Created for AAA members by Phillip Parker, CEO of CardPaymentOptions.com Updated July 23, 2015 Part 1: Overview The merchant services industry thrives on confusion and complexity. After all, the less you know, the more money they can make from you. That’s why the first step to securing a good deal is educating yourself on how the industry works. Fortunately, you don’t have to become a payment processing expert to negotiate low rates. You just need a solid understanding of the basics. Finding a credit card processor for your ambulance service can be a complicated and expensive undertaking. There are hundreds of merchant account providers competing for your business, and each one has its own unique contract terms, payment options, and sales team. How do you know which product is the right fit for your business? How do you prevent yourself from getting scammed? And just what exactly constitutes a “good” credit card processing rate? The Three Major Players Visa and MasterCard do not supply card processing services directly to merchants. AMEX used to do so, but they are transitioning into the same business model as Visa and MasterCard. If you want to accept card payments, you’ll have to work through…

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