Merchant Services Expense Reduction
We are an auditing and merchant services expense reduction consulting firm
for companies with high volumes of credit card transactions.
At Verisave, we use proven strategies to cipher through convoluted merchant account statements and identify areas where you could be saving thousands of dollars every month on your merchant account fees. We then negotiate with your current processor, issuing banks, ISOs, and credit card networks to reduce your fees by as much as 25%-35%.
Paying For Merchant Services Should Be Fair and Reasonable
When it comes to your company’s merchant account services, it can seem as though you’re locked into a processors fee schedule without any say in the matter. But at Verisave, we know where your company’s merchant account servicing fees can be reduced.
In the last year we saved our clients a combined $5.3 million dollars in merchant account fees. Part of our success comes from understanding the back-end costs of merchant account services.
On the surface, merchant account fees can be directly linked to the cost of doing business. A customer makes a purchase with a credit card, then you are charged by your credit card processor. However, the processors aren’t the only entity billing for their services. Other entities which take a percentage of each sale include:
- Payment gateways – These gateways initially process each credit card transaction. For a brick and mortar location, this could be the point-of-sale terminal. For online businesses, this could be payment gateways such as Paypal. The fee for using payment gateways are usually bundled within your merchant account processor fee.
- Credit card processors – Your company’s credit card processor is also known as your acquiring bank. This processor is where your company’s merchant account is established. They will receive 5% of your company’s merchant account servicing fees.
- Network associations – Credit cards such as Visa, Discover, and American Express have fees associated with using a networked credit card. These networks generally take 15% per transaction of the merchant account fee.
- Credit card issuing bank – These entities are banks that issue credit cards to the cardholder. Issuing banks receive around 70% of each transaction fee, which represents the bulk of your merchant account fee.
Customers Reduce Merchant Fees By Thousands Each Month When They Bring Verisave On Board
Through over 15 years of experience helping businesses reduce their merchant service fees, Verisave has developed industry-specific insights. Some examples of our work are:
Retail | Business-To-Consumer
After utilizing Verisave’s free merchant account analysis and speaking to our experts, the retail store attempted to implement some of the saving strategies we had discussed without Verisave’s direct help. The store was partially successful and was able to reduce their merchant account fees by 5%. After 6 months, we approached them to review their merchant accounts. Verisave was able to save the company an additional 15% off their merchant account fees. By working with Verisave, the store was able to see an overall 20% merchant fee reduction.
Restaurant | Business-To-Consumer
After noticing a yearly rise in credit card processing fees, a restaurant owner decided to see if he could negotiate a fee reduction with his merchant account processor. His account processors were less than helpful. They claimed the processor’s own fees were rising, so the owner’s fees had to rise as well. But as even more of his customers began paying with credit cards, the owner did not want to keep losing large amounts of his profit margin to merchant service fees. He hired Verisave to see if there was any way his fees could be reduced. We were able to find several unnecessary/exuberant fees and ultimately reduce his merchant expenses by 18% – approximately $3,000 of unnecessary spending every month.
Why Verisave & How The Audit Works
Can You Answer The Following Questions?
- How much profit does my merchant processor make on my account?
- What fees do I have control over?
- Am I paying too much in credit card processing fees?
- Are my fees in line with my competitors?
- Are savings available to me that I am not aware of?
- Can my American Express fees be reduced?
- How do I reduced my fees without switching processors?
If your company is intrigued by the examples above, there is a simple way to begin saving. Send in your company’s most recent merchant account statement and we will analyze it for free. It’s a simple, risk free process.
How the Audit Works.
1. Provide Statement
Send copies of your merchant
statements to Verisave.
2. Receive Free Savings Analysis
Verisave will provide you with
a detailed Savings Analysis.
3. You Save Money
Verisave will implement
the savings for you.
How You Benefit
You have nothing to lose and everything to gain.
- Audit results in 2-3 days
- Average savings of 25%
- Lower your overall fees to around 2%
- Fast and Efficient implementation
- 90% implementation success rate
- No switching processors
Need More Proof We Can Save You Money?
What Our Clients Are Saying
Some of Our Great Clients
Industries Served: Banks, Healthcare, Logistics, Government, Grocery, Retail, Manufacuring, and more…