Let's talk about self storage.

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  • 1.  Credit Card Processing Fees

    Posted 11-21-2023 01:31 PM
    We currently use Global Payments as our payment processor and the rates they charge are crazy!  In January 2022, the rate was 7.60% of my credit card sales and the latest invoice is 9.47%.  I called in March to negotiate new rates and they kept charging me my old rate.  I called in to complain and they agreed they made a mistake and are reimbursing us.  I then found out they have raised rates again but they are going to hold me at our old rate.  They said you can dispute your rate every 8 months to negotiate a new rate with them.  

    I am wondering if you all are experiencing the same issues with your credit card processor and if you are having to pay such a high percentage.  We use Syrasoft as our software provider so I am not sure if we are limited on who we use, or if it matters.

    Sara Yeaton
    Business Manager
    JDLV Properties, Ltd.
    Office (210) 349-0404
    Cell:  (214) 938-4870

  • 2.  RE: Credit Card Processing Fees

    Posted 11-22-2023 08:51 AM

    My processing fees with Easy Storage Solutions are currently running at 2.77% and that rate has been going up roughly a quarter point per year.  

    Daniel Brown
    River Hills Storage
    Austin TX
    (512) 347-8336

  • 3.  RE: Credit Card Processing Fees

    Posted 11-22-2023 02:14 PM

    Does your software integrate with your cc processing.  That is, can the payment be initiated directly through the payment process in the software.  If so, does the software provider allow other companies to integrate with an API?  If you record the payment in the software, then record the payment separately find another cc provided that is cheaper.  I have heard several software companies in the storage industry have gone to captive cc processing so you can only use they provider.  In that case owner is stuck with whatever increases they want.  I you are in an open format call Trinity Merchant Services.  888-315-9714.  I think you will get a better rate. 

    Doug Hunt
    Owners Management Company, Inc.
    Lancaster TX
    (214) 742-9499