5 Most Common Myths of Credit Card Processing


When it comes to credit card processing services, there is a lot of misinformation out in the marketplace so it is important to know what to look for when considering service offers from different processors:

5 Most Common Myths of Credit Card Processing

  1. It is best to choose the processor with the lowest rate. The lowest price is not always the best price or the best value. Many processors will hook you with a very low base rate and pretend or even mislead you into believing that is your all-in cost. Don’t be fooled by low or teaser rates – they are often below the costs that are set by MasterCard and VISA for each type of credit card processed which means there are likely hidden or additional fees.

TIP: It is important to understand what fees apply in addition to the base rate – read the small print of the contract, ask questions about your total effective cost on various credit card transactions, get commitments in writing.

  1. CFIB rates are only available through one provider. MasterCard recently approved some very attractive special pricing for CFIB members. Part of the stipulation from MasterCard is that all processors and providers, including 8760, will be able to offer these rates to CFIB members.

TIP: If you are a current CFIB member advise your current processor of your membership number and they will take it from there

  1. All credit card transactions cost the same. MasterCard and VISA set the price for each type of credit card processed and there are different costs for processing a reward card, a corporate card, a foreign transaction and a keyed transaction. Processors often present rates in an intentionally confusing manner in an attempt to hide or downplay your true cost of accepting credit cards.

TIP: It is important to understand how costs apply to different types of transactions

  1. Your rates will never change. Quite often, business owners will sign a contract at a certain price thinking that their rates are set in stone. Many processors will have regular rate increases which is allowed so long as the processor is advising you of the rate changes 90 days in advance of the change.

TIP: Many processors hide the increased fee notice on your monthly statement, make sure you read the fine print and any messages each month to ensure you know about all increases. 

  1. It is best to purchase your terminals. Purchasing your terminals instead of renting them may make sense in certain circumstances. However, it is important to consider what happens when the technology changes or when the security standards set by the card associations (MasterCard, VISA, Interac, etc) change or if your device simply stops working. How will your device be affected? You could end up owning an obsolete device that is no longer compliant with industry standards or simply does not work. This can put your business at risk. Renting is a favorable option because the processor retains the technology risk and must provide the merchant with a new device should things change or if the device breaks.

TIP: often a simple rental option is best and provides upgrades when available at no additional cost, replacements and on-going service for all terminals.

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If you have questions regarding your current Merchant Account or are looking for information on 8760’s Merchant Program?

Contact Suzanne Dodd at 8760 or your local WD Co-Auto Territory Manager

Suzanne Dodd – 780-886-8638 – sdodd@8760.ca | www.wdcoauto.com

Introducing *NEW* 5-Star Business Performance Program

November 30, 2016, Edmonton, Alberta – WD-Co Auto Endorses Certified Collision Care

WD-Co Auto announced today, our strategic partnership with Certified Collision Care for OEM Certification and business improvement.  WD-Co Auto sell and support both dealership and independent collision repair facilities throughout Western Canada offering products, services, and benefits to help our customers grow strong, profitable businesses.  Certified Collision Care, the Canadian division of Assured Performance Network and the largest North American OEM Certified Collision Repair Network, now offers the 5-Star Business Performance Program to the collision repair industry as a bridge to OEM Certification.

Certified Collision Care created the online service to assist shops that want to develop and chart an improvement plan to achieve the requirements for OEM Certification.  The program allows shops to see exactly how they stack up against OEM Certification requirements and how they compare with a proprietary list of industry best practices in the areas of finance, sales & marketing, production management, and customer satisfaction.

Upon completion of the self assessment, shops will have a strategic plan that focuses on the most important needs of the business and a defined path to enhance their body shop capabilities and overall performance, and ultimately, obtain OEM Certification.  Once the business makes the necessary investments to meet certification requirements, they can transition seamlessly into the Certified Collision Care program to complete their OEM certification.

Bill Davidson, VP of Sales for the Warehouse Division at WD Co-Auto explains, “We are focused on bringing programs to our members that will help them make the right investments in their business to meet the repair and business needs of the future, including OEM Certification.  We endorse the program introduced by Certified Collision Care, as it provides an invaluable resource to help our collision shop members to prepare for OEM Certification, and measure their business against industry best practices to identify improvement opportunities.”

“The 5-Star Business Performance Program helps our shops become top performers.  To achieve this, they need to be technically capable; invest in their business; provide exceptional customer service; attract great employees; and gain valuable certification credentials to utilize in their market”, says Leanne Jefferies, VP Canadian Operations, Assured Performance Network.  “We are excited to partner with WD Co-Auto and see their members prepare for and achieve business excellence and OEM Certification.”

About WD Co-Auto:

Formed in the early 1980’s, WD Co-Auto is a distributor servicing the dealership and independent collision centers throughout Western Canada with quality products and exceptional service.  We are committed to enhancing our customer’s profitability through programs such as the LeanTEC state of the art inventory system, the integration of Lean Production into our customer’s facilities, and this Certified Collision Care program.  We invite collision centers to find out more about these and other leading edge technologies we offer our customers to enhance their profitability by contacting one of our PBE Specialists.  Visit www.wdcoauto.com for more information.

About Certified Collision Care:

The mission of the Certified Collision Care program is to raise the industry’s technical repair capability and ensure each repair business has what is necessary to properly and safely repair current and future vehicles manufactured by the participating Automakers. Certified Collision Care is the Canadian division of Assured Performance Network, the largest network of OEM Certified repair providers with over 2,800 Collision Care Providers participating.  Visit http://www.certifiedcollisioncare.ca for more information.


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JUST ANNOUNCED – We have sold our building


WD Co-Auto is excited to announce that we will be re-locating to a new facility in mid August.

The new location will allow us to better serve our dealer members by providing us a significant increase in space—not only for our warehouse, but also for our equipment, service departments, paint mixing, and brand new training area!

We are also happy to announce that we have officially sold our current building!

Stay tuned for progress updates on the construction of the new WD Co-Auto facility.

Holiday Hours


Happy Holidays! May your days be Merry and Bright. During this holiday season, we take the time to reflect upon the good things we have… like our partnerships with you! From the entire team at WD Co-Auto, we appreciate working with you and hope that the holidays and the coming year will bring you happiness and success.

Elves in the “House”


Elfie Day 1
Hello! My name is Wayne Deer, But all of my friends call me “WD”

So, lucky us! Santa sent us one of his elves to give us a hand this busy holiday season, and elves and are very helpful. His name is Wayne Deer, but we affectionately call him “WD”. So far we have found him “chilling” in the warehouse – warming up on heat packs, lol ( he must have been tired!). And then he decided to help us with our inventory – we found him counting tissues in the back…. like, all of them, lol he was burried under a whole pile of them! (He is a little more messy than “helpful” but he is certainly a joy to have around!) This morning he was sweet enough to get the coffee going for us. It’s a cold morning and that was very thoughtful!  I can’t wait to see what he surprises us with next! ~Stay tuned for more!