significantly so that I am now prepared to re-open my business (so to speak) with the ability to provide even better savings to customers.
And don't forget that I have some awesome backlog of inventory that I would really like to move and the discounts are phenomenal!
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