bannerDateline: December 12, 2007 - Temecula, CA

Former Credit Card Executive Helps Businesses Cut Credit Card Fees

It’s no secret that businesses across the nation spend millions of dollars every year on credit card processing fees. Each year as credit and debit spending usurps cash and check transactions, merchants are watching their processing expenses grow to become among their largest and fastest growing expense categories. Historically merchants would attempt to keep these expenses in check by shopping different providers from time to time, however the costs have become very complicated and few merchants really know enough to distinguish between good pricing terms and bad pricing terms. Adam Pflaumer plans to change that. Adam has spent 15 years in the merchant services industry and prior to starting EP Consulting, he was president of a well respected merchant service provider.         

Electronic Payment Consulting (“EP Consulting”) located in Temecula, California has created a one of a kind business model that helps businesses effectively reduce this growing expense category and in most cases, without ever having to switch providers. Unlike a processing company who derives their profit by how much they can charge each merchant for processing services, EP Consulting earns by how much they save their clients. “There are enough credit card processing companies out there. Merchants want to save money but most don’t want to switch companies to do it. I can’t blame them. We wanted to take our expertise in this dynamic industry and provide a service that directly aligns our interests with our clients while providing an undeniable impact on our clients’ profitability. If our clients retain our services and we don’t offer a quantifiable reduction in expenses, then I don’t think my clients should have to pay” says Pflaumer. EP Consulting earns their fees as a percentage of the incremental savings that they help their clients obtain.

It’s working! Businesses that have retained EP Consulting’s services have experienced anywhere from $150 to $1,500 per month in savings. Bill Seltzer with Temecula Valley Golf School was frustrated about his escalating and complicated credit card processing costs. “Whenever I contacted my processor they would appease me by making a slight reduction in my rate but the savings would be small if any. I decided to work with Adam at EP Consulting and it was eye opening. He negotiated much better terms with my processor that I didn’t even know existed. I never had to change companies and I have cut hundreds of dollars a month off my processing expenses.”

Paul Dewey, who operates a chain of dry cleaners catering to hotels and celebrities in Los Angeles, has a business strategy that includes a keen focus on minimizing costs. “Our merchant services have become a major expense over the years. We contacted our processor, which happens to be our bank and really got nowhere. We were pleasantly surprised that EP Consulting was able to come in and decrease this expense by nearly 20%. Frankly I thought they wouldn’t get anywhere as I had tried on my own that same month, but it became clear to me that they know exactly what to ask for, where I don’t. I think this is something that any business who accepts credit cards can definitely use. It’s a no-brainer.”

More than just renegotiating better pricing, EP Consulting’s services do not end with helping their clients get the best pricing. Scott Aaron, Controller for DeSoto Sales, a chain of 22 stores providing floor covering supplies states, “We have realized about half of our overall savings by EP Consulting getting us better pricing terms with our existing company, the other half is by helping us identify procedures at our point of sale that enable our transactions to be processed in the least costly method. We expect to add close to $30,000 to our bottom line through EP Consulting’s services.”

Expense reduction consulting services are gaining momentum. More and more companies are realizing that a dollar in savings is more valuable than a dollar in revenue. Dollars saved contribute 100% to the bottom line where on average new sales only contribute 30% to the bottom line. Companies are turning to experts to help them navigate the most effective ways to make meaningful cost reductions without cutting staff or resources that contribute to new sales. Pflaumer says, “As a business owner you spend your time finding ways to grow your business and maximize your bottom line. There are experts who businesses make meaningful reductions in nearly nearly every expense category. Schooley Mitchell is a company that provides expense reduction services for telecommunications. Emmy Waste is a company that provides expert consulting on how to minimize waste management expenses while going green. I know there are companies out there that provide expert advice on cutting shipping expenses, office supplies and so on. So, there is a broad range of resources for businesses owners. Like our services, these companies offer cost reduction services that a business would likely never be able get on their own. I hire a CPA to handle my taxes and an attorney to handle my legal matters, it only makes sense to have independent expert in telecom to ensure that I am keeping my communications expenses as low as possible, and the same can be said for credit card processing expenses.”

For more information on EP Consulting’s services and how to minimize credit card processing expenses, please call Adam Pflaumer, President at (951) 303-0897.

Seen in these publications:

Yahoo! FinanceEast Bay Business TimesSacramento Business JournalSan Francisco Business TimesSAn Jose Business JournalKRONBolsamaniaBreitbart.comFlexMyWirePR NewswireSilverlightWeb 2.0 JournalSOA WorldWebSphere JournalWireless BusinessTech Trends