A comprehensive health check for your merchant account.
Our complimentary merchant account analysis shines a light on every aspect of your processing fee structure and account setup.
Using our proprietary analytics engine, and our in-house experts, we comb through every line item, fee rate, card type, and setup condition within your merchant account transactions.
The result is a comprehensive Report Card showing you exactly how much you are overpaying on your processing fees, and a plan of attack for minimizing these fees.
All we need is one or more recent merchant statements to begin.
And since Verisave is NOT a processor, we will present solutions to minimize your fees WITHOUT the need for a processor change.
What is Included in the Report Card:
Once our analysis is complete, we will present our findings to your team.
The details contained in the Report Card include:
- Current Effective Rate
- Transaction Volumes
- Fee Volumes
- Card Mix
- Refund Volume
- Setup Errors
- Your Current Overcharge Amount
- Your Target Effective Rate
- Your Overall Savings Opportunity
How Verisave Analyzes Your Merchant Account:
Merchant statements are notoriously difficult to analyze.
Every processor uses a different format, and many of them hide the details that are needed to truly understand your processing fee structure.
Verisave has extensive expertise in this area. Here’s how we approach a comprehensive analysis:
- Our proprietary analytics engine compares your statements against all known merchant statement formats
- Our experts comb through the statements line by line to pinpoint rate calculations for every card and transaction type
- The results are pushed back through the analytics engine to compare against our extensive database of industry rate benchmarks
- Our experts determine where setup errors are occurring … and identify the optimal rates you should be paying
- Based on these findings, our team is able to formulate a strategy to correct the problematic setup errors, pursue refunds for errant charges, eliminate bogus fees, and justify better rates for your industry classification
How Verisave reduces your processing fees:
Verisave offers cost-reduction, simplified. Without any time investment, disruption, risk, or upfront fees, we can easily bring 10%-30% of your credit card processing fees back to your bottom line.
No need to change processors, and no need to add a project to your team’s workload.
Strategy
We dissect and analyze every fee on your merchant account to find all viable savings tactics, re-classifications, and hidden discounts.
Optimization
We apply these tactics to your existing merchant account, implementing all savings for you. We do all of the work.
Monitoring
We monitor the account every month to ensure your fees do not increase over time, and that any annual rate updates are minimized or avoided.