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 factors that play into Verisave’s successful lowering of credit card processing fees.
Verisave Helps Lower Merchant Account Fees When Your Processor Will Not
A well-developed and long standing relationship with your processing company is a valuable tool in the merchant world. However, it does not guarantee that your processor is providing you with the lowest possible rates. Combined with our up-to-date knowledge of industry benchmarks and experience with your processors back end pay structure, Verisave auditing experts are equipped to implement fair and reasonable rates for both the processor and the merchant, offering the merchant the lowest rate they can expect to pay for credit card processing. Our ability to work fairly with both parties allows you to maintain the healthy relationship you have with your current processor – eliminating the need to switch companies.
Regardless of good standing with your current processor, there are a number of reasons why your processor might not already be offering you the lowest credit card processing rate possible:
- Is your processor aware of current rates offered by other processing companies? When you’re in-the-know and aware of your current processing rate, you are able to use that knowledge to your advantage to determine if your fees are too high. Verisave’s experience in this area can be extremely valuable to the process.
- Your processor doesn’t have an incentive to offer you a lower rate. Credit card processors have fees of their own to pay. As their fees increase, your fees will increase as well. But when the processor’s fees go down, due to pricing adjustments made by the card brands you can expect your fees to stay just where they are at. At Verisave, we can monitor current fees and processing rates to catch opportunities for lowering your merchant fees. Our fees for services are directly affected by the amount of money we can save for your company each month. If you don’t save, we don’t earn.
An Effective Rate Does Not Equal Lowest Possible Processing Fees
Don’t settle for “effective rates” when you could shave more points off your monthly processing percentages. Implementing a low processing fee from 2.5% down to a slightly lower rate of 2.05% can result in thousands of dollars in savings for your company.
One of our clients was a medical device company with an effective processing rate of 2.85%. They reached out to Verisave to review their processing fees on the off-chance that there were extra, unnecessary fees that could be removed. In just a few days, Verisave had identified areas that lowered their fees by 30%. Over the course of three weeks, Verisave implemented the savings which the company is still enjoying today.
Verisave Can Lower Overall Credit Card Processing Fees
To eliminate unnecessary fees and obtain the lowest credit card processing rate possible, give Verisave’s free merchant account audit analysis at try. Verisave’s saving experts will review your company’s latest merchant account statement and in 2-3 days, identify areas where fees can be dramatically reduced. This service is completely free, so start the process today and see what savings your company could be achieving.