Accounting & Finance

Business Owner's Guide to Profit Planning

Owner's Guide to Profit Planning

International BancardReal people with the right solutions that build relationships for life.

Whether your business serves 50 customers or 100,000 fans, International Bancard can help you grow by providing payment acceptance solutions, including credit and debit card processing, ACH, check, and gift cards. As a nationally recognized industry leader, businesses rely on International Bancard’s market insight, data security knowledge and client care to deliver exceptional service to more customers in more locations.

Stay up-to-date and out of trouble on your environmental regulatory responsibilities. Today at 10 a.m. on the free Business Next audio seminar.

How to proactively comply with your environmental regulation responsibilities. Learn about upcoming Michigan Department of Environmental Quality conferences. Also today: Kelly Ignace of American Waste in Traverse City talks about their unique-in-the-nation recycling facility, Matt Harlow of Perry Ballard Inc. talks about using traditional print media in your small business advertising and SBAM’s Dan Mahoney talks about the significance of SBAM’s recent strong membership growth.

Listen today at 10 a.m., 3 p.m. and 8 p.m. on the Michigan Business Network
SBAM members can log in and listen to archived programs anytime on a PC or mobile device by going to the Business Next show page

Get Business Next audio seminars delivered three times a week automatically to your iPhone or other mobile device. Subscribe in iTunes using this URL.     

Last-minute tax tips for small business owners by CPA Paul Hense. Today at 10 a.m. on the Business Next audio seminar.

Listen today at 10 a.m., 3 p.m. and 8 p.m. on the Michigan Business NetworkSBAM members can log in and listen to archived programs anytime on a PC or mobile device by going to the Business Next show page

Get Business Next audio seminars delivered three times a week automatically to your iPhone or other mobile device. Subscribe in iTunes using this URL.    

What Do New Visa Fees Mean for Your Business?

Article courtesy of MTG (Midwest Transaction Group), an SBAM Approved Partner

A new fee is coming very soon from Visa that has industry experts scratching their heads.

This month, Visa will be adding a Fixed Acquirer Network Fee (FANF) for all merchants. Simply put, it is a monthly, fixed fee for the right to do business with them and will vary based on a number of criteria: how many locations a merchant has, gross sales volumes and whether the card/customer are present for swiping.

According to Visa, the fixed fee for merchant acquirers is expected to be $2 per month for about 60% of merchants and $5 or less per month for about 80% of merchants. Merchants with several locations and/or high volume will be harder hit, but Visa did say it will be waiving the fee for acquirers that work with "qualifying charitable organizations."  

MasterCard® is not far behind, planning to introduce a new annual fee sometime in July 2012.

Unfortunately, there is little we can do to buffer the effects of new fee compliances set by Visa or MasterCard. Having gone from a single interchange rate to more than 500, it’s not surprising businesses struggle navigating information and the myriad of fee configurations that exist today. That’s why it is as important as ever to work with a processing company you trust.

Contact your processor or MTG with any questions you might have in regards to this new fee or for clarification. We will continue to keep you informed on industry changes and do our best to guide you through complex interchange pricing. We know how important it is to understand what the fee structures mean for you and your business. 

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