Q: I get calls almost daily from people promising to save me money on credit card processing why are you different?
A: We are not associated with any of the processors and do not accept any payment from them. They make more money when you spend more, we only get paid if you save money*
Q: My discount rate is much lower than previously but I don’t seem to be saving money why?
A: The most common rate quoted is the base discount rate or MDR (Merchant Discount Rate) and it is only part of you processing cost. We take all of the fees and rates into consideration to find the lowest bottom line cost for you.
Q: I compared my rates to another business all of them are as low or lower but I am still paying more why?
A: Processing discounts are based on a complicated formula that includes different rates for the type of credit cards you accept and how you process them. For instance a plan that works for a business that does transactions face to face with the general public will cost more for a business that sells to other businesses online or by phone.
Q: How do you get paid?
A: We are paid based upon how much you save for 1 year*. During that year we send monthly reports to you showing what you wold have paid at your old rate and what you saved at the new rate and we bill you for 50% of those savings. We work for you and get the Processors competing for you business.
Q: You want to audit my statement but all of the salespeople who call or drop in offer a statement analysis why is yours different and why do you charge for it?
A: Our audit is a straighforward comparison of your current fees and what we know the market rates are we give you the details to show where the figures come from. Because we give an honest report we often tell our clients that they have a good deal and should not change therefore we must charge a small fee. This fee is deducted from our ongoing fees if we should find you a better deal.
Q: I have been with my processor for a long time and the service is good I don’t want to change but would like to save some money can you help?
A: Our first option is always to try to negotiate a better deal with the current processor, some are more cooperative than others. We get legitimate competitive offers for them to see and respond to. If we can negotiate a better deal we continue to monitor as above for 1 year.
Q: How much of my time are you going to take up?
A: As entepreneurs ourselves we recognize the importance of your time and take up a little as possible. The original meeting usually takes only 15 minutes to review our statement audit. Then your involvement will only be the time necessary to read reports, make decisions and sign documents. Note Moneris at this time refuses to deal with us directly resulting in more complicated negotiations for their customers, we are working to rectify this.
Q: What services are included in your service?
A: We do everything we are able to do, including negotiating, form preparation, return of equipment, setup of new equipment and any training needed for staff.
Q: After you get a new deal for me what is your involvement?
A: We are with you for one full year, with monthly reports, to answer questions and help with any problems you may encounter. Optionally you can engage us after the year is over.
Q: I’ve heard that Visa & MasterCard are reducing their rates how will that affect what I pay?
A: The rate that was reduced was the Interchange rate that the Processors pay to the banks a major part their cost. Unless you have an cost plus pricing program there will be no effect unless the Processor reduces his fees. Note two of them has just announced increases.
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