Credit card processing fees are a huge expense for small and mid-sized businesses and can sometimes amount to thousands of dollars a month. If you’re looking for a way to lower your credit card processing expenses, working with a consulting company can give you an edge in negotiating processing fees. Here are a few questions you should ask your credit card processing consultant when you first start working with them.
“How are my credit card processing fees calculated?”
Although business owners understand that they’re being charged for credit card processing, every credit card company is a little different. This means that the rate at which you’re being charged can be different depending on the transaction or credit card. In addition to the differences between companies, the way that customers use their cards (debit instead of credit) can affect how much you pay for processing.
“How much can I expect to save?”
Although any amount of money shaved off your monthly expenses will help, look for a consulting company that can help you drastically lower your credit card processing costs. Make sure you have an idea of how much you can expect to save, and whether hiring a consultant outweighs the cost of simply continuing to pay fees.
“What follow-up services do you provide?”
Choose a credit card processing consultant that provides you with services after negotiations take place. Many reliable consulting companies provide rate monitoring services to ensure that your expenses stay as low as possible, and that your credit card processing fees don’t creep back up.
For expert credit card processing consulting services, contact Merchant Advocate today at (732) 727-2073. Our three-step approach to credit card processing fee reductions can help you save thousands of dollars a year and give your business the financial flexibility it deserves.