The Payments Guy
Welcome to “The Payments Guy” — your ultimate guide to navigating the convoluted world of payments. Have you ever felt confused when reviewing your merchant account statement, understanding the role of payment gateways and processors, or dealing with customer disputes and chargebacks? You’re not alone! Each episode, we’re here to demystify the complex world of payments, bringing you top insights from industry experts and sharing real life payment horror stories that will help you make better informed decisions around accepting payments for your business.
Join in every other Thursday as we tackle the toughest questions and challenges in the payments space. From learning how to minimize the impact of disputes and chargebacks to exploring alternative payment solutions and ancillary services, The Payments Guy offers practical advice and solutions to help you successfully navigate the payments world. Plus, we'll feature interviews with experienced business owners and industry expert who provide valuable tips and tricks for streamlining your payments processes.
Whether you're looking to grow your business, avoid getting ripped off by your merchant services provider, or just want to understand the payments ecosystem better, “The Payments Guy” is your go-to resource.
Say goodbye to funding holds and pushy service providers —tune in and let us show you the money!
The Payments Guy
Payment Processing Terms Every Business Owner Should Know
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:
Instagram: https://www.instagram.com/paydiverse
Website: http://www.paydiverse.com
LinkedIn: https://www.linkedin.com/in/franksena
