07/26/2026
Today Sunday 7/26/2026, I want to ask a question of my business friends, and associates.... I'm the owner of a small seafood market/restaurant. I'm college educated which has a small influence on why I'm asking this question. During my senior year I wrote a paper on credit card processors and how they work, who they are, and what to look for when choosing one. Recently I've noticed that my deposits from credit card sales are being deposited later and later. So the first entity I went to was my bank. They informed me that nothing has changed in their process. The time that my deposits are posted are based on the processors submission times. When I signed my first contract I was guaranteed a.m. next day deposits. Now my deposits are appearing around 3.00pm daily as opposed to 10am previously. At the same time i've noticed a push to get my deposits early. I can pay a small percentage and get my deposit instantly? This option was not available when I started in 2009. One of the biggest credit card processors globally is Fiserv, JPMorgan Chase etc., they represent trillions of dollars annually and make a percentage off of every card processed globally! Think how much more they could add by simply making you wait a few hours more for your hard-earned cash. If just a million small businesses opted to receive cash early the companies that process your payments would make millions in just the time it took you to press a button. It should be illegal to withhold credit card processing earnings simply so you can charge them to get their own money. Business owners should look for better options and take their cash elsewhere only then will the mega processors listen!! If you have a solution to this growing trend, please feel free to comment or offer a better solution. I would love to hear your opinion on this matter.