So you’re approached to let someone quote your credit card processing. You’ve handed them your statement and you let them come back and present their quote. We recently had a client come to us after they got a quote from a local competitor. The problem though is the quote is very suspect.
How They Got It Wrong
What the quote tried to show was not real. They said we are billing the client 3.75% in the non qualified rate. Our statement shows it is being processed at 2.66% (see below). This is where they were showing the opportunity for the biggest savings. Their answer would be to put our client on .35% over cost. This would have been more costly to our client. The cost on these card types is 2.40% according to interchange. Thus .35% over cost would have put them at a complete rate of 2.75%!
Why They Got It Wrong
We are not saying this company lied to our client. What we would say is that they are not knowledgable enough on all the ways card processing works. Which is a huge issue if you are seeing potential clients. You don’t want to mislead a prospective client because of bad training or lack of knowledge on the topic. That’s one thing we pride ourselves in doing at Card Payment Solutions USA. We take the time to continue our education. Not only in the technology sphere but in how pricing is set for each credit card type.
We Continue To Find Savings
With Card Payment Solutions USA we review our clients accounts quarterly. This assures each client gets the best pricing possible. It’s also why we don’t sign people into long term contracts. Your freedom of movement is important to us. It also should secure you in the knowledge we will always do right by you, the client. We do have ways to save every client more money. Want to save all your processing fees without any hidden fees? Email us at JP@cardpaymentsolutionsusa.com to talk with our owner.