Reducing merchant credit card processing costs
Reduce costs by renegotiating with your current merchant card processor.
Achieving Maximum Savings
Your savings from reduced credit card processing costs result from four simple steps.
4 Steps to Savings
- 1. Analyze recent merchant services statements and identify savings potential
- Review your current pricing; identify wasted fees: There is only one pricing method that is in your best interest. 90+% of credit card processing companies conceal the availability of that pricing method. By moving you to that method, assuring the proper handling of credits and controlling the impact of gross vs. net discounting you save money.
Review your interchange qualifications and identify ways to reduce your interchange expense: There are 225+ interchange categories and there are qualifications necessary to obtain the most favorable interchange on a per transaction basis. We understand the incentivized interchange categories, the registration requirements to obtain them and how to mitigate interchange downgrades.
Review the feasibility of PIN based debit, especially the adoption of BIN File Management: We consider the break-even cost of debit vs. credit, customer preference trends and the interchange associated with on-line debit transactions. We determine the feasibility of BIN File management.
Review your Point-of-Sale (POS) communication method, Dial vs. IP, and identify cost and time savings potential: Using the average transaction times for each method, we can identify your processor's actual cost per authorization, capture, and settlement.
Identify what your account is costing your processor; determine a reasonable profit margin for them: Knowing your processor’s actual costs and allowing for an industry-standard reasonable profit margin allows us to calculate a fair cost for all parties. You save and your processor is still profitable. Win, win!
2. Review the savings opportunities with you and explain the actions needed to achieve the savings
3. Negotiate with your processor to provide you the ideal terms
4. Review each subsequent month-end statement with you and agree to the savings you realized: Only then do we invoice you.
Our goal is to minimize costs by renegotiating with your current merchant card processor. Still, it helps to have back up. We have least three processing companies who have agreed to the ideal terms you deserve. If your current processor won’t play ball, we’ve got you covered.
It's that easy. When you are ready to reduce your credit card fees and reinvest the savings in growing your business, call us. 1-888-303-0897
Contact Us today for a free savings estimate.
Through this process you will learn:
- How to reduce costs and save time
- Credit card processing companies' true costs & profit
- The nuances of electronic payment costing that can save big bucks
- Effective negotiating tactics
- Best practices on how to position your business's payment acceptance system and policies to maximize sales opportunities, minimize costs, and mitigate chargeback and fraud risk
