One key aspect of successfully lowering your monthly merchant account fees is understanding the industry as a whole. There are countless facets to consider which is why truly understanding this industry can be an arduous task. At Verisave, we’ve worked in the credit card processing industry for years. We’ve watched as the credit card industry has grown and evolved. We’ve also seen how it has affected business owners as they’ve all eventually had to migrate towards offering customers the option of paying via credit and debit cards.
This experience in the industry makes Verisave an invaluable team player when it comes to obtaining the lowest possible rates for your merchant account. Verisave is a qualifying expert in the credit card fee reduction industry for three key reasons:
1. Verisave’s Experience Working With Processing Companies
We have worked with all the platforms that processors use and know the limitations and strengths to each platform which can directly affect savings. (TSYS, First Data, Elavon, Chase Paymentech, Worldpay, Vantiv)
2. Verisave’s Back-End Information
We know the back-end cost structure of an ISO or processor allowing us to measure the profit margin they are making on a Merchant Account. We also understand the strengths and limitations to each gateway and terminal machine that directly affect your savings.This information is a great tool for working with your current processor to acquire lower fees and maintain the savings. Without it, companies are lost in the dark and unaware of the potential savings they could be achieving.
3. Verisave’s Benchmark Industry Data
The credit card industry is vast. With many entities involved in the processing of one credit card transaction, it’s no wonder that the merchant must pay fees for this seemingly-simple service. Over years of working in the industry, we’ve collected data to understand company benchmarks, average fees, and so forth that allows us to help our clients obtain greater savings. When we identify potential savings for you, we have the benchmark data to back up it up.
As we work with your company to lower your monthly merchant fees, we aim to understand your individual business’ needs, current merchant account costs, monthly credit volumes and more. We combine this information with our experience-earned wisdom in the credit card processing industry to develop and customize personal strategies for lowering your monthly merchant fees. Strategies we have developed and used for years make it possible to achieve nearly 90-100% of the potential savings we locate for our clients. Send us a copy of your most recent merchant account statement today so we can begin uncovering potential savings for your company.