Beyond the Bank is all about understanding what you, as a business owner, is paying and why.    

Jennifer Belik is a Business Funding Consultant with The Business Funding Guru and the VP of Client Relations with KIS Payments.  She has educated herself on the merchant services industry and the costs involved; now she is eager to share that knowledge with you.

In this 6 part series, Jenn Belik, Business Funding Consultant, will provide you with a basic introduction to the Canadian Processing Industry and Non-Banking business funding in a way that is designed to help you make informed choices by understanding what you’re paying and why.

Complete List of Podcasts:

• Processing with Eyes Wide Open - Part 1

   

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    Part 1 - Jenn introduces the 3 pieces of the pie that make up your total credit card transaction cost:

     The Interchange
     The Assessment Fee (also known as the card brand fee)
     and your processor’s profit margin.

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• Processing with Eyes Wide Open - Part 2

   

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    Part 2 - Jenn discusses the 3 main choices that a processor can choose from when setting their pricing: Flat Rate, Tiered (or Discount rate) and Interchange Plus. I briefly outlined the difference between a Qualified Transaction and a Non-Qualified Transaction and how this relates
    to the Interchange cost. And ended with a quick look at your Effective Merchant Discount Rate – EMDR and how this rate provides you with a quick reference tool.

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• Processing with Eyes Wide Open - Part 3

   

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    Now that we’ve taken a closer look at the cost of credit card transactions and the pricing systems that processors can choose to use, I’d like to discuss:

     the cost of Debit card transactions,
     Equipment options
     some of the more common monthly fees
     Other Considerations
     and the Canadian Code of Conduct for the Credit and Debit Card Industry.

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• Alternative Business Funding and Building your Business Credit Rating

   

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    In Part 4 of this 6 part audio series, Host Jenn Belik speaks with Gerald Harris, Chief Operations Officer of The Business Funding Guru.
    The Business Funding Guru is a direct funder/financier as well as a professional business consultancy, tied into one organization.

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