Rhombus’ Independent Audit
If you choose to process through one of Rhombus’ recommended processing partners you get something no other processor offers; an independent audit. Every month we recalculate every transaction you processed and ensure that all fees were correctly charged. We don’t allow the processor to ever round up or bundle transactions to create more profit for themselves. Our audit also recalculates every network fee you are charged by MasterCard, Visa, Discover, and American Express and ensures that you were charged the correct amount. Most times...
read moreIs Square a good decision for my business?
Square is a hot company in the world of payment processing. They offer a simple start-up with a free swiper. All you need is a smart phone or tablet. For many businesses that are starting this sounds great. No monthly fee and you know the processing rate. No fuss right? As many businesses have found out though, Square isn’t the best decision. Square offers 2.75% of volume for all swiped transactions. Our qualified processing rates can cost as low as 1.25%, but our effective average rate is 1.95%.1 Let’s looks at some...
read moreWhat is a good reason to switch credit card processors?
Everyone who owns a business and accepts credit cards has heard it “I am going to lower your processing rates.” But is that a good reason to switch? What are good reasons to switch your credit card processor? In the past few years the credit card industry has changed dramatically. It used to be hard to find a processor that accepted all forms of cards. Getting a machine used to be even harder. Leases were very expensive and you couldn’t sign up without one. Things have changed dramatically. Unfortunately though, many...
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