Do you ever feel like you need a dictionary to read your merchant account statement? Are hidden fees, confusing charges, or shady contract terms making you second-guess your payment processor? In this episode, Frank breaks down the most essential payment processing terms every business owner should understand. From interchange fees to PCI compliance, Frank gives you the insider knowledge to make smarter decisions, avoid unnecessary fees, and protect your business from common pitfalls. It’s time to stop leaving money on the table and finally understand what you're paying for.

In this episode, these questions and topics will be covered:

• 01:30 – What a merchant account and payment gateway actually are, and why understanding the difference matters for smooth payment processing.
• 04:00 – How fees like interchange, discount rates, and reserves work, and how to avoid getting overcharged.
• 07:17– What chargebacks really mean, how to calculate your chargeback ratio, and why banks take it so seriously.
• 11:45– How PCI compliance and fraud monitoring protect your business—and the preventable fees they help you avoid.
• 13:57 – The truth about flat rate, interchange-plus, and tiered pricing—and how to choose the right model for your business.

Understanding your payment processing terms isn't just good business, it's essential. If you need help decoding your fees, ensuring PCI compliance, or negotiating better terms, Frank and his team are here to help. If you learnt something from this episode, don’t forget to subscribe, rate, and review—this will help more business owners stop overpaying and start thriving.

Connect with PayDiverse:
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Website: http://www.paydiverse.com
LinkedIn: https://www.linkedin.com/in/franksena