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Lower Credit Card Processing Fees By 25%

On average, Verisave has been able to lower our clients’ credit card processing fees by 25%, with many of our clients even seeing a 35% savings in their monthly merchant account fees. There are several …

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Understanding American Express Discount Rates

When referring to the percentage merchants pay for accepting credit card transactions, Visa and Mastercard use the phrase “Interchange Rate”. American Express uses the phrase “Discount Rate” when referring to their processing fees, which can be misleading. Instead of giving merchants a discount for particular purchases, they are actually taking a larger percentage of the purchase than most credit card processors. As American Express works as a closed loop system (dispersing their own cards, authorizing and settling payments), they set their fees at high price rates for whatever they can get away with in our current economy.

Amex Discount Rates Vary From Business To Business

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Optimize Your Interchange Rates To Save On Merchant Account Fees

Too often, companies accept losing money on merchant account fees when they would not accept those kinds of losses in other areas. But merchant account fees are presented in such a way that it can feel like an insurmountable task to cut back on expenditure. It is possible the fees are purposely obscured so businesses are not aware that fees can be reduced.

By optimizing your interchange rates, weeding out unnecessary charges, and implementing more tried-and-true techniques, Verisave could reduce your merchant account fees anywhere from 25% to 35% each month. Years of experience sorting through companies’ merchant account statements has given Verisave a familiarity with the process. Our savings experts focus solely on reducing your merchant account fees, saving your business more than they imagined was possible.

Interchange Rates Contribute The Most To Your Merchant Account Fees

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Merchant Account Fee Basics: Visa and Mastercard Interchange Rates

Merchant account processing is a topic that involves so many variables, it is difficult to fully understand. Understanding credit card processing involves a variety of topics ranging from Visa, Mastercard, AmEx, and Discover interchange rates to processing options like Chase Paymentech, TSYS, Elavon, and more. This is why so many companies pay for convenience through high merchant fees — because they simply do not have the time to really digest all the info that comes with payment processing.

However, if you know enough about the credit card industry (like we do), you can take one look at your merchant account to know where you are overspending and start making changes to reduce your monthly merchant fees.

Start With The Basics – Visa And Mastercard Interchange Rates

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Tips for Managing, Monitoring, and Controlling Your Credit Card Processing Fees

We have found that nearly every company is overpaying their credit card processors. Some companies are paying thousands of dollars each month unnecessarily due to high rates and miscellaneous fees attached to their merchant account. But, accounting departments are catching on to the chaos surrounding credit card processing fees and hiring auditing firms like Verisave to cut unnecessary spending and increase profitability.

Verisave accomplishes significant savings for large companies in a number of ways.

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Merchant Services Expense Reduction Strategies for 2018

As we approach the end of the year, we know many companies are once again looking to reduce their merchant services expenses. Below we have provided three different merchant account expense reduction strategies that will help you get started on the right foot in 2018.

Expense Reduction Strategy #1 – Examine Merchant Service Fees

First and foremost, make sure you have someone on your team who understands how to read a merchant account statement. With so many entities taking a profit from your merchant account, it’s hard to cipher through itemized lines, percentages, and more. To understand your merchant account statement, you have to know who is taking a cut from your merchant account.

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How Verisave Helps Reduce, Manage and Control Merchant Account Fees

How Verisave Helps Reduce, Manage and Control Merchant Account Fees

At Verisave, we specialize in helping businesses  lower their monthly merchant account fees. With years of experience and back-end knowledge of the credit card industry, we managed to secure $5.3 million in savings just last year for our clients. Too many companies are letting their merchant account fees get the best of them, paying high interchange rates, late fees, and other unnecessary charges. Human errors can be made due to the complexity of merchant account statements. Bringing Verisave on board provides businesses with a three-fold service of ongoing reduction, management, and control of company merchant account fees

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3 Tips for Lowering Your Credit Card Processing Fees and Costs

If you are looking to cut company spending, have you considered reviewing your merchant account statement? While completely eliminating credit card processing fees is a non-starter, reducing them is a valid option that many companies and accounting departments are simply unaware of. Three things your company can do today to immediately lower your credit card processing fees are listed below.

1. Speak With Your Current Processor

Reducing the interchange rate even a few points can have a major impact on the company’s year-end totals. Speak to your current processor to request a “Rate Review”. Processors profit from higher rates and are unlikely to let you know when your current rate is above the industry benchmark. If they are encouraged to perform a rate review, they may end up shaving off a few basis points to maintain your business.

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How to get started.

Our mission is to reduce your credit card processing fees without changing your processor, partners, systems, or client experience.

The first step is to determine if we’re a mutual fit.

Not every business will have an opportunity to trim wasted spend from their processing fees.

Let’s find out if we can help you save money. Start a complimentary analysis below.

Start a Complimentary Analysis

  1. No cost
  2. Confidential
  3. Simply upload a recent merchant statement
  4. We will identify where the WASTED SPEND is hiding within your EXISTING merchant account
  5. We will present an overview of account and fee health, and discuss whether there are significant savings that can be achieved
  6. You are not obligated to pursue those savings
  7. You do not pay us ANYTHING unless you elect to have Verisave implement cost-reductions on your behalf

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Questions?

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hello@verisave.com

801-953-1515

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  • We Will Answer any Questions You Have About Credit Card Processing Fees
  • Receive Candid Feedback on Your Merchant Account from an Expert
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