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Chapter 16 - Demystifying Equipment Fees


Transitioning to the card payments industry is often a two-edged sword: potentially a financially rewarding endeavor, yet often difficult for the sales professional new to an unfamiliar industry. This program is designed to assist both new and seasoned veterans attain true financial success by employing a simple and effective sales process.

WHAT IS A PAYMENT PROCESSING STATEMENT?

Payment processing statements are monthly recaps of merchant sales activities tied to credit card purchases that provide important data for the business owner. The ‘processing statement’ shows important data such as sales activity, deposits into the merchants bank account, charge back occurrences, and processing fees.

HOW DO I ‘READ’ A PAYMENT PROCESSING STATEMENT?

Understanding payment processing statements (PPS) is a key skill set sales professionals in the payment industry must eventually master. This section will provide you a strong introduction to ‘making sense’ of a merchants ‘statements’. We will break a statement down into it’s four constituent parts and take our first look at specific industry fees.

WHERE CAN I FIND ADDITIONAL HELP?

Only so much can be gleaned from one chapter. Where can you go if you have additional questions regarding payment processing statements? We conclude this chapter with several recommendations, as well as outlining a process designed to assist you in growing your ‘statement analysis’ capabilities. Demystifying statements is a huge key to becoming a pro.

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